March_2021

Kootenai County

Market Update
March 2021

COEUR D’ALENE / POST FALLS / HAYDEN

Quick Facts

Kootenai County population is 166,000 +

Shoshone 13,000
Bonner 46,000
Boundary 12,000
Benewah 9,200

Estimated 250,000 population in all surrounding areas

Kootenai county and the surrounding areas have approximately 118,000 housing units
Estimated 2.5 individuals per household

In 2019 54,400 people moved into Idaho

35,131 moved out…Net gain of 19,269

30% came from CA
78% of all incoming came from 10 states
Texas, Utah, Wash, Oregon, Nevada, Montana, Arizona, CA, Colorado, Florida

Residential Snap Shot

January 1st , 2021-February 28th , 2021

Residential Snap Shot
Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings November 1st, 2018 – January 31, 2019 106
Homes Sold/Closed YTD 266 Active Listings 223 Active Listings 62
Avg Days on Market 76
Median Sales Price 176 Homes Sold/Closed YTD 164 Homes Sold/Closed YTD
Avg Sales Price $551,000
SP/OLP 124 Avg Days on Market 94 Avg Days on Market $794,000

$460,000 Median Sales Price $400,000 Median Sales Price 100%

$584,000 Avg Sales Price $459,000 Avg Sales Price

98% SP/OLP 104% SP/OLP

Area 04 Rathdrum/Twin Lakes Area 04a Hauser Lake Area 05 Athol/Spirit Lake NW Kootenai Co

Active Listings 99 Active Listings 12 Active Listings 23
Homes Sold/Closed YTD 78 Homes Sold/Closed YTD 4 Homes Sold/Closed YTD 14
Avg Days on Market 169 Avg Days on Market 41 Avg Days on Market 107
Median Sales Price $336,000 Median Sales Price Median Sales Price $398,000
Avg Sales Price $454,000 Avg Sales Price $245,000 Avg Sales Price $419,000
SP/OLP 101% SP/OLP $375,000 SP/OLP 101%

106%

Area Athol/Bayview 06 NE Kootenai Co Area 12 Silver Valley Area All Kootenai Co

Active Listings 15 Active Listings 66 Active Listings 814
Homes Sold/Closed YTD 6 Homes Sold/Closed YTD 57 Homes Sold/Closed YTD 527
Avg Days on Market 98 Avg Days on Market 78 Avg Days on Market 114
Median Sales Price $435,000 Median Sales Price $200,000 Median Sales Price $425,000
Avg Sales Price $578,000 Avg Sales Price $214,000 Avg Sales Price $562,000
SP/OLP 105% SP/OLP 99% SP/OLP 100%

*Data provided by Cda MLS

Average sales price 434k
Kootenai County
Single Family Less than 2 Acres

13 month Change

25 % increase in Average sales price

348k

Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21

Average sales price 715K
Kootenai County
Single Family more than 2 Acres

13 Month Change

25 % increase in Average sales price

570K

Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21

Median sales price 850,000
Waterfront 3 Year change

All MLS

61 % increase in Median sales price

717,000

532,000

Jan 2018 Jan 2021

Premier Properties $800,000 +

Kootenai County

Homes For Sale

462
407

198 185 213 117%
187
163 114
162 116%

19-Jan 20-Jan 21-Jan

Active Pending Sold

Kootenai County $1,325,000

Waterfront 30%
Average Sales Price

$1,019,000

$837,000

19-Jan 20-Jan 21-Jan

New Construction Sales
All MLS Inventory

Inventory is down 79%

Single Family less than 2 acres
Jan 2020 vs Jan 2021

537,000 403,000 550,000 344,000 413,000

33% 46% 18% 29% 27%

382,000 301,000 376,000 293,000 320,000

Cda Area Post Falls Hayden Rathdrum Kootenai County
2020 2021



% Change in Sales Year over Year 48%

All MLS Residential 1Mill +

71%

15%

100-250K 250-500K 500-750K

-59%

6 Reasons …
Why we are not headed for a bubble

• 1. Mortgage standards are nothing like they were back
then.

• 2. Prices aren’t soaring out of control.

• 3. We don’t have a surplus of homes on the market. We
have a shortage.

6 Reasons…
Why we are not headed for the bubble

• 4. New construction isn’t making up the difference in
inventory needed. if we compare today to right before the
housing crash, we can see that an overabundance of newly
built homes was a major challenge then, but isn’t now.

• 5. Houses aren’t becoming too expensive to buy. Fifteen
years ago, prices were high, wages were low, and mortgage
rates were over 6%. Today, prices are still high. Wages,
however, have increased, and the mortgage rate is about 3%.

6. People are equity rich, not tapped out.

Mortgage Rate Projections

Quarter Freddie Fannie MBA NAR Average
Mac Mae of All Four

2021 2Q 2.9 2.8 3.1 3.0 2.95%

2021 3Q 3.0 2.9 3.3 3.0 3.05%

2021 4Q 3.0 2.9 3.4 3.1 3.10%

2022 1Q 3.1 3.0 3.6 3.2 3.22%

Noteworthy News…

• In the first 76 days of 2021, there have been 122 closed Premier properties
over $800,000.
71 of those were between $1-2 million
11 between $2-3 million
5 over $3million (highest is $6.4 million)

35 Months of Inventory Analysis
33 CDA Site Built < 2 Acres
31
30 December 1st , 2020 through February 28th , 2021

30 25

25

20 19

15
13

10 10 10
10

66

54 5

3 33 3 333

22 2

1 1 0 0 1 0 0 1 1 0 0 11 11 1 1
00
00 0 00 00 0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Residential Waterfront

December 1st ,2020 through February 28th , 2021

25

21 21
20

15

10

54

33

2 22 2 2
00
11 1 1 1 1 1 1
00 0
0 0 0 0 000 0 0 0 0 000 000 0 0 0 0 0 0 0 0 00 0
0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai Site Built < 2 Acres
December 1st, 2020 through February 28th, 2021

160

139
140

127

120

100 86
80 67
60 58

43
40

26
22 22

20

9 12
00
5 3 3 6 6 7 4 5 5 20 21 342 232 5 02 6 8
00 0 0 0 0 0 0 1 1 1 0 2

0

Active Listings Sold During Time Period Months of Inventory

9 Months of Inventory Analysis
Kootenai Site Built > 2 Acres
8 December 1st ,2020 through February 28th, 2021
8
8

7

6

55 5 55 5

5

44
4

3 3 33
3

2 22 2 22 22
11
2 2

11 1 11
1 1 1

0 00

00 00 00 00 00 00
0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Post Falls Site Built < 2 Acres
December 1st, 2020 through February 28th , 2021

70
60 59

50 37
42 35

40

30

20

12 10
10 8

00 10 00 10 3 00 10 4 5 01 2 01
0 11 1 0

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
December 1st, 2020 through February 28th , 2021

35
32

30

26

25 24

20

15

10

5 00 2 5 4 4 000 1
0 00 00 11 00
00
0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Hayden Site Built < 2 Acres
December 1st, 2020 through February 28th, 2021

20

18
18

16

14

12 10
11

10

8
7

6
555

4 4
3
4 333
3

2 2 22
1 11
2 1 1
11 1 00 0 00 0 0 0 0

00 00 00 0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Residential Sales Comparison Year over Year 585 590
All MLS

782 691

617

597
545

403 461 448
366 586

319
324

Jan Feb March April May June July Aug Sept Oct Nov Dec

2016 Sold 2017 Sold 2018 Sold 2019 Sold 2020 Sold 2021 Sold

*Data provided by CDA MLS