December_2021.pptx_(1)

December 2021 Market Update

Residential Snap Shot
January 1st, 2021- November 30th, 2021

Residential Snap Shot
Area 01 Area 02 Post Falls Area 03 Hayden
CdA
November 1st, 2018 – January 31, 2019 797
Active Listings Active Listings 1,470 Active Listings 634
Homes Sold/Closed YTD
Avg Days on Market 1,484 Homes Sold/Closed YTD 1,256 Homes Sold/Closed YTD 71
Median Sales Price $560,000
Avg Sales Price 1,241 Avg Days on Market 73 Avg Days on Market $697,000
SP/OLP
72 Median Sales Price $450,000 Median Sales Price 96%

$509,000 Avg Sales Price $497,000 Avg Sales Price

$586,000 SP/OLP 101% SP/OLP

99%

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

Active Listings 679 Active Listings 99 Active Listings 245
Homes Sold/Closed YTD 610 Homes Sold/Closed YTD 56 Homes Sold/Closed YTD 209
Avg Days on Market 105 Avg Days on Market 97 Avg Days on Market
Median Sales Price $450,000 Median Sales Price $683,000 Median Sales Price 80
Avg Sales Price $510,000 Avg Sales Price $661,000 Avg Sales Price $501,000
SP/OLP 100% SP/OLP 99% SP/OLP $546,000

98%

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

Active Listings 99 Active Listings 411 Active Listings 5,232
Homes Sold/Closed YTD 68 Homes Sold/Closed YTD 345 Homes Sold/Closed YTD 4,326
Avg Days on Market 61 Avg Days on Market Avg Days on Market
Median Sales Price $563,000 Median Sales Price 66 Median Sales Price 78
Avg Sales Price $643,000 Avg Sales Price $249,000 Avg Sales Price $490,000
SP/OLP 96% SP/OLP $260,000 SP/OLP $625,000

96% 98%

*Data provided by Cda MLS

Residential Sales Comparison Year over Year
All MLS

*Data provided by CDA MLS

Pre pandemic what were millennials all about?

◦ Travel
◦ Flexible living (moving frequently)

Now rents are increasing, incomes are increasing, they cant travel as freely,
they are entering the home buying process more

Why there may be Continued
Momentum in the Market…

Politics

Demand Loan Demographic
Applications Demand
(Millennials)
%
TOrMWepnopidnnosttsehinrsg
Inventory
Supply

The modern Santa Claus is mainly a

mInixsoef rwthatrt itvwioafigures?

Saint Nicholas and Father Christmas

Are you prepared for
increased listing activity?



Today’s Homeowners Are Staying in Their
Houses for an Average of 8 Years

1985-2008 Average Pent-Up Seller Demand
Tenure was 6 Years
2008-2021 Average
Tenure was 9.2 Years

NAR 2021 Profile of Home Buyers and Sellers

Should your seller remodel?

Q: When do most listings
come on the market?

THIS WINTER

X X X X X XA: The 2nd Quarter of Each Year

What was thInseertpToriveiam “Twas the Night Before
Christmas” originally titled?

A Visit from St. Nicholas









In the song Twelve Days of Christmas,
what is given on the 7th day?

Insert trivia

Swans a-swimming

Home Sales Forecast To Increase This
Year and Perform Well Again in 2022

6.5 Million Homes Sold in 2020

What the experts say…

Total existing-home sales in 2021 will exceed 6 million, which will
shape up to be the best performance in 15 years.” 
Lawrence Yun

Look for mortgage rates to average about one-half of a percentage point
higher in 2022 than they were in 2021, or about 3.4%. Core Logic

The end of foreclosure moratoria and the CARES Act forbearance programs will likely
result in a rise in distressed sales in 2022, but this increase will be small.

With less demand, we expect homes listed for sale will be on the market a bit
longer with fewer competing bidders, which should moderate price growth.

Rent growth on single-family homes reached the highest ever recorded in the
CoreLogic Single-Family Rent Index in 2021 and is projected to slow as additional
rentals enter the market.

Local Talking Points…

Kootenai County Average Sold Prices are up 31% compared to this time last
year, however the appreciation expected to slow in 2022 considerably.
New Inventory is up slightly, 106 vs 86 last year.
Days on Market remain about the same just under 100 DOM
Median Sales price In Kootenai County is $490,000, average is $625,000
Price reductions are noticeable in the market, with an OLP/SP @ 98%

Merry Christmas