June_2020

Real Estate Market Update

June 2020

Residential Snap Shot
January 1st , 2020- May 31st , 2020

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 812 Active Listings 794 Active Listings 381
Homes Sold/Closed YTD 437 Homes Sold/Closed YTD 465 Homes Sold/Closed YTD 184
Avg Days on Market Avg Days on Market 106 Avg Days on Market 100
Median Sales Price 85 Median Sales Price $315,000 Median Sales Price $351,000
Avg Sales Price $349,000 Avg Sales Price $341,000 Avg Sales Price $401,000
SP/OLP $370,000 SP/OLP 99% SP/OLP 98%

98%

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

Active Listings 421 Active Listings 25 Active Listings 187
Homes Sold/Closed YTD 198 Homes Sold/Closed YTD 11 Homes Sold/Closed YTD 62
Avg Days on Market 123 Avg Days on Market 78 Avg Days on Market 79
Median Sales Price $307,000 Median Sales Price $502,000 Median Sales Price
Avg Sales Price $352,000 Avg Sales Price $469,000 Avg Sales Price $322,000
SP/OLP 99% SP/OLP 97% SP/OLP $350,000

98%

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

Active Listings 97 Active Listings 231 Active Listings 802
Homes Sold/Closed YTD 37 Homes Sold/Closed YTD 101 Homes Sold/Closed YTD 1470
Avg Days on Market 116 Avg Days on Market 101 Avg Days on Market
Median Sales Price $370,000 Median Sales Price $156,000 Median Sales Price 101
Avg Sales Price $374,000 Avg Sales Price $177,000 Avg Sales Price $331,000
SP/OLP 97% SP/OLP 94% SP/OLP $381,000

98%

*Data provided by Cda MLS

Residential Sales Comparison Year over Year
All MLS

722
691

585
590

420 617

439 586

461 448 509
396
462

319 310

311
324

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

2015 Sold 2016 Sold 2017 Sold 2018 Sold 2019 Sold 2020 Sold

*Data provided by CDA MLS

Robert Dietz, Chief Economist and Senior Vice President for Economics and
Housing Policy of the National Association of Home Builders (NAHB) says:

“Overall, the data lends evidence to the
NAHB forecast that housing will be a
leading sector in an eventual economic
recovery.”





April vs May Month over Month Changes

Single Family Resale

Rathdrum/Twin

Cd'A Post Falls Hayden Lakes NW Kootenai Co NE Kootenai Co Kootenai Co

35% 3% 22% 37%
4% -27% 5%
7%
0 1%

-0.50% -7%
-6% -12%

Closed Sales Average Closed Price

March vs May Month over Month Changes

Resale Single Family

Rathdrum/Twin

Cd'A Post Falls Hayden Lakes NW Kootenai Co NE Kootenai Co Kootenai Co

Average Closed Price 20%

7.00% 7%
3% 2%
1%

-10%

Compare this to our market….

Single Family-Kootenai County Pending Sales by month

600

499

500 455 455

400 388 392

300

200

100

0

20-Jan 20-Feb 20-Mar 20-Apr 20-May

Single Family-Kootenai County Average Sales Price by month

385 382

380

375 372
370 369 367

365
360

355

355
350
345
340

20-Jan 20-Feb 20-Mar 20-Apr 20-May

What the experts say….

• “Mortgage demand from home buyers
shows unexpectedly strong and quick
recovery…The quick recovery has surprised
most forecasters.” CNBC

A Reason to Call…..

• “With global travel screeching to a halt during the pandemic, a
number of Airbnb hosts are planning to sell their properties…These
desperate moves come as hosts face the possibility of losing
thousands of dollars a month in canceled bookings while bills,
maintenance costs, and mortgage payments pile up.”

What about ZESTIMATES…..

Region RegionName StateName CountyName CityName ForecastedDate ForecastYoYPctChange

https://www.zillow.com/research/data/

Talking Points…..

• Prepare your buyers for multiple offer scenarios, and higher than list
price accepted offers.

• NE Kootenai County has experienced the highest increase in value.

• For the last 3 months single family values continue to increase.

60 Months of Inventory Analysis
CDA Site Built < 2 Acres
50 52
42 March 1st, 2020 through May 31st, 2020
40
25 51
30 14
20 19 32
12
10 24 8 10
23 7 00
3 6 3 3
22 21 22 11
1 20
0 0
17

8
6

123

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Residential Waterfront

March 1st, 2020 through May 31st, 2020

30

25 24

21 21
20

15 12
12 12

10 99 9

8
8

6

5 5 55
2 4
54 4 44 4
3 1
3 33 3 3 33 3
22 22
11 22 2 22 22 22
00 1 1
11 1 11 1
0
0 00

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai Site Built < 2 Acres
March 1st, 2020 through May 31st, 2020

250

207
200

166

150
133

100
87

76 78

55 58 56
50
49
43 43

21 20 16 11 16 12
4 75 4
5 6 1 2 2 2 3 6 864 99 10 73 31 42 52
11 0 3 00

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Kootenai Site Built > 2 Acres
March 1st, 2020 through May 31st, 2020

25

21
20

17

15 14 14

13 13 13

12

11 11

10
10

8

77

6 66 66

5
5

34 33 3 333

22 3 3 2
2
2

11 11 1 1 1 11

00 0

0

Active Listings Sold During Time Period Months of Inventory

90 Months of Inventory Analysis
80 Post Falls Site Built < 2 Acres
70 March 1st, 2020 through May 31st, 2020
60
50 83
40
30 64
20
10 19 44 17 98 33 5 21
40 9 3 0
100 4
0 1 30 2
28
20

14

1221

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
March 1st, through May 31st , 2020

45

40 41

35 5
0
30

27

25

20

15

10 10 8
7 1 6

5 2 4 44 3
3 3 11
1
0 2 2
00
0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Hayden Site Built < 2 Acres
March 1st, 2020 through May 31st, 2020

35

31
30

25 24

20

16

15 14
13
12

11 11

10 9

7 7 6
6 66

5 4 45 4 44

3 33

112 22 2 22
11
11 1

000

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS