September_2021

MARKET UPDATE

SEPTEMBER

Residential Snap Shot
January 1st, 2021- August 31st, 2021

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 1,203 Active Listings 1,121 Active Listings 625
Homes Sold/Closed YTD 905 Homes Sold/Closed YTD 884 Homes Sold/Closed YTD 458
Avg Days on Market 73 Avg Days on Market 74 Avg Days on Market
Median Sales Price Median Sales Price Median Sales Price 70
Avg Sales Price $499,000 Avg Sales Price $436,000 Avg Sales Price $552,000
SP/OLP $575,000 SP/OLP $492,000 SP/OLP $691,000

100% 102% 99%

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

Active Listings 519 Active Listings 68 Active Listings 187
Homes Sold/Closed YTD 435 Homes Sold/Closed YTD 38 Homes Sold/Closed YTD 145
Avg Days on Market 112 Avg Days on Market 77 Avg Days on Market
Median Sales Price $435,000 Median Sales Price $707,000 Median Sales Price 88
Avg Sales Price $507,000 Avg Sales Price $665,000 Avg Sales Price $486,000
SP/OLP 101% SP/OLP 100% SP/OLP $537,000

100%

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

Active Listings 76 Active Listings 340 Active Listings 4,086
Homes Sold/Closed YTD 46 Homes Sold/Closed YTD 245 Homes Sold/Closed YTD 3,081
Avg Days on Market 60 Avg Days on Market Avg Days on Market
Median Sales Price $691,000 Median Sales Price 64 Median Sales Price 80
Avg Sales Price $679,000 Avg Sales Price $240,000 Avg Sales Price $480,000
SP/OLP 97% SP/OLP $253,000 SP/OLP $605,000

97% 100%

*Data provided by Cda MLS

Residential Sales Comparison Year over Year
All MLS

782 691 585 590

662 642
617 597
597
510 546 545 545

366 403 461 448
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



HOME PRICE CHANGE BY STATE

Home Value Forecasting into Next Year

BUYING A HOME GOT MORE CHALLENGING…..

SAYS ZILLOW

• Despite low interest rates and an increased desire among renters to
buy their next home, 2021’s survey suggests that home buying became
more challenging than past years.

• The typical (median) buyer submitted two offers
• First-time buyers also got more scarce: they represented 43% of

buyers when surveyed in 2020, but only 37% in 2021.

WHAT IS HAPPENING……
DO YOU FEEL THE SHIFT YET?

• There are signs the market may be nearing the peak of home price
appreciation, as 22 of the top 50 metros had slower month-over-month
growth in July than they did in June.

• All signs point to the likelihood that the market is beginning to cool off.
• Price Reductions, Increased Inventory, Slow down of Buyer demand…

# OF PRICE REDUCTIONS PER WEEK

73 77
70 68

66

60
57

51 51
40 47

43

34

30 28
26 24

21

# OF PENDING SALES PER WEEK

83

75 75 70 70 72 71
69 68 64

61 60 62 60 49

56

52

48

Single Family Kootenai County Last 15 Weeks

Single Family Entire MLS Last 15 Weeks

New Inventory Vs Pending
Kootenai County Single Family





MONTHLY NEW LISTINGS

ALL MLS

Single Family < 2 Acres

575 554 573 560
522 502 526
484 481 503 495

412 382 419 406 353
311 252 254

174

Jan-20 Feb March April May June July Aug Sept October November December Jan-21 Feb2 March2 April2 May2 June2 July2 August

MONTHLY MEDIAN SALES VALUES

KOOTENAI COUNTY

Single Family < 2 Acres

500,000 508,000 509,000

475,000 450,000 472,500 475,000

413,000 422,000

January Feb March April May June July Aug Sept

MONTHLY MEDIAN SALES VALUES

CD’A

Single Family < 2 Acres

535,000 525,000 511,000 540,000 538,000 530,000

467,000 490,000

441,000

January Feb March April May June July Aug Sept

MONTHLY MEDIAN SALES VALUES

POST FALLS

Single Family < 2 Acres

500,000

451,000 437,000 445,000 453,000 467,000

404,000 401,000 425,000

January Feb March April May June July Aug Sept

MONTHLY MEDIAN SALES VALUES
RATHDRUM (RE-SALE)

Single Family < 2 Acres

525,000

450,000 480,000 450,000 470,000

420,000 432,000 435,000

375,000

January Feb March April May June July Aug Sept

TALKING POINTS

• Sold units are down 21% from this time last year in Kootenai County
• Pending sales are down 5%
• Overall the Average Sold Price in Kootenai County is up 34% compared to same time last year.
• Bonner County is even higher at 43% Average Sales price increase, but there homes sold is down 19%.
• Shoshones inventory is getting even tighter now, with 23% less inventory than this time last year, this is

pushing the values up even higher by 51% Year over Year.