Market Update April 2023
*Data provided by Cda MLS Residential Snap Shot January 1st, 2023- March 31st , 2023 Area 01 CdA Active Listings 453 Homes Sold/Closed YTD 157 Avg Days on Market 88 Median Sales Price $545,000 Avg Sales Price $587,000 SP/OLP 91% Area 02 Post Falls Active Listings 455 Homes Sold/Closed YTD 200 Avg Days on Market 99 Median Sales Price $453,000 Avg Sales Price $506,000 SP/OLP 95% Area 03 Hayden Active Listings 215 Homes Sold/Closed YTD 73 Avg Days on Market 95 Median Sales Price $550,000 Avg Sales Price $729,000 SP/OLP 92% Area 04 Rathdrum/Twin Lakes Active Listings 327 Homes Sold/Closed YTD 83 Avg Days on Market 143 Median Sales Price $480,000 Avg Sales Price $594,000 SP/OLP 96% Area 04a Hauser Lake Active Listings 46 Homes Sold/Closed YTD 10 Avg Days on Market 138 Median Sales Price $868,000 Avg Sales Price $822,000 SP/OLP 93% Area 05 Athol/Spirit Lake NW Kootenai Co Active Listings 65 Homes Sold/Closed YTD 19 Avg Days on Market 97 Median Sales Price $425,000 Avg Sales Price $561,000 SP/OLP 95% Area Athol/Bayview 06 NE Kootenai Co Active Listings 45 Homes Sold/Closed YTD 12 Avg Days on Market 179 Median Sales Price $1,067,000 Avg Sales Price $977,000 SP/OLP 95% Area 12 Silver Valley Active Listings 127 Homes Sold/Closed YTD 51 Avg Days on Market 93 Median Sales Price $289,000 Avg Sales Price $302,000 SP/OLP 92% Area All Kootenai Co Active Listings 1,732 Homes Sold/Closed YTD 578 Avg Days on Market 105 Median Sales Price $505,000 Avg Sales Price $626,000 SP/OLP 93%
341 324 461 435 586 617 396 691 585 590 344 266 199 249 346 Jan Feb March April May June July Aug Sept Oct Nov Dec 2018 Sold 2019 Sold2 2020 Sold 2021 Sold2 2022 Sold 2023 Sold2 Residential Sales Comparison Year over Year All MLS *Data provided by CDA MLS
Source: realtor.com Change in Inventory Month-Over-Month, February 2023
Source: Lance Lambert, Forbes Housing Market Short Millions of Homes Company # of Homes Short realtor.com -5.24 Million Bank of America -4 Million Freddie Mac -3.8 Million Morgan Stanley -2 Million John Burns Consulting -1.7 Million Moody’s Analytics -1.6 Million Number of Homes Each Company Forecasts the Market Being Short
Mortgage Rate Projections March 2023 Quarter Fannie Mae MBA NAR Average of All Three 2023 Q1 6.40% 6.40% 6.70% 6.50% 2023 Q2 6.40% 6.10% 6.30% 6.27% 2023 Q3 6.20% 5.70% 5.90% 5.93% 2023 Q4 6.10% 5.30% 5.60% 5.67%
Source: MBA Lending Standards Still Under Control Historic Data for the Mortgage Credit Availability Index (MCAI) 0 100 200 300 400 500 600 700 800 900 June 2004 June 2005 June 2006 June 2007 June 2008 June 2009 June 2010 June 2011 June 2012 June 2013 June 2014 June 2015 June 2016 June 2017 June 2018 June 2019 June 2020 June 2021 June 2022 Jan 2023 Housing Bubble: 868.7 103.2
Average Sales Price All MLS $610,245 $880,000 $1,904,000 $567,509 $870,750 $1,768,133 Res <2 Ac Res >2 Ac Res H2O *Data provided by Coeur d’Alene MLS Compares 2022 Year end to 1st Qtr 2023 -7% -1% -8%
2022/2023 Average Sales Price All MLS 331,000 585,000 736,000 337,418 484,624 500,833 Vacant Land Condo Multi-Family *Data provided by Coeur D’Alene MLS +2% -21% -47% Compares 2022 to 2023 1st Qtr
% Increase in Median Sold Values Kootenai County all Residential 290,000 320,000 375,000 501,000 575,000 506,846 2018 2019 2020 2021 2022 2023 1st Qtr 10% 17% 34% 15% -13%
Median Sales Price Increase by County Y.O.Y All Residential -33% -13% -10% -4% -3% Benewah Kootenai Bonner Boundary Shoshone $425,000 $534,000 $507,000 $291,000 $260,000
Median Sales Price Increase by County Y.O.Y All Residential -33% -13% -10% -4% -3% Benewah Kootenai Bonner Boundary Shoshone $425,000 $534,000 $507,000 $291,000 $260,000
New Listings By Month
Housing Affordability Index Kootenai County The Higher the number the greater the affordability is. The number represents the median household % needed to qualify for median priced home. *Data Supplied by KCGOV.US 88 90 62 78 52 72 New Construction Re-Sale 2021 2022 2023 2021 2022 2023
Talking Points New Listing Inventory is 59% higher than this time last year (YTD) Pending Sales are up about 10% Y.O.Y. However closed sales are still down from last year by nearly 14% Days on Market has increased 26% to around 148 New Construction Re-Sale New Listing Inventory is down 5% Y.O.Y. Pending Sales are down 22% Closed sales are down 31%