Annual Meeting 2019

YEAR END MARKET
UPDATE

2019

Residential Snap Shot
January 1 , 2018 – December 31, 2018

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 2036 Active Listings 1837 Active Listings 1043
Homes Sold/Closed YTD 1475 Homes Sold/Closed YTD 1354 Homes Sold/Closed YTD 688
Avg Days on Market Avg Days on Market Avg Days on Market 88
Median Sales Price 85 Median Sales Price 105 Median Sales Price
Avg Sales Price $289,000 Avg Sales Price $267,000 Avg Sales Price $334,000
SP/OLP $333,000 SP/OLP $310,000 SP/OLP $397,000

96% 98% 96%

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

Active Listings 747 Active Listings 81 Active Listings 301
Homes Sold/Closed YTD 535 Homes Sold/Closed YTD 57 Homes Sold/Closed YTD 218
Avg Days on Market 117 Avg Days on Market 83 Avg Days on Market 116
Median Sales Price $269,000 Median Sales Price $420,000 Median Sales Price $288,000
Avg Sales Price $306,000 Avg Sales Price $375,000 Avg Sales Price $302,000
SP/OLP 99% SP/OLP 96% SP/OLP 98%

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

Active Listings 145 Active Listings 486 Active Listings 6854
Homes Sold/Closed YTD 91 Homes Sold/Closed YTD 287 Homes Sold/Closed YTD 4654
Avg Days on Market Avg Days on Market 106 Avg Days on Market
Median Sales Price 106 Median Sales Price $120,000 Median Sales Price 100
Avg Sales Price $279,000 Avg Sales Price $131,000 Avg Sales Price $287,000
SP/OLP $314,000 SP/OLP 93% SP/OLP $350,000

97% 97%

*Data provided by Cda MLS

2018 AVERAGE SALES PRICE

ALL MLS

802,000

305,000 442,000 +14%
+12% +10% Res H2O

Res <2 Ac Res >2 Ac

*Data provided by Coeur d’Alene MLS

2018 AVERAGE SALES PRICE

ALL MLS

313,000

282,000

153,000 +19% +16%
Condo Multi-Family
+20%
Vacant Land

*Data provided by Coeur D’Alene MLS

RESIDENTIAL SINGLE FAMILY
< 2 ACRES KOOTENAI COUNTY
PRICE RANGE STATISTICS

$500-699,999 0-$149,999
7% 1%

$400-499,999 $150-199,999
8% 7%

$300-399,999 $200-249,999
26% 26%

$250-299,999
24%

Residential Median Sales Price by Year
Kootenai County

287,000

213,000

155,000

95,000

1995 2000 2006 2010 2018

*Data provided by CdA MLS

TALKING POINTS …… M.O.I.

• Absorption Rates have decreased from 2017’s year
end of just under 4 MOI, to 3.6 MOI Year in 2018
(Kootenai Residential)

• MOI for Multi Family are 2 ¾ months in Kootenai
County (Market Segment in Search of a Product)

• Absorption rates for Vacant Land are down 2
months to 16 MOI

KOOTENAI COUNTY BUILDING PERMITS & VALUE
2018

$348 Million

$31 Million $141 Million

1410 744 406 Value
Permits
Single Family Remodel/Other Commercial
Structures

Permits Value

2018 NEW CONSTRUCTION VS. RE-SALE

RESIDENTIAL SINGLE FAMILY

1063 Avg. Sales Price
$344,000
New +13%
Construction
Avg. Sales Price
Units $324,000
+13%

4105
Re-Sale
Units

New Construction was 21% of Single Family Sales in 2018
(increase from 19%) Single Family homes all MLS

(on Lots and Acres)

*Data provided by Coeur d’Alene MLS

AVERAGE DAYS ON MARKET 2018

ALL MLS

175 183

122 108
105 88

Res <2Ac Res >2Ac Res H2O Vacant Condo Multi Fam
Land

10

*Data provided by Coeur d'Alene MLS

Region 1- North Idaho
Projections by 2026
net growth of 45,000

people, 13%

Kootenai Counties Net
Increase in the past 10
years has been almost

19%, to158,000

Region 3- Southwest
Projections by 2026

net growth of
126,000 people,

11%

*Data provided by https://www.census.gov/library/visualizations/interactive/population-increase-2018.html

Cd’A Rathdrum
population population

51,000 8,300

Post Falls
population

33,000

Hayden
population

15,000

*Data provided by https://www.census.gov/library/visualizations/interactive/population-increase-2018.html

PAYROLL JOBS
(NON FARM 2017)

Government Construction
18% 8%

Manufacturing
8%

Leisure & Trade/Utilities/
Hospitality Transportation

14% 19%

Educational & Professional &
Health Services Business
Services
13% 11%

*Data provided by labor.idaho.gov



Idaho’s Net Increase
from 2010 is 12%,
187,000 people

WHAT'S ON THE HORIZON

Tax Bill Renters = Higher
Changes Standard Deductions

Millennials=
45% of

Mortgages in
2019

WHERE BUYERS FOUND THE HOME
THEY PURCHASED

Builder/Builder Print Media, 1%
Agent 5% Knew Seller 3%

Friend, Relative or
Neighbor 7%

Yard/Open House
Sign 7%

Internet 50%

Agent 28 %

*Data provided by NAR 2018 Profile on Home Buyers and Sellers

INTERESTING FACTS….

• First-time home buyers accounted for 33% of all
sales nationwide.

• Only 7% of 2018 sales were FSBO, which is a
decrease from last year. It also represents the lowest
number since 1981.

• Expected Tenure in homes for all buyer
demographics is 15 years now, while First-time
buyers is up to 10 years.

• Nationally New Construction sales
accounted for 14% of the market.

MLS CAGR 24 YEAR HISTORY

2.5 Billion

198 Million 2018
1995

*Data provided by Coeur d’Alene MLS

WINDERMERE REALTORS CAGR
24 YEAR HISTORY

605 Million

Wow… Incredible 2018

3 Million
1995

*Data provided by Coeur d’Alene MLS