September 2020
Market Update
Residential Snap Shot
January 1st, 2020- August 31st, 2020 Residential
Area 01 CdA Area Snap Shot 02 Post Falls Area 03 Hayden
Active Listings November 1st, 2018 – January 31, 2019 642
Homes Sold/Closed YTD 1,313 Active Listings 1,276 Active Listings 414
Avg Days on Market 93
Median Sales Price 915 Homes Sold/Closed YTD 935 Homes Sold/Closed YTD $377,000
Avg Sales Price $442,000
SP/OLP 82 Avg Days on Market 101 Avg Days on Market 98%
$358,000 Median Sales Price $327,000 Median Sales Price
$402,000 Avg Sales Price $377,000 Avg Sales Price
98% SP/OLP 99% SP/OLP
Area 04 Rathdrum/Twin Lakes Area 04a Hauser Lake Area 05 Athol/Spirit Lake NW Kootenai Co
Active Listings 610 Active Listings 42 Active Listings 274
Homes Sold/Closed YTD 390 Homes Sold/Closed YTD 23 Homes Sold/Closed YTD 141
Avg Days on Market 109 Avg Days on Market 83 Avg Days on Market
Median Sales Price $319,000 Median Sales Price $450,000 Median Sales Price 90
Avg Sales Price $369,000 Avg Sales Price $439,000 Avg Sales Price $335,000
SP/OLP 99% SP/OLP 97% SP/OLP $376,000
99%
Area Athol/Bayview 06 NE Kootenai Co Area 12 Silver Valley Area All Kootenai Co
Active Listings 131 Active Listings 356 Active Listings 4,693
Homes Sold/Closed YTD 76 Homes Sold/Closed YTD 202 Homes Sold/Closed YTD 3,076
Avg Days on Market Avg Days on Market Avg Days on Market
Median Sales Price 102 Median Sales Price 95 Median Sales Price 96
Avg Sales Price $432,000 Avg Sales Price $161,000 Avg Sales Price $350,000
SP/OLP $462,000 SP/OLP $176,000 SP/OLP $425,000
95% 94% 98%
*Data provided by Cda MLS
Months of Inventory Analysis
Kootenai Site Built < 2 Acres
June 1st, 2020 through August 31st, 2020
300
265
249
250
200
186
150
132
100 88
62 55 52
56
50 41
30
34
26 24
6 0 1 1 1 14 12 7 17 11 12 122 682 5 63 8 33
0 111 1 6 41 51 0 1
0 1
Active Listings Sold During Time Period Months of Inventory
Kootenai County Single Family Resale
Kootenai County Single Family Resale
Month over Month
Kootenai County Single Family Resale
Year over year
Kootenai County Single Family Resale
YTD over YTD
Premier Properties
• In the last 45 days….
– 56 homes have sold in Kootenai County over $1Mill
• 38 of those were cash (almost 70%)
• Bonner County has 13 sales over 1 Million
• 11 of those were cash
Purchase Applications
Week-Over-Week Difference
15%
13%
11%
7% 7% 7% 2% 5%
0% 6% 2%
3%
1%
-2% -1% -1%
-4% -2% -2%
-3%
-5%
-7%
-10% not seasonally adjusted
-11%
-12%
-14%
3/11 3/18 3/25 4/1 4/8 4/15 4/22 4/29 5/6 5/13 5/20 5/27 6/3 6/10 6/17 6/24 7/1 7/8 7/15 7/22 7/29 8/5 8/12 8/19 8/26 9/2
MBA
Percentage Change in Newly Pended Deals
Week-Over-Week Difference
12.1%
11%
9.1%
4.8% 7.1% 6% 5.6%
3.3% 3.1% 1% 4.3% 3.4% 3.9%
1.2% 1.3%
0.2%-0.6%
3/7 3/14 3/21 3/28 4/4 4/11 4/18 4/25 5/2 5/9 5/16 5/23 5/30 6/6 6/13 6/20 6/27 7/4 7/11 7/18 7/25 8/1 8/8 8/15 8/22
-2.2% -0.9% -1.2% -0.7%
-7.7% -9.7%
-11%
-13.6%
Zillow
Percentage Change in Newly Pended Deals
Year-Over-Year Difference
16.1% 16.9% 16.5%
13.8% 15.1%
7/25 8/1 8/8 8/15 8/22
Zillow
Projections on Future Home Prices
4.4% 4.3% 4% Some project for the current year (*)
3.6% Others over the next 12 months (**)
3%
3%
2.3%
0.6%
Fannie Mae* NAR* MBA* Zillow** Zelman** Reuters' Poll** Freddie Mac* CoreLogic** Haus**
-1.1%
“The COVID-19 pandemic will lead to
a rise in mortgage defaults and
foreclosures. But as the housing
market muscles through this economic
downturn, it looks as if foreclosures
will form a trickle rather than a flood,
housing experts say.”
Jeff Ostrowski
Senior Mortgage Reporter at Bankrate
Buyer Traffic Index
NAR
Talking Points…
• Y Over Y - YTD Median Sales values are up 16%
residential all MLS
• Y Over Y - YTD Single Family Kootenai county
Median is up 12%
– Vacant Land Koot Co is up 24%
• Average DOM for Resale all MLS is 79
Months of Inventory Analysis
CDA Site Built < 2 Acres
June 1st, 2020 through August 31st, 2020
90
80 79
72
70
61
60
55
50
41
40
30
20 19 17 12 10 21 24 10 6 6 4
1 1 1 1 4 21 22
12 7 5 4
10 1 1 1 2
1
0
Active Listings Sold During Time Period Months of Inventory
*Data provided by Cda MLS
Months of Inventory Analysis
Residential Waterfront
June 1st, 2020 through August 31st, 2020
25
21
20
15
10 3 5 8 7 5 8 4 5 6 4 5
11 11 00 00 11 4 4 3 11
5 2 2
2 1 1 2 2 2 2 2
2 00 2 2
1 1 1
0
Active Listings Sold During Time Period Months of Inventory
*Data provided by Cda MLS
Months of Inventory Analysis
Kootenai Site Built > 2 Acres
June 1st, 2020 through August 31st, 2020
30
25 24
22
20
16
15
12
11 11
10 10 10
10 9 9
8
7
66 6
55 5 55 5
333
4 4
33
33 33
22 2 2 2 2 2 22
2 1 1
111
11
0
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Post Falls Site Built < 2 Acres
June 1st, 2020 through August 31st, 2020
120
109
100
94
80
72
60
40
40 32
20 17 22
10 8 10 5 10 14 10 23 8 2
0 0 10 0 1 10 3 0 0
1
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
June 1st, through August 31st, 2020
35
32
31
30
25
20
15
15
10 9
7
5 44 55
5 44
2 1 11
00 00 0
0 0 1 11
00
00
0
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Hayden Site Built < 2 Acres
June 1st, 2020 through August 31st, 2020
40
36
35 34
33
30
25
21
20
17
15 14
12
11
10
7 66
1 55
54 3 33
0
00 2 2 11 1 1 1 1
0 0 0
1 0 0
Active Listings Sold During Time Period Months of Inventory
*Data provided by Cda MLS
Residential Sales Comparison Year over Year
All MLS
782 801
722 691
420 628 585
590
586 617
439 448 509
396
461 462
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