March 2023 Market Update
*Data provided by Cda MLS Residential Snap Shot January 1st, 2023- February 28th, 2023 Area 01 CdA Active Listings 322 Homes Sold/Closed YTD 97 Avg Days on Market 91 Median Sales Price $550,000 Avg Sales Price $573,000 SP/OLP 94% Area 02 Post Falls Active Listings 337 Homes Sold/Closed YTD 111 Avg Days on Market 109 Median Sales Price $475,000 Avg Sales Price $498,000 SP/OLP 94% Area 03 Hayden Active Listings 170 Homes Sold/Closed YTD 45 Avg Days on Market 88 Median Sales Price $600,000 Avg Sales Price $731,000 SP/OLP 92% Area 04 Rathdrum/Twin Lakes Active Listings 226 Homes Sold/Closed YTD 41 Avg Days on Market 140 Median Sales Price $485,000 Avg Sales Price $553,000 SP/OLP 95% Area 04a Hauser Lake Active Listings 29 Homes Sold/Closed YTD 5 Avg Days on Market 145 Median Sales Price $1,050,000 Avg Sales Price $849,000 SP/OLP 95% Area 05 Athol/Spirit Lake NW Kootenai Co Active Listings 49 Homes Sold/Closed YTD 11 Avg Days on Market 108 Median Sales Price $418,000 Avg Sales Price $563,000 SP/OLP 93% Area Athol/Bayview 06 NE Kootenai Co Active Listings 33 Homes Sold/Closed YTD 8 Avg Days on Market 200 Median Sales Price $1,185,000 Avg Sales Price $1,057,000 SP/OLP 97% Area 12 Silver Valley Active Listings 106 Homes Sold/Closed YTD 27 Avg Days on Market 87 Median Sales Price $240,000 Avg Sales Price $261,000 SP/OLP 91% Area All Kootenai Co Active Listings 1,255 Homes Sold/Closed YTD 328 Avg Days on Market 107 Median Sales Price $514,000 Avg Sales Price $613,000 SP/OLP 94%
341 324 461 435 586 617 396 691 585 590 344 266 199 249 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
MEDIAN SOLD VALUES BY COUNTY YEAR OVER YEAR SINGLE FAMILY 550,000 309,000 638,000 350,000 460,000 530,000 235,000 546,000 260,000 467,000 Kootenai Shoshone Bonner Benewah Boundary 2022 TYD 2023 YTD *Data provided by TrendGraphix -3% -24% -14% -26% +1.5%
MEDIAN SOLD VALUES BY COUNTY SINCE PEAK IN APRIL 2022 SINGLE FAMILY 625,000 312,000 752,000 356,000 567,000 530,000 235,000 546,000 260,000 467,000 Kootenai Shoshone Bonner Benewah Boundary 2022 2023 YTD *Data provided by TrendGraphix -18% -32% -38% -37% -21%
MEDIAN SOLD VALUES BY CITY YEAR OVER YEAR SINGLE FAMILY 588,000 510,000 624,000 510,000 723,000 574,000 490,000 600,000 499,000 573,000 Cda/Dalton Post Falls Hayden Rathdrum Sandpoint 2022 YTD 2023 YTD *Data provided by TrendGraphix -2% -4% -4% -2% -26%
MEDIAN SOLD VALUES BY CITY SINCE THE PEAK IN APRIL SINGLE FAMILY 675,000 556,000 675,000 575,000 713,000 574,000 490,000 600,000 499,000 573,000 Cda/Dalton Post Falls Hayden Rathdrum Sandpoint 22-Apr 2023 YTD *Data provided by TrendGraphix -15% -12% -11% -13% -24%
RE-SALE SINGLE FAMILY KOOTENAI COUNTY MEDIAN FOR SALE AND SOLD VALUES LAST 15 WEEKS
KOOTENAI COUNTY ALL PROPERTIES • Months of Inventory YTD is 3.5 • Avg DOM have gone from 83 to 107 • OLP/SP has dipped from 97% to 94% • Pending sales are down 15% YTD but up from the beginning of the year
New Construction Listings are up 40% in Kootenai County Y.O. Y Resales listings are down 17%
ALL MLS/ALL PROPERTIES
RENT VS BUYER EQUITY CHART
CONSTRUCTION COSTS QTR OVER QTR • Concrete Block +2% • Drywall +4% • Lumber -15% • Plywood -11% • National Average Building Construction Costs are down .55% from this time last year.
-1.03%
VACANT LAND KOOTENAI CO
MULTI FAMILY RESALE KOOTENAI CO
SINGLE FAMILY RE-SALE KOOTENAI CO
NEW CONSTRUCTION SINGLE FAMILY KOOTENAI COUNTY
TALKING POINTS • Values have come down since April (the peak) 2022 as much as 15% in some cities for Single Family . • Vacant Land has seen some of the wildest fluctuations in pricing and what buyers are willing to purchase. • The first 2 months of the year offered deeper discounts than normal for homebuyers (94% OLP/SP).