October 2019 (1)

MARKET UPDATE
3RD QUARTER 2019

Residential Sales Comparison Year over Year
All MLS

722 676

583 653 691 590

630

535 617 585

586

461 462 530
388
461 459

319 311 307

324

Jan Feb March April May June July Aug Sept Oct Nov Dec

2014 Sold 2015 Sold 2016 Sold 2017 Sold 2018 Sold 2019 Sold

*Data provided by CDA MLS

Residential Snap Shot
January 1st , 2019- September 30th , 2019

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 1676 Active Listings 1700 Active Listings 838
Homes Sold/Closed YTD 1082 Homes Sold/Closed YTD 1076 Homes Sold/Closed YTD 511
Avg Days on Market Avg Days on Market Avg Days on Market
Median Sales Price 83 Median Sales Price 98 Median Sales Price 86
Avg Sales Price $320,000 Avg Sales Price $285,000 Avg Sales Price $352,000
SP/OLP $363,000 SP/OLP $313,000 SP/OLP $415,000

97% 99% 97%

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

Active Listings 627 Active Listings 49 Active Listings 219
Homes Sold/Closed YTD 376 Homes Sold/Closed YTD 26 Homes Sold/Closed YTD 145
Avg Days on Market 105 Avg Days on Market 74 Avg Days on Market 88
Median Sales Price $287,000 Median Sales Price $496,000 Median Sales Price $300,000
Avg Sales Price $331,000 Avg Sales Price $492,000 Avg Sales Price $326,000
SP/OLP 98% SP/OLP 98% SP/OLP 98%

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

Active Listings 115 Active Listings 412 Active Listings 5767
Homes Sold/Closed YTD 56 Homes Sold/Closed YTD 235 Homes Sold/Closed YTD 3454
Avg Days on Market 92 Avg Days on Market 102 Avg Days on Market
Median Sales Price Median Sales Price $137,000 Median Sales Price 94
Avg Sales Price $385,000 Avg Sales Price $152,000 Avg Sales Price $313,000
SP/OLP $408,000 SP/OLP 95% SP/OLP $367,000

96% 96%

*Data provided by Cda MLS

3RD QUARTER MEDIAN SALES PRICE COMPARISON
2017 / 2018 / 2019

Kootenai County Single family

497,000

460,000

420,000

279,000 305,000

247,000

+10% +7%

+12% +17%

Less than 2 Ac 2017 2018 2019 More Than 2 Ac

Total Sales down 2.5% Total Sales down 11%

3RD QUARTER MEDIAN SALES PRICE COMPARISON
2017 / 2018 /2019
330,000
Kootenai County Multi family & Condos

274,000 285,000

249,950

+14% 180,000 189,000 +32%

+4% +5%

Multi Family 2017 20182 2019 Condo

Total Sales down 34% Total Sales down 10%

3RD QUARTER MEDIAN SALES PRICE COMPARISON
2017 / 2018 / 2019

800,000 Kootenai County

525,000 640,000

+22% +25% 415,000 435,000

360,000

+5%

+15%

Waterfront 2017 2018 2019 Sec Waterfront

Total Sales down 21% Total Sales N/C

3RD QUARTER MEDIAN SALES PRICE COMPARISON
2017 / 2018 / 2019

Kootenai County Land 135,000

115,000 115,500

79,000 90,000 89,000 +14%

+15% N/C +.5%

Vacant Lot 2017 2018 2019 Land 1-10 Acres

Total Sales down 4% Total Sales down 10%

3RD QUARTER MEDIAN SALES PRICE COMPARISON
2017 / 2018 / 2019

Kootenai County 305,000

246,000

225,000

162,500 178,000 +22%
+10%
142,000 +4%

+9%

Land 10Ac + Manuf over 2 Ac

Total Sales N/C 2017 2018 2019 Total Sales down 22%

Year-Over-Year Change in Price

By Region

9/2019 FHFA

Year-Over-Year Change in Price

9/2019 FHFA

Forecasted Year-Over-Year % Change in Price

08/2019 CoreLogic

Year-Over-Year Change in Price by Price Range

5.5% CoreLogic Home Price Index

4.5%

National 3.8%

Kootenai County 2.8%
2.5%

1% 1% 1%

Low Price Low-to-Middle Middle-to-Moderate High Price

• “It is very encouraging that buyers are responding to
exceptionally low interest rates…With interest rates
expected to remain low, home sales are forecasted to
rise in the coming months and into 2020.”

Lawrence Yun, Chief Economist with the National Association of Realtors

Mortgage Rate Projections

Quarter Freddie Mac Fannie Mae MBA NAR Average
of All Four
2019 4Q 3.6 3.7 3.7 3.5
3.62%
2020 1Q 3.6 3.7 3.7 3.5
3.62%
2020 2Q 3.6 3.7 3.8 3.6
3.67%
2020 3Q 3.7 3.7 4.0 -
3.80%

“If the 30-year, fixed-rate
mortgage declines just a fraction
more, consumer house-buying
power would reach its highest
level in almost 20 years.”

Mark Fleming

First American’s Chief Economist































Months of Inventory Analysis
Kootenai Site Built < 2 Acres
July 1st ,2019 through September 30th , 2019

350

311

300

250

206
200

160
148
150

105
100 95 92

81

50 44 48
42

1822 3328 21
32 63
122 333 18 13 1 1 2 1 1513 1311 754 15 15 636 21
51 0 434 3 50

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Kootenai Site Built > 2 Acres
July 1st, 2019 through September 30th, 2019

25

23

21 21

20

18
17

16 16
15 15

15 14 14
13

10 11 10 99
10 9

3 8 77
2 5
6
2
55 5 5
33 44
54 4 4
3 333
2 3 2 3
2 2
11
1 1 11
0

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Residential Waterfront

July 1st ,2019 through September 30th , 2019

25

21 21
20

15
15

11 12
8
10 99 9
8 55 2
8
66 77 6
5
5 55 6
5
55

44 4 4
3 2
3 3 3 33 333
22 2 3
2 2
11 1
2
1

0

*Data provided by Cda MLS Active Listings Sold During Time Period Months of Inventory

TALKING POINTS

YEAR OVER YEAR CHANGES 2018 VS. 2019 YTD
KOOTENAI COUNTY

• Residential • Multi Family

• # Of units Sold is down 4% • # Of Sold units are down 37%
• # of New Listings is down 32% • # of New Listings is down 36%
• Median Sales price is up 10% • Median Sales price is up 16%

• Vacant Land

• # Of Sold units is down 4%
• # of New Listings is down 9%
• Median Sales price is up 5%

Months of Inventory Analysis
Post Falls Site Built < 2 Acres
July 1st, 2019 through September 30th, 2019

160

144
140

120

100

80 74 78

60
4950

46

40
33

27
22

20

12 12
9

131 2 0 1 2 3 2 4 122 4 4 10
1 00

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
July 1st, 2019 through September 30th, 2019

35

30
30

25

20
18

15

12
11

10 8
8

66 5

5 44
3
33
00
0 22

1 11 1 11 1 1
0
0 00 0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Hayden Site Built < 2 Acres
July 1st, 2019 through September 30th , 2019

35

32

30
30

25
25

22

20

15 14 15
14

11 11

10 8 9
8 6

77

66 66

5 4 44 5

00 33 33
0 2
1 22 2 22

1 11 00 00 00

*Data provided by Cda MLS Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
CDA Site Built < 2 Acres

July 1st , 2019 through September 30th , 2019

120

100 97

80
80

72

60

44 45
40

23 22 24 26 21 21
21

20 16

11 12 13
10
78
5 7
32
21 2 3 4 232 4 3 2 3
11 11 0 1
1 1 1 1 1 00 010 000 10

0

*Data provided by Cda MLS Active Listings Sold During Time Period Months of Inventory