November2022

November 2022

Coeur d’Alene Realty

Jennifer Smock
Co-Owner/Managing Broker

Quick Facts…

Kootenai County population is approximately 180,0000

(census data 2021)

In the last 10 years our population per square mile has
grown from 111 to 138.

Kootenai County has about 78,000 single family housing units.

Median housing income $60,903
($4k short of the US Average)

The US Median sales price is $428,700
Kootenai County is $560,000

Nearly 20% of our population is over https://usafacts.org/data
the age of 65 (national is 16%)



17 States lost population over the past year

128 2805 234
570 222

Drivers License Surrenders
In 2021 – Kootenai 8842

2934

Ada County had
19,168 Surrenders

287



Demographic trends support elevated

purchase demand in the years to come,
So it’s a question of when, not if, for

the housing market.

“Inflation refuses to budge.
In September, consumer
prices rose by 8.2%. Rents
rose by 7.2%, the highest
pace in 40 years.”

72% of landlords said they plan to

raise the rent on one or more of their
properties in the next year.

The best hedge against inflation is a
fixed housing cost.



January 1, 2022 – Nov 1, 2022

Coeur d’Alene Post Falls

Available Listings 271 Available Listings 214
Average Days on Market
Median Sales Price 68 Average Days on Market 65
Average Sales Price
$585,000 Median Sales Price $520,000
Hayden
$753,000 Average Sales Price $565,000
Available Listings
Average Days on Market Kootenai County
Median Sales Price
Average Sales Price 129 Available Listings 908

67 Average Days on Market 71

$610,000 Median Sales Price $559,000

$762,000 Average Sales Price $697,000

Median Sales Price Single Fam Under 2 Ac Kootenai County
Resale 2022

561,500 585,000
548,900

515,000 509,000
499,999 499,500

Median Sales Price Single Fam Over 2 Ac Kootenai County
Resale 2022

1,074,500 950,000 967,500
921,250 873,687 887,500

98 99 99 99

94 93 91 91 91

1-Feb 1-Mar 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct

Original List Price /Sales Price %
Kootenai County Single Family

Months of Inventory 3.5 3.2

Single Family
Kootenai County

4.6

3.8
3.4

2.3
1.6

1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct

New Construction
Single Family Homes

Avg. Sales Price 593 Average Sales Price
$693,000 $713,000
New Construction
Units

2352
Re-Sale
Units

20% of the Market

Premier Properties
All MLS
All Types

• 286 listings between $1-2 M
– 403 sold

• 100 between $2-4 Million
– 58 Sold

• 43 over 4 Million listed
– 26 sold

• 16 homes over $5 million
have sold this year

Compound Annual Growth Rate

Kootenai County all Residential
Median Sales Value
12%
25%

$560,000

14%
10%
12%
10%
167K 7% 7% 7% 7%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 YTD

Homeowner Equity Gains

Year-Over-Year, Q2 2022

Source: CoreLogic

New Inventory by Month
Single Family less than 2 Acres

Kootenai County

492

312

194 165

Jan Feb March Apil May June July Aug Sept Single Family
Oct

Change in Inventory

Month-Over-Month, September 2022

Source: realtor.com

What does all this mean for our Hometown?

• We can expect pricing to come down some, not drastically however

• It’s a basic Supply and Demand scenario

• As Interest rates rise we will see buyers waiting in the market a bit longer

• Homes will continue to be on the market longer as well

• We will rebound fine, with opportunities for both buyers and sellers now

• Possibly a few short sales , but not likely to be nearly anything
like in the Great Recession