Market Update
July 2020
Quick Facts/Trivia….
• Kootenai County estimated population is…
166,000
• How many miles of lake front surround Lake CdA?
135
• Kootenai County typical Unemployment rate hovers
around …..% pre pandemic?
4% Today it is 9%
• 71% homeownership rate (National is 64%)
• Median household income in Kootenai County is…
• $54,000*(rounded up) (National is $60k)
• Pre-Pandemic our working class age population was
expected to grow by 18% in the next 10 years
• Pre-Pandemic the retired age demographics were
estimated to grow by close to 30% in the same time
frame
IDAHO’S NET MIGRATION SOURCES
LEADING SOURCES OF NET MIGRATION, IN AND OUT, FOR 2017
Total Net In 1,197 15,746 26,246
California 1,149 20,000 30,000
1,147
North Carolina 1,042
Texas
-1,005
Wyoming -1,061
North Dakota -1,082
-1,381
… -2,468
Iowa
Nevada -11,234
Washington
Georgia
Arizona
Total Net Out
-20,000 -10,000 0 10,000
Source: American Community Survey
RESIDENTIAL SNAP SHOT YTD
Coeur d’Alene Post Falls
Active Listings 812 Active Listings 794
Homes Sold/Closed YTD 437 Homes Sold/Closed YTD 465
Avg Days on Market 85 Avg Days on Market 106
Median Sales Price $349,000 Median Sales Price $315,000
Avg Sales Price $370,000 Avg Sales Price $341,000
SP/OLP 98% SP/OLP 99%
*Average sold values rounded up to nearest thousandth Kootenai County
Hayden
Active Listings 381 Active Listings 802
Homes Sold/Closed YTD 184 Homes Sold/Closed YTD 1470
Avg Days on Market 100 Avg Days on Market
Median Sales Price $351,000 Median Sales Price 101
Avg Sales Price $401,000 Avg Sales Price $331,000
SP/OLP 98% SP/OLP $381,000
98%
*Data provided by Coeur d’Alene MLS
2020 YTD NEW CONSTRUCTION VS. RE-SALE
RESIDENTIAL SINGLE FAMILY
525 $388,000
New $370,000
Construction
Units
YTD 618 Kootenai 1457
County Single Family Re-Sale
permits issued Units
$165 Mill
New Construction is 26% of Residential sales YTD 2020
Single Family homes all MLS (on Lots and Acres)
*Data provided by Coeur d’Alene MLS
KOOTENAI COUNTY
SINGLE FAMILY
PRICE /SQ. FT
This time last year it was
approximately $144 sq ft
SINGLE FAMILY-KOOTENAI COUNTY
PENDING SALES BY MONTH
591
499
455 455
388 392
20-Jan 20-Feb 20-Mar 20-Apr 20-May Jun-20
SINGLE FAMILY-KOOTENAI COUNTY AVERAGE
SALES PRICE BY MONTH
389
382
369 367 372
355
20-Jan 20-Feb 20-Mar 20-Apr 20-May Jun-20
Kootenai County Re-sale Site Built <2 Acres
715,000
403,000 531,000
372,000 488,000
276,000 334,000
248,000
225,000
3/2 1100-1400 4/3 2000-3000 3000-4000
2018 2019 2020
What the experts say…
• “Stay at home orders and social distancing
have put a new value on the extra space.
We’re seeing this in the luxury market as well,
which could mean there is renewed interest
from high-end buyers to find a second-home
that is within driving distance from their
primary residence.
• Views of luxury properties accelerated 56% in The
Hamptons, 28% in Palm Springs and 24% in
Greenwich compared to January trends.”
Danielle Hale, Chief Economist for realtor.com
Residential Snap Shot
January 1st, 2020- June 30th, 2020 Residential
Area 01 CdA Area Snap Shot 02 Post Falls Area 03 Hayden
Active Listings November 1st, 2018 – January 31, 2019 455
Homes Sold/Closed YTD 988 Active Listings 933 Active Listings 257
Avg Days on Market 98
Median Sales Price 576 Homes Sold/Closed YTD 607 Homes Sold/Closed YTD $355,000
Avg Sales Price $405,000
SP/OLP 82 Avg Days on Market 108 Avg Days on Market 98%
$347,000 Median Sales Price $320,000 Median Sales Price
$373,000 Avg Sales Price $361,000 Avg Sales Price
98% SP/OLP 98% SP/OLP
Area 04 Rathdrum/Twin Lakes Area 04a Hauser Lake Area 05 Athol/Spirit Lake NW Kootenai Co
Active Listings 475 Active Listings 30 Active Listings 225
Homes Sold/Closed YTD 261 Homes Sold/Closed YTD 12 Homes Sold/Closed YTD 83
Avg Days on Market 118 Avg Days on Market 78 Avg Days on Market 84
Median Sales Price $315,000 Median Sales Price $476,000 Median Sales Price
Avg Sales Price $351,000 Avg Sales Price $437,000 Avg Sales Price $330,000
SP/OLP 99% SP/OLP 97% SP/OLP $363,000
98%
Area Athol/Bayview 06 NE Kootenai Co Area 12 Silver Valley Area All Kootenai Co
Active Listings 113 Active Listings 279 Active Listings 3,539
Homes Sold/Closed YTD 54 Homes Sold/Closed YTD 135 Homes Sold/Closed YTD 1,957
Avg Days on Market Avg Days on Market Avg Days on Market
Median Sales Price 108 Median Sales Price 99 Median Sales Price 100
Avg Sales Price $355,000 Avg Sales Price $156,000 Avg Sales Price $335,000
SP/OLP $381,000 SP/OLP $175,000 SP/OLP $393,000
97% 94% 98%
*Data provided by Cda MLS
Residential Sales Comparison Year over Year
All MLS
722
691
628 585
590
617
420
439 448
586
461 462
509
396
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
What else they say……
• “Nearly 30% of respondents living in a
high-density urban area say that the
pandemic is prompting them to want to
move by the end of the year…This is more
than double the rate of those living in rural
parts of the country, where residents are
much more likely to stay put rather than to
relocate.”
Javier Vivas, Director of Economic Research for realtor.com
Months of Inventory Analysis
Hayden Site Built < 2 Acres
April 1st, 2020 through June 30th, 2020
40
38
35 26
31
30
25
20
15
15
12 12
10
8
7
6 66 6
54 45 4 5
3 4
222 33 3
2
2 1
00 0 0
0
Active Listings Sold During Time Period Months of Inventory
*Data provided by Cda MLS
Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
April 1st, through June 30th, 2020
45
40
40
37
35
30
25
20
15
13
10 3 4 9 5 333 333
8 0 0 2 4
2
5 2 00
10
0
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Post Falls Site Built < 2 Acres
April 1st, 2020 through June 30th, 2020
90
83
80
76
70
60
50
46
40 37 38
30
20 19 31
22
11
10 8 8 7
1 2 5 3 434 3 33
11
10 0 0 00 11
0
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Kootenai Site Built > 2 Acres
April 1st, 2020 through June 30th, 2020
18
17
16
16
14
14
13
12 12 12
12
10
9 9 99 9
8 8
8 7
6 6 66 6
6
5
44
4
2 33 3 33
22 22 22
11
1 1 11 2
00
00
0
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Kootenai Site Built < 2 Acres
April 1st, 2020 through June 30th, 2020
250
207
200
166
150
133
100
87
76 78
55 58 56
50
49
43 43
21 2016 11 16 12
4 75 4
56 2 2 2 3 6 864 9 9 10 73 31 42 52
11 1 3 00
0
0
Active Listings Sold During Time Period Months of Inventory
Months of Inventory Analysis
Residential Waterfront
April 1st, 2020 through June 30th , 2020
25
21 21
20
15
10 9 9
6 6 66 6
5 5 55 5 5 5 5
44
5 44 4 44
3 33 3 33 3 3 3
22 2 22 22 2 22
2
1 11 1 1 1 11 1
1
00 00 0
0
Active Listings Sold During Time Period Months of Inventory
*Data provided by Cda MLS
Months of Inventory Analysis
CDA Site Built < 2 Acres
April 1st, 2020 through June 30th, 2020
300
250 247
240
200
162
150
117
100
100 91 93
69
61 61
50 44 47
2930 27 32 34 26
20
2022 1214
53
4 99 69 88 6 12 10 52
6
3 3 1 1 1 2 2 2 11
0
Active Listings Sold During Time Period Months of Inventory
*Data provided by Cda MLS