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Published by mike, 2020-07-14 13:57:11

july_2020 (1)

july_2020 (1)

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


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