September 2017

Market Update September 2017

Residential Snap Shot

January 1 , 2017 – August 31, 2017

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 519 Active Listings 473 Active Listings 311
Homes Sold/Closed YTD 955 Homes Sold/Closed YTD 818 Homes Sold/Closed YTD 455
Avg Days on Market Avg Days on Market 92 Avg Days on Market 87
Median Sales Price 80 Median Sales Price $229,000 Median Sales Price $287,000
Avg Sales Price $255,000 Avg Sales Price $260,000 Avg Sales Price $338,000
SP/OLP $290,000 SP/OLP 98% SP/OLP 97%

97%

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

Active Listings 185 Active Listings 37 Active Listings 73
Homes Sold/Closed YTD 302 Homes Sold/Closed YTD 31 Homes Sold/Closed YTD 152
Avg Days on Market 113 Avg Days on Market 94 Avg Days on Market 133
Median Sales Price $222,000 Median Sales Price $297,000 Median Sales Price $251,000
Avg Sales Price $255,000 Avg Sales Price $318,000 Avg Sales Price $261,000
SP/OLP 99% SP/OLP 96% SP/OLP 99%

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

Active Listings 66 Active Listings 195 Active Listings 2067
Homes Sold/Closed YTD 40 Homes Sold/Closed YTD 180 Homes Sold/Closed YTD 2893
Avg Days on Market 132 Avg Days on Market 130 Avg Days on Market
Median Sales Price $233,000 Median Sales Price $90,000 Median Sales Price 94
Avg Sales Price $302,000 Avg Sales Price $116,000 Avg Sales Price $251,000
SP/OLP 96% SP/OLP 91% SP/OLP $298,000

97%

*Data provided by Cda MLS

Residential Sales Comparison
Year over Year

612 580 592577 571
543 502
535 522
509

452 405 416
424
395

350 354

287
266

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

2013 Sold 2014 Sold 2015 Sold 2016 Sold 2017 Sold

*Data provided by Cda MLS

MoMnothnsthosfoInf vInevnetonrtyorAynAanlyaslyissis
CoCeouerudr'Adl'eAnleenReeRseidseidnetinatlial

May 1,t2h0ro1u7gthrAouguhsAt u3g1usst,t23011,72017

112200

110000 96
92

8800

6600 5533 5500 4422 4488 3311 3322 2211 2233 1144 66 77 1111
2277 22 11 4400 33 33 66 77 33 55 77
4400
22 33
2200
44 33 44

00

*Data provided by Cda MLS Active Listings Sold During Time Period MMoonntthhss ooff IInnvveennttoorryy

MoMnothnsthosfoInf vInevnetonrtoyrAynAanlyaslyissis
PoPsotsFt aFlalsllsReRseisdiednetniatilal

May 1,t2h0ro1u7gthrAouguhsAtu3g1usst,t23011,72017

140

120 120
120

100

8800 76 76
71 71
64 64

6600 59 59

41 41
4400 34 34

2200 1314 12 13 14 16
42 3 654
10 10 78 8 7 8 8 12
2 03 3 103 1 0 33 20 000 4
2 22 3 2 3 3654 5 44 3 5 2 000 010 3
0 2 0 010 000
103
00

AAccttiivvee LLiissttiinnggss SSoolldd DDuurriinngg TTiimmee PPeerriioodd MMoonntthhss ooff IInnvveennttoorryy

*Data provided by Cda MLS

50 Months of Inventory Analysis
45 Rathdrum/Twin Lakes Residential
40 May 1, 2017 through August 31, 2017
35
30 44
25
20 17 14 15
15 15
10
6 7
5
1 5 5 55 5
1 4 1
00
0 3

11 000

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





Kootenai Co Residential Snap Shot
YTD Year over Year 2016/2017 % Change

Coeur d’Alene Post Falls

Active Listings -12% Active Listings -8%

Homes Sold 0% Homes Sold -2%

Median Sales Price +12% Median Sales Price +12%
$255,000 -16% $230,000

Hayden Kootenai County

Active Listings Active Listings -15%

Homes Sold +10% Homes Sold +3%

Median Sales Price +8% Median Sales Price +11%
$287,000 $250,000

*Information provided by Cd’A MLS Date Ranges are from 1/1-9/18 of each year

2017 New Constructions vs. Re-sale

Residential Single Family

450 Avg. Sales Price
$296,000
New
Construction 5% increase

Units YTD Avg. Sales Price
$262,000
600 New Permits
Issued 3138
Re-Sale
Units

New Construction was 26% of Single Family Sales in 2017 YTD
Single Family homes all MLS

*Data provided by Coeur d’Alene MLS

Number of Homes Sold by Season

Single Family Residential Kootenai Co

935
850 808

564

Jan-March April-June July-Sept October-Dec (2016)

$265,000 $283,000 $279,000 $263,000

Average Sales Price per Quarter
*Data provide by Cda MLS, Year 2016-20175

Number of Homes Sold by Season
Vs Amount of Inventory

Single Family Residential Kootenai Co

963 958
935 850

766 808
564 783

Jan-March April-June July-Sept

October-Dec

*Data provide by Cda MLS, Year 2017



5 Reasons to Sell This Fall

1. Demand Is Strong

The latest Buyer Traffic Report from the National
Association of Realtors (NAR) shows that buyer
demand remains very strong throughout the vast
majority of the country. These buyers are ready,
willing, and able to purchase… and are in the market
right now! More often than not, multiple buyers are
competing with each other to buy a home.

Take advantage of the buyer activity currently in the
market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal housing market.

This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory
could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six, but that number has jumped to an average of
almost nine years since 2008. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few
years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the
freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all
they can to stand out from the crowd, including getting pre-
approved for their mortgage financing. This makes the entire
selling process much faster and much simpler as buyers know
exactly what they can afford before home shopping. According
to Ellie Mae’s latest Origination Insights Report, the time to
close a loan has dropped to 43 days, after seeing a 12-month
high of 48 days in January.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move-up! The inventory of homes for sale at these
higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or
trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!
Prices are projected to appreciate by 5.0% over the next year according to CoreLogic. If you are moving to a higher-priced
home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important
than being with family? Is money more important than your health? Is money more important than having the freedom to go
on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take control of the situation by putting your home
on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.



4 Reasons to Buy a Home This Fall!

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price
Index reports that home prices have
appreciated by 6.7% over the last 12
months. The same report predicts
that prices will continue to increase at
a rate of 5.0% over the next year.
The bottom in home prices has come
and gone. Home values will continue
to appreciate for years. Waiting no
longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage
have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The
Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors
are in unison, projecting that rates will increase by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing
expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home
because they are uncomfortable taking on the obligation of a
mortgage. Everyone should realize that, unless you are living with
your parents rent-free, you are paying a mortgage – either yours
or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’
that allows you to have equity in your home that you can tap into
later in life. As a renter, you guarantee your landlord is the person
with that equity.
Are you ready to put your housing cost to work for you?

4. It's Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the
home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting.
Whether you want to have a great place for your children to grow up, you
want your family to be safer or you just want to have control over renovations,
maybe now is the time to buy.

Talking Points…

• We are coming up on some of the markets best time to Sell. Buyers are still actively
looking for homes, and the inventory historically drops this time of year.

• With new construction sales making up about a quarter of our market,
a lot of sellers are capitalizing on the buyers desire to have a home “now”
instead of In 6 months

• We are seeing a bit of a slow down in the market above $450,000.
MOI is starting to increase, which could indicate buyers are starting to resist the
consistent price increases we have experienced over the past year.

Months of Inventory Analysis
Kootenai County Residential < 2 acres
May 1, 2017 through August 31, 2017

350

312
300

250
224

200
183

161

150
131 127
117

100

70

57 60 51

50 43
36

19 2016 28 27
464
1012 1 2 2 3 4 14 11 14 8 85 15 11 325 9 206 12 12
3 6 41 5 4 1 41 41

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai County Residential > 2 acres
May 1, 2017 through August 31, 2017

35

31

30
30

26
25

21 21
18
20 15 18
18 15

17

15 15 14
15 13 7

11 11 10
10 10
10 99 9 99
6 8
8 7

5 6 6
5
5
54 4

3 323 3 33
1 2 22 2

1 1 11
00
00

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai County Vacant Land
May 1, 2017 through August 31, 2017

180
171

160

144
140

120

100

80 77

63 54
60

47

40
32 31

24 27 24 24 24 24

18 1417 18 18 21 21 21 21
86 432
20 79 7 12 7
0 31 1 1
3 9 11 11 7 8 6 4 6
6 3 0 1 20 0 20

2

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai County Residential - Condo
May 1, 2017 through August 31, 2017

12

10 10
10

9 999 99

888 8
8

6 6 6
6

55

4

3 33 33 3 33 3 3 3
3 2 2 2 1
22 2
11 1
2

1 11 11

0 0 000 0 0 00 0 0 0 0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai County Residential with Secondary Waterfront

May 1, 2017 through August 31, 2017

25

21
20

15

10 11 9
9

8 77
7
6 66 6
6
44
5
5

3 33 3

22 22 22 2

11 11 1 1 1
0 0 000 0 0 000 000 000 0 000 0
0 0
0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai County Residential with Waterfront

May 1, 2017 through August 31, 2017

30

27 27

25

20

17 17

15 15 15 15
15 12

13 12
12 12

10 99 9
8
88
8
7
7 6
66
2
55 5 5 1 5
5 3
5 4 4 1
3 0
33 3 333
2 0
2 2

1 11

00 00 0
0

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

Months of Inventory Analysis
Hayden Residential

May 1, 2017 through August 31, 2017

50

45 44
43

40

35

30 27

26
25 24

20 16 9
14 1
15
15 13 11

11 88
10 7

5 66 6 6 77
4 5 3
4 3
3 2

1 2 1 1
00
1

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS