August_2022

MARKET UPDATE
AUGUST 2022

“HOW’S THE MARKET”

What do YOU say?

“OPPORTUNITIES FOR BUYERS”

• More negotiating power than in previous years
• More time to decide
• Seller concessions
• Sellers contributing to rate buy downs
• No more multiple offers paying over full price
• No more being asked to waive the Appraisal contingency

“BUYERS OBJECTIONS TO OVERCOME”

• “I cannot afford my payment now”

“The median rent across the 50 largest US metropolitan areas reached
$1,876 in June, a new record level for Realtor.com data for the 16th
consecutive month.”

• “I can’t afford as nice of a home as before”

• “I am waiting for the market to crash”

• If so, when will this happen?





“OPPORTUNITIES FOR SELLERS”

• Available options when you sell, replacement property
• Values are still at historically high levels, and your value has

increased by more than 20% in the past year in most areas
• The market is not crashing and real buyers are serious

“OBJECTIONS TO OVERCOME WITH SELLERS”

• “I have lost so much equity already”
• “I'm not going to give it away”



“OPPORTUNITIES FOR INVESTORS”

• More inventory on the market to choose from
• Low vacancy rates
• Lawrence Yun says Renter Households will rise because they

cant afford to purchase

HOW WILL YOU ANSWER THE QUESTION NOW?

Residential Snap Shot
January 1st, 2022- July 31st , 2022

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 1,086 Active Listings 952 Active Listings 560
Homes Sold/Closed YTD 633 Homes Sold/Closed YTD 621 Homes Sold/Closed YTD 322
Avg Days on Market 63 Avg Days on Market Avg Days on Market
Median Sales Price 63 Median Sales Price 62
Median Sales Price $590,000 Avg Sales Price $523,000 Avg Sales Price $623,000
SP/OLP $567,000 SP/OLP $742,000
Avg Sales Price $687,000
97% 97%
SP/OLP 98%

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

Active Listings 460 Active Listings 60 Active Listings 196
Homes Sold/Closed YTD 33 Homes Sold/Closed YTD 98
Homes Sold/Closed YTD 251 Avg Days on Market 149 Avg Days on Market 74
Avg Days on Market 79 Median Sales Price $850,000 Median Sales Price
Median Sales Price Avg Sales Price $779,000 Avg Sales Price $545,000
$523,000 SP/OLP 101% SP/OLP $601,000
Avg Sales Price
$608,000 98%
SP/OLP
98%

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

Active Listings 126 Active Listings 260 Active Listings 3,728
Homes Sold/Closed YTD 44 Homes Sold/Closed YTD 138 Homes Sold/Closed YTD 2,104
Avg Days on Market 64 Avg Days on Market Avg Days on Market
Median Sales Price Median Sales Price 65 Median Sales Price 67
Avg Sales Price $692,000 Avg Sales Price $295,000 Avg Sales Price $565,000
SP/OLP $808,000 SP/OLP $293,000 SP/OLP $703,000

95% 97% 97%

*Data provided by Cda MLS

Residential Sales Comparison Year over Year
All MLS

617 691 590
597 585
600
461 546 586 508

431 435 479 445

366341 332204 396

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

2017 Sold 2018 Sold 2019 Sold 2020 Sold 2021 Sold 2022 Sold

*Data provided by CDA MLS

Single Family, Kootenai County
$400-500,000

M.O.I. as of 8/7 is 2.5 YTD

Single Family, Kootenai County
$500-650,000

M.O.I. as of 8/7 is 3.9

Single Family, Kootenai County
$650-800,000

M.O.I. as of 8/7 is 4.3

Single Family, Kootenai County
$800-1,000,000

M.O.I. as of 8/7 is 5.2 YTD

Single Family, Kootenai County
$1,000,000-2,000,000

M.O.I. as of 8/7 is 6.5 YTD

Single Family, Kootenai County
$2,000,000-4,000,000

M.O.I. as of 8/7 is 17.5 YTD

All Residential
Kootenai County
No price limits

M.O.I. as of 8/7 is 3.5 YTD

Single Family
Kootenai County

Single Family
Kootenai County

Vacant Land
Kootenai County

WHAT LAWRENCE YUN SAYS….

TALKING POINTS

• There is opportunity in every market, for both buyers and sellers
• Months of Inventory is increasing slowly

• Inventory has increased 106% from this time last year
• 9% month over month
• Days on Market for the homes selling are still averaging around 70
• The Premier market is softening some,Average sold price is down 14% from this
time last year, OLP/SP is approximately 92%