october

Market Update October 2020

Residential Snap Shot

January 1st, 2020- September 30th, 2020

Area Residential Snap Shot 03 Hayden
01 CdA Area 02 Post Falls Area
Active Listings 716
Homes Sold/Closed YTD November 1st, 2018 – January 31, 2019 519
Avg Days on Market 1,444 Active Listings 1,399 Active Listings 90
Median Sales Price $390,000
Avg Sales Price 1,079 Homes Sold/Closed YTD 1,073 Homes Sold/Closed YTD $479,000
SP/OLP 98%
80 Avg Days on Market 98 Avg Days on Market

$365,000 Median Sales Price $332,000 Median Sales Price

$417,000 Avg Sales Price $389,000 Avg Sales Price

99% SP/OLP 99% SP/OLP

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

Active Listings 652 Active Listings 54 Active Listings 295
Homes Sold/Closed YTD 463 Homes Sold/Closed YTD 30 Homes Sold/Closed YTD 175
Avg Days on Market 109 Avg Days on Market 78 Avg Days on Market
Median Sales Price $322,000 Median Sales Price $476,000 Median Sales Price 89
Avg Sales Price $368,000 Avg Sales Price $464,000 Avg Sales Price $345,000
SP/OLP 99% SP/OLP 97% SP/OLP $379,000

99%

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

Active Listings 138 Active Listings 394 Active Listings 5,132
Homes Sold/Closed YTD 87 Homes Sold/Closed YTD 235 Homes Sold/Closed YTD 3,651
Avg Days on Market Avg Days on Market Avg Days on Market
Median Sales Price 101 Median Sales Price 96 Median Sales Price 94
Avg Sales Price $434,000 Avg Sales Price $158,000 Avg Sales Price $358,000
SP/OLP $479,000 SP/OLP $182,000 SP/OLP $443,000

95% 94% 98%

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai Site Built < 2 Acres
July 1st, 2020 through September 30th, 2020

300

248
250

230

200
200

150 138

100 90

50 43 46 72 61
6
18 28 8 27 23 13 15
16 14 0 0 6 51 51 31
30 0 7 10
0 1000 1 10 41

Active Listings Sold During Time Period Months of Inventory

Kootenai Co
Equity Gain
$51k

Percentage of 42.1% 7.3%
Homeowner
Equity 2020 6.1%

15.4%

12.5%

16.6%

< 10% 11-20% 21-40%
41-60% 60-99% 100%

John Burns Consulting

The not so Shocking Truth…

• “Between May & July 2020, national prices
increased by over 2%, which represents
the largest two-month price
increase observed since the start of the index
in 1991.”

• In Kootenai County that same time
frame is a 12% median sales price
increase.

The top outbound states, defined by the highest percentages
of moves where COVID was a contributing factor in leaving
the state, were the following:

1.Washington, D.C.
2.New York
3.Nevada
4.Oregon
5.Delaware
6.California
7.Minnesota
8.Massachusetts
9.Florida
10.Washington

The top inbound states — those where COVID was
a contributing factor in choosing to migrate to the
state — were:

1.Vermont
2.North Dakota
3.Connecticut
4.Montana
5.Michigan
6.Arkansas
7.Oregon
8.Massachusetts
9.Ohio
10.Utah

The growth rate in median 1-bed prices
averaged -12.7%

Leaving Large Cities…..

Moving interest in September 2020 is notably higher than the
previous year (32% increase)

At the end of August 2020, outbound move requests from New
York were 52% higher than the national average

In San Francisco, outbound move requests have steadily
increased to 128% by the beginning of September.

* Data provided by United Van Lines

Change in Consumer Spending Since 1/1/20

Opportunity Insights

BLS Unemployment Rate

…as reported 14.7%
13.3%

11.1%
10.2%

8.4% 7.9%

4.4%
3.6%% 3.5%

January February March April May June July August September

BLS

Kootenai County Single Family Quick Facts

Average Sold Price (in thousand) in September 2020:
• Up 6.9% compared to last month
• Up 41.4% compared to last year

Homes For Sale in September 2020: 841 units.
• Down 17.3% compared to last month
• Down 52% compared to last year

Months of Inventory Analysis
CDA Site Built < 2 Acres

July 1st, 2020 through September 30th, 2020

90

80 77

70 59
63 57

60

50
44

40

30 28 27

20
16

10 11 12

10 8 8

0 1 6 5 3 21 10 3 6
0 4 33444 21 11 1 1
0 0 0 0 0 1 11

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Residential Waterfront

July 1st, 2020 through September 30th, 2020

25

21 21
20

15

10
10

7 7 77

66 6 6

55 55

54 44

33 3 3 333 3 3
1
2 2 22 22 22 2 2 2 2 2
00 2 1 11
1 1 1 1 1
1 1 1

00 00 00

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai Site Built > 2 Acres
July 1st, 2020 through September 30th, 2020

30

25 24

20
20

17

16
15

12 12 12
10 11
10

7

666 66

5

54 4 44

33 3 33
222 2
22 2 2

1 1 1 1 1 01 11 1
0
00 00 0

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Post Falls Site Built < 2 Acres
July 1st, 2020 through September 30th, 2020

120

100
100

87 80
80

60

40 35

24

20 19 18
14
14 13

5 8 9
6 5

20 0 1 1 1 1 00 20 1 0 2 10
0

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
July 1st, through September 30th, 2020

40

36
35

30
30

25

20 19

15
13

10

8

7

6

5

5

3

2

00 1 1 0 00 10 00 00 0 11
0 0 00

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Hayden Site Built < 2 Acres
July 1st, 2020 through September 30th, 2020

40
38

35

30 29

25 25
22 22

20

16
15

11

10
8

7
66

5

333

22 2 22 2

0 0 0 0 00 0 1 11 11 1
0
0 0 0 0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS