Nov

Market Update
November 2020







MBA Forecast for 2021: Prepare for Rising Mortgage Rates

“At its Annual event… Mortgage Bankers Association Chief Economist Mike Fratantoni
forecast that mortgage rates could rise in the year to come, but that they will remain
near all-time lows.”

3.9%

3.7% 3.6%

3.3%

3.0%

2019 2020 2021 2022 2023

Housing Wire

Households Used Most of Their Stimulus Checks to

Pay Down Debt and Save

35% 29%

Paid Down Debt Spent the Money

36%

Saved the Money

New York Fed

Change in Consumer Spending Since 1/1/20

Average Days on the Market

NAR

Top Three Reasons 31%
Homeowners Are
NOT Putting Their financial uncertainty
House on the Market

Zillow Report

34% 25%

life is too uncertain COVID-19
right now health concerns

“Data from the Survey of Business Uncertainty
(SBU) suggest that the road forward is going to
be a tough slog. Businesses hold tepid
expectations for year-ahead employment and
sales growth. Expectations are, in fact, so tepid
that, based on the latest average projection, it
will take firms more than four-and-a-half years
to recover their pre-Covid employment levels.”

Federal Reserve Bank

Average Sold Prices- Kootenai County

*Data supplied by CdA MLS as of 11/16/2020

60%

36%
32%

21% 15%
14% 16%

Single Family Vacant Land Multi-1F%amily
Month over Month Current Vs Same MTD 1 year ago
-11%

Current Vs Previous YTD

Median vs Average Sold Prices
Kootenai County

$654,000
$570,000

$409,000 $523,000
$350,000 $355,000

Single Family Single Family on Acreage Multi Family

Median Sold Price Average
*Data supplied by CdA MLS as of 11/16/2020

Median vs Average Sold Prices
Kootenai County

*Data supplied by CdA MLS as of 11/16/2020

$1,137,000

$864,000

$453,000

$298,000 $250,000

$160,000

Condo Res Waterfront Vacant Land
Median Sold Price Average

Residential Snap Shot

January 1st, 2020- October 31st, 2020

Residential Snap Shot
Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings November 1st, 2018 – January 31, 2019 778
Homes Sold/Closed YTD 1,551 Active Listings 1,517 Active Listings 598
Avg Days on Market 87
Median Sales Price 1,260 Homes Sold/Closed YTD 1,239 Homes Sold/Closed YTD $398,000
Avg Sales Price $489,000
SP/OLP 80 Avg Days on Market 95 Avg Days on Market 98%

$374,000 Median Sales Price $335,000 Median Sales Price

$432,000 Avg Sales Price $391,000 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 721 Active Listings 60 Active Listings 309
Homes Sold/Closed YTD 527 Homes Sold/Closed YTD 40 Homes Sold/Closed YTD 204
Avg Days on Market 110 Avg Days on Market 76 Avg Days on Market
Median Sales Price $325,000 Median Sales Price $509,000 Median Sales Price 91
Avg Sales Price $370,000 Avg Sales Price $497,000 Avg Sales Price $341,000
SP/OLP 99% SP/OLP 98% SP/OLP $376,000

99%

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

Active Listings 146 Active Listings 428 Active Listings 5,547
Homes Sold/Closed YTD 100 Homes Sold/Closed YTD 282 Homes Sold/Closed YTD 4,244
Avg Days on Market 102 Avg Days on Market Avg Days on Market
Median Sales Price $446,000 Median Sales Price 95 Median Sales Price 93
Avg Sales Price $493,000 Avg Sales Price $164,000 Avg Sales Price $360,000
SP/OLP 96% SP/OLP $186,000 SP/OLP $452,000

94% 98%

*Data provided by Cda MLS

“The likelihood of us
having a foreclosure
crisis again is about
zero percent.”

Ivy Zelman

Founder of Zelman & Associates

Talking Points…….

❑Average Sales Price in Kootenai County for resale properties
is up 25% from this time last year
❑New Construction is up 11%

❑$1,000,000+ homes are selling for 98% list to sales price
❑Compared to 3 years ago @ 94%, 5 Years ago was 90%
❑DOM is currently 74, peak selling season
3 years ago it was more than double this



Months of Inventory Analysis
CDA Site Built < 2 Acres

August 1st, 2020 through October 31st, 2020

90

80 77
70

60 57
55 47 47
38
50

40

30
23

20

12

10 7 5 10 5 6 3 10 9 3 232 6 4 32 3 3 5 11
00 0 6 0 0 0 1 3 0 1 0 1
3
01 1 2

0

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

Months of Inventory Analysis
Residential Waterfront

August 1st, 2020 through October 31st, 2020

25

21 21
20

15

10

88

77

6 6 6 66

55 5 55
5
4 44 4
4

33 3 333 3 33

2 2 22
1 1
11 1 1 1 1 1 11
0 0 0 1 00 1
00 00 00

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai Site Built < 2 Acres
August 1st, 2020 through October 31st, 2020

300

261
250

214 203
200

150
130

98
100

85

52

50

32 11 28 23 17 21 7 40 27 21 14 19 8 11 65 7 6 22
20 0 0 0 0 1 0 7 51 7 51 10 62 2 1

1 2

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Kootenai Site Built > 2 Acres
August 1st, 2020 through October 31tst 2020

30

25 24

20
20

18

15
15 14

12

10
10 9

8

66 66

55 5 5 55
3 1
2 4 4 4 44 4
2
0 3 3 33
2 1
2 2 2 2 2
11 2
1 11 1
1 1
1

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Post Falls Site Built < 2 Acres
August 1st, 2020 through October 31st, 2020

140

120 117

100 79
80 77

60

40
31
25

20 15 16 15

10 8 9 10 86

10 20 0 0 1 1 2 0 1 0 2 0 12 21
0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
August 1st, through October 31st, 2020

45

40
40

35
32

30

25 24

20

15 1 3 1 12 7 2 4 4 2
0 0 0 00 10 00 11 0 0
10
8

5
00

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Hayden Site Built < 2 Acres
August 1st, 2020 through October 31st, 2020

40

35 34
33

30 27

25
23

20

15 15
15

10 9
8

55 5

5

33

22222 2 2 22
11
1 0 0 0 0 0 11 0 11
0
00

0

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

Residential Sales Comparison Year over Year
All MLS

782 801 818 809

722

C62h8art Title 691 585
590
420
6
617

5 439 448 586

461 462 509
396
4

319 310

3 311 324

2

1

0 Category 2 Category 3 Category 4
Category 1

Jan Feb March April May SerJiuense1 SeriJeusl2y SerieAsu3g Sept Oct Nov Dec

2015 Sold 2016 Sold 2017 Sold 2018 Sold 2019 Sold 2020 Sold

*Data provided by CDA MLS