JUNE 2022

Market Update June 2022

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

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 670 Active Listings 123 Active Listings 374
Homes Sold/Closed YTD 450 Homes Sold/Closed YTD 460 Homes Sold/Closed YTD 220
Avg Days on Market Avg Days on Market Avg Days on Market
Median Sales Price 66 Median Sales Price 65 Median Sales Price 61
Avg Sales Price Avg Sales Price $523,000 Avg Sales Price $620,000
SP/OLP $590,000 SP/OLP $574,000 SP/OLP $746,000

$685,000 98% 98%

99%

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

Active Listings 299 Active Listings 44 Active Listings 124
Homes Sold/Closed YTD 25 Homes Sold/Closed YTD 70
Homes Sold/Closed YTD 174 Avg Days on Market 140 Avg Days on Market 79
Avg Days on Market 78 Median Sales Price $835,000 Median Sales Price
Median Sales Price Avg Sales Price $769,000 Avg Sales Price $577,000
$518,000 SP/OLP 102% SP/OLP $606,000
Avg Sales Price
$605,000 98%
SP/OLP
99%

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

Active Listings 75 Active Listings 156 Active Listings 2,405
Homes Sold/Closed YTD 30 Homes Sold/Closed YTD 87 Homes Sold/Closed YTD 1,492
Avg Days on Market 69 Avg Days on Market 69 Avg Days on Market
Median Sales Price $737,000 Median Sales Price Median Sales Price 68
Avg Sales Price $833,000 Avg Sales Price $295,000 Avg Sales Price $565,000
SP/OLP 95% SP/OLP $295,000 SP/OLP $692,000

97% 98%

Jennifer Smock® Windermere Coeur d’Alene Realty
Co-Owner /Managing Broker

Residential Snap Shot 2021 vs 2022 YTD Single Family <2 ac

Coeur d’Alene Post Falls

Active Listings -5% Active Listings -9%

Homes Sold -13% Homes Sold -15 %

Median Sales Price +24% Median Sales Price +23%
$610,000* $555,000

Shoshone County Kootenai County

Active Listings -28% Active Listings -8%

Homes Sold -34% Homes Sold -18%

Median Sales Price +44% Median Sales Price +22%
$295,000* $551000* $643,000

Average Sales Price

Jennifer Smock® Windermere Coeur d’Alene Realty
Co-Owner /Managing Broker

% Increase in Average Sold Values 17%
Kootenai County all Residential 36%

16%

8%
13%
12%
3% 4% 9% 8% 9%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Homeowner Equity Growth Still Surging

Inventory Shortage

1400 The number of new listings on the 1221
1200 market mo8n0t0hly is similar to the same 850 780
amount we had in 2012, 10 years ago.
1000 930 370
478
800 365

600 667

400
200

0



1% .2%
$750-900K $900k+

8% Single Family<2 Acres
$500-750K Kootenai County
12%
$400-500K .5% 4.5%
$200-300K $300-400K
2019
46%
$200-300K

9% 25%
$900K+ $400-500K

10%
$750-900K

34%
$300-400K

2022 YTD

51%
$500-750K

Why not Build It instead of Buy it?

▪ The cost of land in Kootenai County has risen dramatically.

▪ Five years ago, five-to-ten-acre parcels were priced at about $5,000 to $6,000
per acre.

▪ Current pricing now ranges between $40,000 to $60,0000 per acre depending
on location and the availability of utilities

▪ A ¼ Acre vacant lot in Woodbridge recently sold for $165,000
▪ Downtown Cd’A .13 acre lot sold recently for $350,000
▪ Regulatory costs associated with New Construction

account for nearly ¼ of the sales price

2022 New Construction vs. Re-sale
Single Family All MLS (Lots & Ac.)

Avg. Sales Price

$664,000 Avg. Sales Price
$663,000
+38% 334 +17%

New Construction 1191
Units Re-Sale
Units

New Construction was 28% of Single Family Sales YTD 2022
9% higher than this time last year.
Single Family homes all MLS (on Lots and Acres)

Building Permits
Kootenai County

1305

$390 Mill

500 $158 Mill

47 439

2021 249

Single Family Remodel 16

2022 YTD

Apartments

2021/2022 YoY 1,899,000
1,776,000
Average Sales Price Re-Sale

All MLS

601,000 923,000 +7%
514,000 775,000

+17% +19%

Res <2 Ac Res >2 Ac Res H2O

2021/2022 YoY 843,000
Average Sales Price Re-Sale 523,000

All MLS

557,000
527,000

329,000 5% 61%
195,000 +168%

Vacant Land Condo Multi-Family

Talking Points…

❑ Month over Month Changes (April vs May 2022)

❑ All Residential Property Average closed value is down 4%
❑ Single Family down 4%
❑ Multi Family is up 113%
❑ Mobile/Manufactured is down 10%

❑ Days on Market as of 6/7/2022
❑ Cda/Dalton 48, DTC 37
❑ Post Falls 60, DTC 48
❑ Rathdrum 81, DTC 73
❑ Average MLS 59, DTC 46

With our local real estate market changing in 2022, you may
have questions on how this will effect you.

Inflation will force construction costs higher which will put
upward pressure on new and existing home prices. Low
inventory of homes for sale will also continue to put upward

pressure on home prices.

Look for inventory of homes for sale to slowly rise as interest
rates slowly go up. Local home appreciate will moderate as

the interest rates and inventory rise.

Mike McNamara, Realtor

ABR, CRS, GRI, CNE, e-PRO

Windermere Coeur d’Alene Realty

Cell 208-660-6320
[email protected]

www.HomesCDA.com