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More statistics for the numerically minded

by Kim Cooper
| September 19, 2010 9:00 PM

A reader correctly bemoaned the fact that many of our outlying areas were not included in last week's report. When asked, "Why?," we had to pause. One reason is that the smaller numbers in the less populated areas, as they stand alone, represent seemingly huge statistical trends. Another reason is that there is a limit to the amount of space available to us in this paper, so not every statistic can be covered at once. Out of fairness and in the spirit of openness however, here is the rest of the story as of the end of August.

Rathdrum/Twin Lakes reported a total of 79 sales, year to date (YTD) which reflects a decline from YTD 2009 of 5 percent. The average price there is 15 percent below the previous year.

North Kootenai County reported a 17 percent increase with 27 sales compared to 23 for the same time period in 2009 or an increase of 17 percent. The average price increase in that area was 5 percent.

South Kootenai County showed an increase of two sales, from seven in 2009 to nine YTD 2010. This is an increase then of 28 percent. The average price of those sales was less than half the 2009 price, which is the distortion factor at its best. One or two sales of high-priced waterfront or low-priced residential can distort the whole region when factored in to the average.

In the Silver Valley we saw sales increase from 45 YTD 2009 to 62 YTD this year. This reflects a 38 percent increase in single family home sales. The average Silver Valley home price dropped by 6 percent, to $98,338 from $105,144 YTD 2009.

Bonner and Boundary counties are up 33 percent with 81 sales so far this year compared to 61 last year at this time. Their average price is 16 percent lower this year than last.

Our neighbors to the south which includes Benewah County have seen a YTD drop of 12 percent as they have sold two fewer homes this year than last. Their average price is off 8 percent.

We also report sales of some Washington counties. Their reported sales dropped from 25 to 21, or 16 percent, with an average price that is up 9 percent to $233,866.

For the entire Multiple Listing Service (MLS) area, with regard to single family homes on less than an acre only, we see an average price decline of 6 percent with an increase in number of units of 13 percent or 1,330 sales compared to 1,179 last year. Kootenai County's average price is down 5 percent and sales increased by 12 percent.

New construction residential sales for the MLS members reporting, continue to lag behind last year. In 2009 YTD 26 percent of our single family homes on less than an acre were newly built, while this year that percentage stands at 17.

To find the statistical trend in your neighborhood seek out a Realtor member who will provide you with up to the date information. That's the best way to get a true picture.

For a safe trip home, call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.

Kim Cooper is a real estate broker and the spokesman for the Coeur d'Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d'Alene Association of Realtors, 409 W. Neider, Coeur d'Alene, ID 83815 or by calling (208) 667-0664 with your questions or commentary.