Sales continue above 2010

As promised, the staff of the Coeur d'Alene Multiple Listing Service has completed the monthly task of compiling October sales figures and we can now present them to you. Each month staff takes care to ensure all sales for the month are recorded before completing the statistics for the current period. These are reported as Year to Date (YTD) for comparison. When you read the percentage comparisons below, they will always be, as compared to the same period in 2010.

Although the market is anything but brisk, we are seeing some improvement in the number of properties changing hands. As reported to the MLS, 2011 sales exceed 2010 by 4 percent on average across our entire service area.

Benewah and south Kootenai counties reported the highest increase in sales with 65 percent more in Benewah and an 86 percent increase in south Kootenai. Realtors in Benewah have sold a total of 33 residential properties this year compared to 20 last. Although we can't be certain what is driving the volume increase, it is likely affected by the 12 percent decline in average price and the dearth of available rentals in that market.

The increase in south Kootenai County could be an indication of the return of second home buyers. Fourteen homes sold in that region in 2010 while 26 have been sold YTD with an increase in average price of 53 percent.

Our urban areas present mixed results with Coeur d'Alene sales off 9 percent and the average sales price off 5. Post Falls reported a 7 percent decline in sales. Sales there remain at 12 percent below last year, consistent with recent performance. Sales are up 10 percent in Hayden though their prices continue to perform poorer than last year with the average sale price there 10 percent off 2010.

Our agents in Bonner and Boundary counties, which are reported as one area, likely performed better than any other reporting geography with a 17 percent increase in numbers and an average price increase of 3 percent. This improvement could also be an indicator of the return of vacation or second home buyers with Sandpoint the largest market of that reporting area.

Silver Valley sales continue their increases for the year, outperforming 2010 by 35 percent although by selling residential properties discounted, on average, 17 percent from 2010.

Of those areas showing losses in average priced residences, the Rathdrum/Hauser/Twin Lakes geography posted the most modest price decline at 2 percent while increasing sales by 20 percent.

The statistics above reflect only single family homes on less than one acre. When we add the balance of residential homes to the mix we see the residential market as a whole reflects an actual 2 percent increase in dollar volume and an overall average price reduction of 3.5 percent.

The condo market continues to show some stability and is maintaining a lead over 2010 with a 14 percent increase in sales and a strong 10 percent increase in average price.

Sales of waterfront properties, as evidenced by the south Kootenai and Benewah figures, showed a sales increase of 28 percent and an average price increase of 8 percent. Secondary waterfront did not fair as well with sales declining by 30 percent and an average price reduction of 19 percent.

Your Realtor watches your market daily and will be happy to provide you with information to help you make decisions about the condition of your real estate, be it homes, land, apartments buildings, retail or office. Remember, we don't make the market, we just report it.

Trust an expert... call a Realtor. To find a Realtor to represent you visit the Coeur d'Alene Association of Realtors website at www.cdarealtors.com. There you can also search available properties in the Multiple Listing Service.

Kim Cooper is a real estate broker, Realtor and the spokesman for the Coeur d'Alene Association of Realtors. Kim and the association invite your commentary and feedback. You may contact them by calling 667-0664 or by writing to them at 409 W. Neider, Coeur d'Alene, ID 83814.