Encouraging numbers increase confidence

Although last week we noticed several reports that the housing market was softening - due to higher interest rates - that does not seem to be the case in the Coeur d'Alene Multiple Listing Service (MLS).

Our preliminary August numbers show we continue to outpace 2012, both in our number of sales and in our average price sold. This is good news for sellers and for agents who have seen some lean years.

The Coeur d'Alene Dalton market continues to demonstrate the strong interest in homes with a 36 percent increase of units sold over the same time period in 2012. The average price there is 9 percent higher than a year ago. Surprisingly enough, since interest rates rose above 4 percent in June, our average price is stronger now. June's increase over 2012 was just 6 percent, July was 7 and now 9 percent.

As we have mentioned here before, Post Falls is at risk of losing the stimulus provided by the USDA's Rural Development loan should it expire this month as scheduled. How that will affect their market is uncertain but for now we see sustained interest. The average Post Falls home sold in August at 12 percent more than a year ago. Agents selling homes in Post Falls tallied a 34 percent increase over sales activity last year during the first seven months.

Hayden sales are strong too. Our members reported an increase in number of homes there that is 13 percent higher than last year. The average price though has tapered off with a 9 percent improvement over 2012 compared to a 12 percent increase posted in July.

North Kootenai County continues to show very strong improvement. Down from their 88 percent increase in number of sales in July, they are still 65 percent ahead of last year with 38 sales compared to 26 at the same time in 2012. The average price there shows a 28 percent improvement instead of the 44 percent they enjoyed July 2013 over July 2012 but the increase is still welcome news to sellers.

Narrowing in a little on the North and focusing on Rathdrum, Hauser and Twin Lakes, we see sales are flat. Last year at the end of August they had sold 95 homes, exactly the number of sales this year. However, their average price inched up by a respectable 14 percent. There you will pay an average of $158,346 for a home on less than two acres.

South Kootenai County homes sold at a 69 percent higher rate, with 27 sales compared to 16 last year. The average price there increased by 6 percent. Neighboring Benewah County fared well too, showing an increase from 27 sales to 32 this year at an average price that is 13 percent higher than 2012.

In the Silver Valley the strength is largely in their price recovery. They did show an improvement in sales, from 102 to 110 for an 8 percent gain, but their average price increase is impressive. They show a 26 percent year-over-year improvement with an average price nearly $20,000 over the previous year.

Sales of waterfront properties remain below last year as does their average selling price, while secondary waterfront, condominiums and townhomes increased their numbers. Still, even with the respectable increases of number sold, prices remain below last year for those properties.

Overall, the market is strong. Our totals reflect that MLS wide our number of sales has improved by 24 percent while our average price has improved by 11 percent. This means an increase of over $113 million in transactions this year over 2012.

Of course a strong market makes the occupation of real estate agent an attractive one for job seekers. Our orientation classes at the Association offices have been full throughout the summer and we are seeing roughly 30 new agents every month join the Coeur d'Alene Association of Realtors. If even a portion of them become involved in our governance we should remain strong for the future.

Trust an expert ... call a Realtor. Call your REALTOR or visit www.cdarealtors.co 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