Holding our own - and then some
As promised the statistical report from the Coeur d'Alene Multiple Listing Service is completed and we are pleased with the results. We have indeed outpaced 2006 for year-to-date sales and by more than anticipated. We actually show 62 sales in excess of last year at October's end.
Even though sales in the Coeur d'Alene and Dalton Gardens area slowed its gain to just 2 percent above last year (down from 3 percent last month), the average price there showed an increase of 5 percent just as it did in September. Other areas continue to escalate activity by significant margins with Hayden showing a 16 percent increase in sales over last year at an average price that is 11 percent higher.
Post Falls has increased too, with sales up 10 percent over 2013 and a respectable 9 percent increase in average price. At the end of September they were up 8 percent in sales at the same 9 percent average price increase indicating that the market is not discouraged by their rising prices.
Rathdrum, Hauser and Twin Lakes which are reported as one area, continues to impress with a respectable 24 percent increase in number of sales and an average price that is 12 percent above last year's average. The rest of North Kootenai County, which represents rural areas, was down slightly in the number of sales when compared to last year, but the average price there was 25 percent higher than those in the previous year.
South Kootenai County showed significant recovery with homes there selling at an average price 43 percent higher than last year, even though 15 percent fewer homes have sold than in 2013. That brings the averages for Kootenai County to an overall 7 percent increase in number of sales at an average price that is 9 percent improved over last year.
Of other counties served by our MLS, Shoshone and Benewah maintained well with minimal shifts in either number of sales or average prices over last year. Bonner and Boundary however have a different story to tell. Our members reporting in those areas have indicated a 23 percent increase in sales! The average price there declined by 1 percent which is hardly newsworthy but the median increased by 10 percent.
Last year homes sold for less than $200,000 accounted for 61 percent of our total sales while this year that number has dropped to 55 percent. Still, we have sold more homes. The number of homes sold between $200,000 and $300,000 increased from 15.5 percent of last year's total sales to 26.3 percent of this year's total. That would reflect not only higher prices, but a better ability for buyers to afford homes than at this time last year.
Waterfront home sales are off last year by 6 percent although the average reported price is 38 percent higher than 2013. Secondary waterfront, homes with access to water but no shoreline, also dropped slightly and showed an average price increase of 12 percent over the same period last year.
As always, be sure to check with your Realtor to get a true picture of property in your neighborhood. They have access to all the data and the tools to zero in on neighborhood specifics which may vary greatly.
Trust an expert...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.