The bigger picture

When we report statistical data as compiled by the Coeur d'Alene Multiple Listing Service, we generally are reporting on single family homes on lots under two acres in size. This is consistent with the national news about real estate most often reported and we want you to be able to see how we stand by comparison. There is far more to our real estate market which exceeded $735 million in sales as of the end of Sep-tember.

You may be interested to note that our sales of businesses with their own buildings and land so far this year are in excess of $19 million. That is a dramatic improvement over the $4.2 million sold last year. Commercial buildings without businesses that have sold this year total nearly $16 million or about a million more than last year as reported to the MLS. Multi-family housing accounted for about $21 million or nearly $10 million more than last year. Keep in mind that not all activity is reported to the MLS. Several commercial real estate practitioners do not report to us.

Reporting of our rural areas last week too, was as related to single family homes on under two acres. When we look at larger parcels the statistics tell a different story. Single family homes for instance, on more than two acres showed a slight decline, down from 443 units to 409 yet their average price was up 7 percent from last year.

Manufactured homes are also segregated by staff who track these things for us. Manufactured homes on their own land of less than two acres in mass was markedly higher through this September than last year.

Our September 2013 total was 46, this year 71 units sold. The average price for this type of housing was up by 36 percent. We had 93 manufactured homes on plots more than 2 acres sold by the end of last month with an average price that was 27 percent higher than the previous year.

Vacant land sales were mixed with a slight drop in single family lots after brisk activity in 2013. Lots of less than an acre sold were 188 compared to 196 in 2013. The total value of these lots was about $600,000 less this year. We increased our vacant land sale of parcels exceeding an acre and up to 10 acres from 206 to 219 but the total dollar value was virtually unchanged from the previous year. Lots more than 10 acres rose from a total of 115 to 129 but the total value of these properties was less by about $2.5 million. Even though vacant waterfront land sales increased slightly, the value of these sold properties was down. Secondary waterfront parcels did not fare as well falling both in number and value.

Condominium sales dropped both in number and in price while townhouses dropped in number but sold at an average price that was 42 percent higher than at the same time last year.

All price brackets above $200,000 for residential properties showed significant increases which gives us another sign that things are improving locally. With our market moving well and homeowners experiencing appreciation in value, people are more confident about moving up into higher priced homes.

As we often remind you, your Realtor has access to all the data reported here. Only a Realtor member of the MLS can give you an accurate picture of what is happening in your neighborhood, so ask them.

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.