Impressive activity in early 2015
If we were to tell you it is a brisk real estate market it would be an understatement. With more than half the year left the end of April statistics have been compiled and the market continues to show signs of acceleration. Not only are homes selling faster, the volume of homes sold is increasing and prices are rising.
Across the entire Coeur d'Alene Multiple Listing Service area we see a dramatic 18 percent increase in the number of single family homes over last year. The average price of those homes increased an impressive 14 percent. Here is how it breaks down for single family homes on less than two acres:
Coeur d'Alene and Dalton Gardens show a 12 percent increase in the number of homes sold when compared to the same time period in 2014. Their average price is now 12 percent higher than last year.
Post Falls shows a whopping 30 percent increase in home sales. That is a slight dip from the 36 percent year over year March totals but still quite impressive. The first four months of the year have been very active for them. The average price there also showed improvement with a 4 percent increase over last year.
Hayden and Hayden Lake which were flat at the end of March selling exactly the same number of houses, awakened in April exceeding 2014 year to date sales by 14 percent. Their average price is 7 percent higher than the previous year.
Now north to Rathdrum, Hauser and Twin Lakes, reported collectively due to proximity and populace.
The number of sales in those three communities is up a whopping 42 percent when compared to 2014 at the end of April. The average price improved an impressive 24 percent when compared to the average price last year.
North Kootenai County homes on less than two acres but outside the cities reported above, showed an increase in number of sales 38 percent higher with 18 homes sold compared to 13 last year. The average price of those homes was actually 18 percent less than the previous year but when there are that few sales, one bargain priced home can drag the average down significantly.
Still further north, in Bonner and Boundary counties, a 4 percent increase in sales reaped a 36 percent average price increase.
For more small numbers that significantly affect averages we turn to South Kootenai County where a 48 percent increase in sales means three more houses. The average price with these small numbers where a number of waterfront properties are found, was 78 percent higher than last year. One luxury waterfront home can really make a difference.
The Silver Valley fell two sales short of last year's production, yet they posted a positive gain in average price of 6 percent over 2014 as of April 30. Benewah County nearly doubled their sales from seven to 13 for an 86 percent increase and an average price that is 32 percent higher than last year.
Everywhere we look we see a much improved real estate market. Maybe it is time for you to jump in.
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.