North Idaho Real Estate Blog Keeping the “invisible” property owners of Kootenai County in-the-know, as if you were here on a daily basis. 208.769.9464 * dreamteam @ nidt . com * Author: Christina Ethridge, REALTOR(R)

Kootenai County Idaho Total Residential Real Estate Marketing Overview - December 1st, 2007

Summary overview:

As we can obviously see, residential home inventory in Kootenai County is shrinking. The question to ask is if this shrinkage is part of our natural cycle of shrinkage from summer to fall, or is it what all of us are hoping for: reality setting in and wishy washy sellers getting their over-priced homes off the market. Only time will tell. As of December 1st, inventory levels are down by 27.3% or 823 listings from July 2007. Let’s hope this pace keeps up. Since inventory historically peaks in August, it appears to have peaked a month earlier than normal. This indicates that this reduction in inventory is not just from the natural cycle of real estate.

Average prices have hovered for a few months now with no visible up or down. Holding steady. Average days on market appears to be holding steady as well and sitting at historical norms for Kootenai County. The months of inventory will start peeling back as inventory keeps dropping, putting us back into a truly ‘balanced’ market.

What’s unusual? We saw a big jump in total pending listings this month vs. other months. This could simply be the timing of closings or, it can also indicate an increase in sales. This is something to watch closely.

The other element we have is an overabundance of licensed agents. Because sales are significantly down and have been for the past 2 years, we will start to see an exodus of agents who are simply not selling. With inefficiencies gone, we’ll also see the effect on too many over-priced listings (typically the product of agents desperate for a ‘deal’ and will take any property and put it on the market at any price). The effect will be much needed - fewer properties on the market and the properties that are on the market are much better priced.

The Kootenai County Total Market Overview is available in an attractive full-color .pdf format. Just drop me an email if you would like it emailed to you.

November 2007
2,200 Total Active Listings
225 Total Pending Listings
157 Total Closings
$310,178 Average List Price of Sold Homes
$291,582 Average Sold Price
94% List to Sales Price Ratio
143 Average Days on Market (for sold homes)
14 Months of Inventory

October 2007
2,341 Total Active Listings
64 Total Pending Listings
185 Total Closings
$326,867 Average List Price of Sold Homes
$309,067 Average Sold Price
95% List to Sales Price Ratio
137 Average Days on Market (for sold homes)
13 Months of Inventory

September 2007
2,646 Total Active Listings
82 Total Pending Listings
213 Total Closings
$318,468 Average List Price of Sold Homes
$309,515 Average Sold Price
97% List to Sales Price Ratio
124 Average Days on Market (for sold homes)
12 Months of Inventory

August 2007
2,904 Total Active Listings
312 Total Pending Listings
192 Total Closings
$310,537 Average List Price of Sold Homes
$295,854 Average Sold Price
95% List to Sales Price Ratio
133 Average Days on Market (for sold homes)
15 Months of Inventory

July 2007
3,023 Total Active Listings
350 Total Pending Listings
201 Total Closings
$287,475 Average List Price of Sold Homes
$278,594 Average Sold Price
97% List to Sales Price Ratio
141 Average Days on Market (for sold homes)
15 Months of Inventory

Posted under Market Reports

We’ve just updated our website with this week’s newest rentals now available. If you are looking for a home, condo, town home or apartment for rent Coeur d’Alene, Hayden, Rathdrum or Post Falls, Idaho, check out our website and view photo tours and more information on properties available for rent. You can also get an application and more information about renting from us on our property management website: D&M Management LLC.

Posted under For Renters

We’ve just updated our website with this week’s newest rentals now available. If you are looking for a home, condo, town home or apartment for rent Coeur d’Alene, Hayden, Rathdrum or Post Falls, Idaho, check out our website and view photo tours and more information on properties available for rent. You can also get an application and more information about renting from us on our property management website: D&M Management LLC.

Posted under For Renters

We’ve just updated our website with this week’s newest rentals now available. If you are looking for a home, condo, town home or apartment for rent Coeur d’Alene, Hayden, Rathdrum or Post Falls, Idaho, check out our website and view photo tours and more information on properties available for rent. You can also get an application and more information about renting from us on our property management website: D&M Management LLC.

You can also simply look at this weeks “Now Renting Flyer” - available in adobe .pdf.

Posted under For Renters

We’ve just updated our website with this week’s newest rentals now available. If you are looking for a home, condo, town home or apartment for rent Coeur d’Alene, Hayden, Rathdrum or Post Falls, Idaho, check out our website and view photo tours and more information on properties available for rent. You can also get an application and more information about renting from us on our property management website: D&M Management LLC.

You can also simply look at this weeks “Now Renting Flyer” - available in adobe .pdf.

Posted under For Renters

Idaho’s education system is currently under evaluation. The task set forth is to evaluate each school in order to identify what needs to be done to make it more secure. Once that is done, the next step is to find potential grants from the US Department of Homeland Security and the US Department of Justice. At this point, it appears that Idaho is the only state working on school safety in a proactive manner.

Coeur d’Alene schools received two big thumbs up from a security consultant tasked with evaluating the 694 schools statewide on safety.

“You look at a school like Coeur d’Alene High School and it’s an incredible job they’ve done,” said Doug Melvin, president of the security and management consulting firm DACC Associates. “It’s clear and obvious they are making safety a priority and you don’t always find that.”
If you are a parent of a Kootenai County school student, please participate in the safety survey available here.

Full article here.

Posted under For Buyers

Idaho’s education system is currently under evaluation. The task set forth is to evaluate each school in order to identify what needs to be done to make it more secure. Once that is done, the next step is to find potential grants from the US Department of Homeland Security and the US Department of Justice. At this point, it appears that Idaho is the only state working on school safety in a proactive manner.

Coeur d’Alene schools received two big thumbs up from a security consultant tasked with evaluating the 694 schools statewide on safety.

“You look at a school like Coeur d’Alene High School and it’s an incredible job they’ve done,” said Doug Melvin, president of the security and management consulting firm DACC Associates. “It’s clear and obvious they are making safety a priority and you don’t always find that.”
If you are a parent of a Kootenai County school student, please participate in the safety survey available here.

Full article here.

Posted under For Buyers

Idaho’s education system is currently under evaluation. The task set forth is to evaluate each school in order to identify what needs to be done to make it more secure. Once that is done, the next step is to find potential grants from the US Department of Homeland Security and the US Department of Justice. At this point, it appears that Idaho is the only state working on school safety in a proactive manner.

Coeur d’Alene schools received two big thumbs up from a security consultant tasked with evaluating the 694 schools statewide on safety.

“You look at a school like Coeur d’Alene High School and it’s an incredible job they’ve done,” said Doug Melvin, president of the security and management consulting firm DACC Associates. “It’s clear and obvious they are making safety a priority and you don’t always find that.”
If you are a parent of a Kootenai County school student, please participate in the safety survey available here.

Full article here.

Posted under For Buyers

I reported on the probability of this happening a couple months ago. Back then it was in strong talks. Now, the contract has been signed and production will begin in the early spring of 2008.

“Coeur d’Alene Tribe Chairman Chief Allan said the U.S. Army finalized a contract with the Tribe valued at up to $400 million. The contract will provide equipment for the Army and high-paying jobs for the region.”

“BIS has developed manufacturing technologies for the production of fuel bladders that exist nowhere else in the world,” Dickson said. “We believe that our product will be the best quality, using the best materials for superior performance and support of Army personnel.”

“Berg currently employs about 30 people and it plans to add at least 40 more workers, including tribal and non-tribal members. The starting wage for those jobs is expected to be about $15 an hour.”

This is excellent economic news for our area. Bringing more blue-collar good-paying manufacturing jobs to the area.

Full article here.

Posted under About the Area, Economics of North Idaho, For Investors

Total Market Overview for Kootenai County residential real estate.
September 1st through September 30th, 2007
Publish date: October 1st, 2007

Total number of active listings - 2,646
Total number of pending listings - 82
Pending ratio - 3%
Total number of closings - 213
Average list price of sold homes - $318,468
Average sold price - $309,515
List to sales price ratio - 97%
Average days on market - 124
Average months of inventory - 12

If you would like a more detailed report, please email and request our Kootenai County Total Market Overview. We will email you a .pdf copy for your review.

Kootenai County Total Market Overviews are available each month on the 1st for the previous month. Here are other market reports for Kootenai County.

Posted under Market Reports