2008 Residential Real Estate Stats for Kootenai County – North Idaho Real Estate
A quick look at the residential real estate market in Kootenai County for the past 12 months.
Even with this crazy market, there are still some subsets that are doing very well. For example, Coeur d’Alene residential homes are showing no drop in average or median sales price. Homes in Rathdrum and Hauser have shown an 8% (average) & 9% (median) increase in sales price. We are seeing a higher list price now than the average over the past 12 months and days on market are still very good for our area.
2,943 Active listings
$475, 242 Average list price (today)
$412,577 Average list price over past 12 months
2,198 Sold homes
$270,005 Average sold price
123 Average days on market
2,597 Expired homes (homes that failed to sell)
What’s it look like? Like this:
10 Year Comparison Feb thru July
This is a comparison chart, provided by the Coeur d’Alene Multiple Listing Service of the past 10 years – February through July only – total number of sales. Currently, we are sitting somewhere between 2001 and 2002 (although this isn’t totally accurate as it only shows and compares the past 6 months). This is not a year-over-year comparison.
All information is taken from the Coeur d’Alene Multiple Listing Service. Information deemed reliable but is not guaranteed. Information provided is for Kootenai County only and does not encompass all areas that the Coeur d’Alene Multiple Listing Service includes.
Filed under: Market Reports | Tagged: kootenai county, market report, north idaho real estate, residential real estate
CALIFORNIA HOME SALES UP UN JULY
California Real Estate market gave signs of relief. Home sales went up 12.3 percent in July compare to the same month last year. According the Quick Data, a company that monitors Real Estate Activity nationwide.
Of the homes sold 44.8 percent were foreclosure resales.
The median home price last month was 318,000 down 3% from 328,000 for the month before and down 33.5 percent from July a year ago. Most of the drop in home prices is due to the depreciation properties are facing because of the mortgage meltdown.
Not even the most knowledgeable Real Estate indicators know exactly where the market is going. Foreclosure activity is at record levels, banks are asking for tougher requirements, non-owner occupied homes are almost impossible to re-finance.
California is in a whole different ball field than Idaho (as is Florida, Arizona and Nevada).
Yes, we have a serious increase in our foreclosures & inventory and a serious decrease in number of qualified buyers. At the same time, we are doing peachy when compared to your neck of the woods.