INTRODUCTION – JARED MCFARLAND Ò Fifth generation in Coeur d’Alene Ò University of Idaho – Bachelors of Science, Business Marketing Ò Top Producing agent in Kootenai county for over 12 years. Ò Incoming President for CDA MLS Board of Directors Ò Board Member of the CDA Association of Realtors Ò Chairman of the MLS Rules and Regulations committee. Ò Member of the Professional Standards Committee Ò Certified Finally Home first time home buyer instructor
Transcript
INTRODUCTION – JARED MCFARLAND
Ò Fifth generation in Coeur d’Alene Ò University of Idaho – Bachelors of Science, Business
Marketing Ò Top Producing agent in Kootenai county for over 12 years. Ò Incoming President for CDA MLS Board of Directors Ò Board Member of the CDA Association of Realtors Ò Chairman of the MLS Rules and Regulations committee. Ò Member of the Professional Standards Committee Ò Certified Finally Home first time home buyer instructor
OVERVIEW OF PRESENTATION
Ò CURRENT MARKET SNAPSHOT Ò CDA MLS 2016 VS 2017 Ò SELKIRK MLS 2016 VS 2017 Ò LONG TERM MARKET TRENDS Ò FACTORS CURRENTLY INFLUENCING OUR MARKET Ò ONE YEAR MARKET PREDICTION Ò LONG TERM MARKET PREDICTION
CDA MLS 2016 VS 2017
2016 2017 % CHANGE MEDIAN SALES PRICE $215,000 $239,900 11% TOTAL ACTIVE INVENTORY 6458 6175 -4% AVERAGE DAYS ON MARKET 105 98 -6% NUMBER OF HOMES SOLD 3913 4041 3% SALE/LIST PRICE RATIO 96% 97% 1%
COEUR D’ALENE 2016 VS 2017
2016 2017 % CHANGE MEDIAN SALES PRICE $236,000 $260,000 10% TOTAL ACTIVE INVENTORY 1829 1836 0% AVERAGE DAYS ON MARKET 94 80 -14% NUMBER OF HOMES SOLD 1231 1267 2% SALE/LIST PRICE RATIO 99% 99% 0%
POST FALLS 2016 VS 2017
2016 2017 % CHANGE MEDIAN SALES PRICE $206,327 $231,192 12% TOTAL ACTIVE INVENTORY 1636 1510 -7% AVERAGE DAYS ON MARKET 99 98 -1% NUMBER OF HOMES SOLD 1095 1063 -2% SALE/LIST PRICE RATIO 100% 100% 0%
SELKIRK MLS 2016 VS 2017
2016 2017 % CHANGE AVERAGE SALES PRICE $231,906 $267,999 15% TOTAL ACTIVE INVENTORY 3918 3775 -4% AVERAGE DAYS ON MARKET 105 98 -6% NUMBER OF HOMES SOLD 1944 1910 -1.7% SALE/LIST PRICE RATIO 94% 95% 1%
WATERFRONT STATS
Ò AVG SALES PRICE – UP 14%
Ò INVENTORY – DOWN 7%
Ò DAYS ON MARKET – DOWN 13%
Ò NUMBER SOLD – UP 16%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Average Sales Price CDA MLS
Data courtesy of Coeur d’ Alene Multiple Listing Service.
3.5%Appreciation/Year
$283,018
$206,052
$261,957
FACTORS INFLUENCING OUR MARKET
Ò LEADING MARKETS – SEATTLE, CALIFORNIA, ETC
Ò ECONOMY AND STOCK MARKET Ò QUALITY OF LIVING – CRIME, RECREATION, ETC Ò COST OF LIVING Ò MEDICAL Ò WATER AND RESOURCES
ONE YEAR MARKET PREDICTION
Ò PRICES WILL CONTINUE TO INCREASE AT A RATE OF 10% - 12% THROUGH 2018
Ò INVENTORY WILL FALL SLIGHTLY Ò DAYS ON MARKET WILL DECREASE Ò NUMBER OF HOMES SOLD WILL DECREASE
SLIGHTLY
LONG TERM MARKET PREDICTIONS
Ò PRICES WILL CONTINUE TO RISE AT 3.5% TO 4%
Ò CDA WILL GROW TALL WITH HIGH RISE BUILDINGS
Ò POST FALLS AND RATHDRUM WILL HAVE THE MOST COMMERCIAL GROWTH
Ò ALL CITIES WILL HAVE TO STAY ON TOP OF INFRASTRUCTURE. i.e. SPIRIT LAKE
