Coeur d’Alene September Residential Market Summary

Spokane Area September 2011 Residential Report

 

Spokane Market Summary for the Week

Spokane Market Summary

Spokane Area July 2011 Residential Report

(Spokane Association of REALTORS)  367 residential sales of condos and site built homes on less than one acre were reported for July. The average sales price for July was $178,067 and the median sales price for July was $165,800.

Residential closed sales through July total 2,220 sales compared to 2,670 over the same period last year. Sales are down 16.9% year to date. This is an improvement over year to date figures for last month when sales were reported to be down 20.2% The year to date average sales price is $170,554. This number is down 6.7% compared to last year when the average sales price was $182,728. Median sales price is $155,000 down 5.5% compared to last year when the median price was $164,000.

The current inventory when compared to last year is down 9.2%, 3,177 compared to 3,500. Sales of newly constructed homes are down 17.1% through July., 277 compared to 334 for last year through July.

Last month’s sales fell sharper than expected.  Nationally 4% of agents reported cancelled sales vs. 16% in June. Our office Saw 22 sales flub last month which is extremely unusual.  The main cause appears to be from financing issues with buyers.

Coeur d’Alene July Residential Market Summary

Coeur d’Alene May Residential Market Summary

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May 2011 Residential Report

(Spokane Association of REALTORS) Sales of single family homes on less than one acre including condos increased for the fourth consecutive month. Sales for May total 382 compared to 332 sales in April, an increase of 15.1%. The average sales price for May was $164,282 and the median sales price was $149,950.

Year to date sales through May total 1,395 compared to 1,816 over the same period last year, down 23.2%. We are still seeing the impact of the first time and move up buyer tax credits which expired in April of last year. The year to date average sales price is $166,656 compared to last year’s average sales price through May of $179,095, down 6.9%. Median prices are also down, $152,500 compared to $160,000, or 4.7%.

Inventory continues to trend downward compared to last year. As of this report our inventory compared to last year is down approximately 10%, 2,977 compared to 3,304. New construction home sales reported to the SARMLS are down 14.4% through May, 167 this year compared to 195 over the same period last year.

 

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Coeur d’Alene April Residential Market Summary

April 2011 Spokane Residential Report

(Spokane Association of Realtors) Sales of single-family homes increased in April over the previous month. 332 residential sales on less than one acre including conds were reported compared to 307 from the previous month. The average sales price for April was $166,868 while the median sales price was $153,157.

Sales through the first four months of this year total 1,013 compared to 1,296 over the same time last year. Again, last year the first time homebuyer and move up buyer tax credit were in effect. Sales so far this year are down 21.8%. Last year at this time we were reporting sales up 33.3%. The average sales price through April is $167,551 compared to $178,400 for last year. Average sales price is down 6.1%. The year to date median price is $153,000, down 4.4% from $160,000 last year at this time.

Inventory through April this year is down 15.8% compared to last year. Inventory as of this report stood at 2,874 properties compared to 3,414 last year. New home sales are down 8.6% so far this year.