CDA real estate sales preview

Last week, we reported that single-family home sales in Spokane County from January through April had fallen to about 2000 levels, according to Spokane Association of Realtors data. Across the Idaho border, Kootenai County saw a 20.2 percent decrease in sales for the six-month period ending in April compared to the same period a year earlier, according to data from the Coeur d’Alene Multiple Listing Service released today.

That’s a return to about 2002 levels (see chart at right for numbers including Bonner and Boundary, and Benewah counties and other areas).

The average selling price for the 663 homes sold (each on less than an acre of property) fell about 6 percent, to $226,462. The median dropped about 5 percent, to $195,000.

All residential sales, including pricey waterfront property, fell 19.3 percent, to 1174. Total volume slid 22.2 percent, to about $298.36 million. Those sales averaged 130 days on the market, compared to 122 last year.

Like in Spokane County, inventory continues to increase. There are about 3,689 homes for sale across the MLS area, compared with 3,630 a year ago.