Key Market Indicators – September Recap 2020
Kootenai County Housing Update - Resale Only
We continue to be virtually sold out in Kootenai County. There were more homes going under contract than new listings in Kootenai County, one indication that the market is hot! Sales activity intensity is substantially higher than one year ago for each new listing as it comes on the market.
There is a severe shortage of homes priced up to $500,000 in Kootenai County, and sales activity intensity is at extreme frenzy. 62 percent of sales activity occurs in this range. In the $500,000 to $750,000 range (20 percent of sales activity), sales activity intensity is at surge, and there is a severe shortage of unsold inventory.
Housing Market Heat is Still On
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
THE REAL ESTATE MARKET IS IN ROTATION
COVID-19 has made many reflect on what their home means to them. As a result, many people are looking to create that ideal place to call home - whether that means refinancing, remodeling, or moving.
This reflection, along with historically low interest rates, have opened up possibilities for those looking to move within their local market or find a new home elsewhere with their family, friends and lifestyle in center view.
No matter what you’re looking for in a home, a trusted real estate professional can help you along the way.
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