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COEUR D'ALENE HOUSING MARKET

NORTH IDAHO HOUSING MARKET TRENDS
MAY, 2024

TRENDS

  • ​CD'A sales were up 20.3% YoY

  • For the first time in years, national pending sales increased (.1% YoY

  • Home prices in Cd'A dropped  -.97% YoY.

BUYING

  • Buyers are back! The spring selling season is in full swing and data supports it

  • Inventory is on your side and you may be able to pick up some incentives

  • Because of this, it's still the best time to buy vs. any time in the past few years (if you can afford it!)

SELLING

  • Cd'A Median Sale prices are down .97% YoY to $515k

  • Buyers are out there but still constrained by mortgage rates. Even so, we're far from a seller's market

  • On average, homes are spending over 91 days on the market 

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CD'A MARKET SUMMARY

Here's how I recommend responding.

If you're a buyer, inventory is on your side. Dive in, pick up a property with a low purchase price and possibly concessions and wait to refinance. Be cautious about asking for too much in terms of upfront credits on those most desirable homes in order to win the offer.

If you're a seller who has to move, list at a sensible price and be prepared for 60-120 days on the market. But if you want top dollar watch these interest rates and wait for them to come down and prices in turn will rise. It might take 18 months but that's just the reality of where we're at.

Coeur d'Alene Real Estate Market

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