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Image by Drew Lindsley

COEUR D'ALENE HOUSING MARKET

COEUR D'ALENE HOUSING MARKET
IN FEBRUARY, 2024

TRENDS

  • Sales were UP 15% in December YoY

  • There is a definite glut in inventory in Cd'A and days on the market are beginning to rise again

  • Median Sales Prices have dropped YoY 10%

BUYING

  • The disparity between median list price and median sales price is over $100k!

  • 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 10% YoY ($521k) 

  • Buyers are out there but still constrained by mortgage rates.

  • On average, homes are spending over 97 days on the market 

Median Home Sale Price in Coeur d'Alene.png

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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