Well we are wrapping up another block buster year for Coeur d’Alene Real Estate Sales. The Idaho Panhandle has continued to witness an economy that seems to be firing on all cylinders. Idaho unemployment claims continue to drop, new businesses are building and coming to the area and residential sales continue to escalate.
Looking at the November numbers as published by the Coeur d’Alene Association of Realtors we saw in increase of nearly 5% in the number of residential home sales with an average price increase of 8.2%. Waterfront homes were the biggest movers this year with price increases up 41%. Last year the average waterfront home sale was $532,209 and this year it is $750,522.
Inventories too increased. As local Sellers are reading about the improving real estate economy they have come off the sidelines to attempt to sell those property they were unable to move when the markets were depressed. This inventory growth, coupled with low interest rates are proving beneficial for those Buyers entering the market place.
For more information about the local market place contact me here or call me at 208-818-0002. Thank you and Merry Christmas!