Kootenai County Housing Market Update

In our local Kootenai County Housing Market: Year to date homes sold is down 6% (368 homes) with the average Median Home price up 10% ($248,820K). The active residential listings break even at 0% (1061), while Days on the Market is down 16% (108 days on the market). 

There is a positive shift in our housing market for buyers and sellers. The average median home continues to be slightly inflated while inventory remains challenging. What is exciting is the homes on the Market are selling faster! We don’t expect to see the average median home prices drop much lower because of the lack of inventory. Luxury home prices are trending down but our average median homes are priced to sell and people are buying!

Mortgage Rates are slightly up from last year but and are still proving to be competitive. With mortgage rates on the rise, our first time home buyers need to start the buying process now. What this tell us is… it is #timetobuy #timetosell #realestate

Connect to www.ConnectedNorthIdahoRealEstate.com and Search for #Homes #Townhomes #Condos #Land and #CommercialProperty in #NorthIdaho Giving you access to the most recent, hottest properties available on the market. Our Connetced North Idaho Family Real Estate Team: Victoria Mallett, Jonathan, Landon & Nickie Zepeda make #househunting and #selling fun!

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