New Listings- 483 down 14.4%
Average Sales Price- $650,239 up 8.5%
Sold Properties- 301 down 18.4%
Average Days on Market- 57 down 1.7%
Percentage to list price- 100.6% down 1.7%
Months Supply- .8 up 14.3%
Stats are compared to March 2021 previously owned properties only in Kootenai County.️
It's no secret home prices have increased at a rapid rate. New construction properties and previously owned properties have nearly doubled in a couple of years.
Interest rates are rising and due to continue throughout the year. This is expected to slow down the housing market. We are starting to see the effects of it now. We have a long way to go to be considered a balanced market but it's a small step in that direction. If you're looking to sell, I recommend doing it now to take advantage of this market. If you're a buyer, you may actually get a chance to negotiate.
Laurel Jonas- REALTOR®
Northwest Realty Group
2022 N. Government Way Coeur d'Alene, ID 83814