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Coeur d'Alene Regional REALTORS®

Regional Realtors president: Housing market healthy

Coeur d'Alene/Post Falls Press article:

Staff Writer | January 9, 2024 1:09 AM

COEUR d’ALENE — The number of single-family homes sold in 2023 in Kootenai County fell nearly 16% from 2022 and nearly 39% from the COVID year of 2021.

According to the year-end tally from the Coeur d’Alene Regional Realtors, 2,158 single-family Kootenai County homes sold last year, compared to 2,557 in 2022 and 3,510 in 2021.

The median price of Kootenai County homes sold was $525,000 for the sixth straight month.

The number of current active residential listings as of Jan. 1 in Kootenai County was 658, according to the CRR, up slightly from 634 a year ago, but a 72% increase from 184 two years ago during the buying frenzy.

Jared McFarland, Coeur d'Alene Regional Realtors 2023 president, said last year was a healthy real estate market.

“This last year, a buyer could expect a handful of homes that fit their needs to look at, and buyers were able to make offers below asking price. Something we didn't see a few years ago,” he said. “Sellers were able to sell their home if they priced it correctly but weren't able to sell for over market value."

It took nearly 25% longer to sell a Kootenai County single-family home in 2023, 91 days, compared to 74 days in 2022.

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