If you're looking to buy or sell a home in the Coeur d'Alene area, it helps to have a good understanding of what's happening in the real estate market. Whether you're buying your first single-family home or thinking about selling your current place, knowing a few key things can really make a difference. Let's break it down so you can feel confident in your next steps.

Months Supply of Inventory in Coeur d'Alene

The "Months Supply of Inventory" tells us how many months it would take to sell all the homes currently on the market if no new homes were listed. Right now, Coeur d'Alene has about a 4.1-month supply. What does that mean for you? A balanced market—where neither buyers nor sellers have an advantage—typically has about a 6-month supply of homes. Since we only have 4.1 months, it's still considered a seller's market, meaning there's more demand than supply. If you're selling, that's good news because it often means quicker sales and higher offers. If you're buying, it means you'll want to be ready to act quickly when you find a home you love.

12-Month Change in Inventory in Coeur d'Alene

We're seeing some changes, though. The supply of inventory has increased by about 13.26% compared to last year. This means we're moving a little closer to a balanced market. For sellers, it might mean that homes aren't flying off the market quite as fast as before, and for buyers, it might mean having more options and less competition. That could mean fewer bidding wars and a bit more breathing room.

Median Days on Market for Coeur d'Alene Homes

Another important piece of the puzzle is how long homes are staying on the market. Right now, homes in Coeur d'Alene are taking about 34 days to sell, on average. For buyers, this means that when you find a home you like, you need to move pretty fast because homes aren't staying available for long. For sellers, it means you have to be ready from day one—price your home right and make sure it looks its best so it sells within that timeframe. Homes that sit on the market longer are often those that are priced too high or don't show well.

List to Sold Price Percentage in Coeur d'Alene

Another thing to consider is how close homes are selling to their asking prices. Right now, homes are selling for about 95.9% of their list price. This means that most sellers are getting offers pretty close to what they ask for, but there’s still a little room for negotiation. If you’re selling, pricing your home competitively is still key. If you’re buying, it means that while there may be some room to negotiate, super low offers probably won't get you very far—most sellers are getting pretty close to what they're asking for.

Median Sold Price for Coeur d'Alene Homes

The median sold price for homes in Coeur d'Alene is $595,000. For sellers, this is a good benchmark to keep in mind when deciding on your list price—going too high above the median might turn buyers away, while going too low could mean missing out on potential profit. For buyers, this gives you an idea of what to expect when budgeting for your new home. It’s always helpful to work closely with your real estate agent to see how a home’s price compares to others that have sold recently.

What Does This Mean for Buying or Selling in Coeur d'Alene?

The Coeur d'Alene market is shifting but still leaning in favor of sellers. If you’re looking to sell, now is a good time, especially if your home is in good shape and priced well. If you’re buying, things aren’t quite as competitive as they were a year ago, but it’s still important to move quickly when you find the right home.

Having a good real estate agent by your side makes all the difference. I’m here to help you understand these trends and use them to your advantage, whether you're buying or selling.

Ready to Make Your Move in the Coeur d'Alene Real Estate Market?

If you’re thinking about buying or selling, I’d love to help make the process as smooth as possible. Let’s chat about your goals and come up with a plan that fits your needs in today’s market. Reach out today, and let’s make your real estate dreams a reality!