The Coeur d'Alene, Idaho real estate market is buzzing with activity, and there’s so much to unpack from this past month-November 2024. Whether you’re considering buying your dream home or selling and upgrading, understanding key market metrics can give you the confidence to make informed decisions. Let’s dive in and explore the trends shaping our local real estate scene and what they mean for you!

What Makes Coeur d'Alene Special?
Before we jump into the numbers, let’s take a moment to appreciate what makes our area so incredible. Coeur d'Alene’s natural beauty, with its shimmering lakes, beautiful landscapes, and welcoming community vibe, makes it one of the most desirable places to live. Whether you’re looking for outdoor adventures or a peaceful retreat, this town truly has something for everyone.

Months Supply of Inventory: 3.57
This critical metric represents how long it would take to sell all the homes currently on the market if no new listings appeared. With 3.57 months of inventory, the market is teetering between balanced and favoring sellers. Generally, a lower number signals a seller’s market, while a higher number indicates more opportunities for buyers. For sellers, this is your cue to prepare your property to stand out. For buyers, a balanced market means you still have options without the intense competition of a seller’s market.

12-Month Change in Months of Inventory: +9.17%
The increase in inventory compared to last year is excellent news for buyers. More homes on the market provide greater selection, giving you the opportunity to find the perfect property. If you’re selling, it’s a reminder to position your home competitively. More inventory means buyers have choices, so showcasing your home’s unique value is key.

Median Days on Market: 15
Homes are moving fast! With a median of just 15 days on the market, well-priced and well-marketed properties are snapped up quickly. Sellers, this is your moment to shine. Presenting your home in its best light can lead to swift offers. Buyers, be ready to act decisively. Work with a knowledgeable agent (hint: me!) to move quickly when you find the right fit.

List-to-Sold Price Ratio: 97.8%
On average, homes are selling for nearly 98% of their listing price, reflecting a strong, competitive market. For sellers, this means pricing your home accurately from the start is crucial to attracting motivated buyers. Buyers, it’s a sign to come prepared with solid offers. A competitive market like this rewards informed decisions and timely actions.

Median Sold Price: $573,500
The median sold price provides a snapshot of the area’s home values. At $573,500, it’s clear that Coeur d'Alene remains an attractive and desirable market. Buyers can use this as a benchmark when planning their budget. Sellers, this figure can help set realistic expectations for your property’s value.

A Glimpse Into the Future
As we head into the winter months, the market might see some seasonal shifts, but Coeur d'Alene’s appeal ensures steady activity. Buyers can take advantage of potentially less competition during this time, while sellers should prepare their homes to shine in a slightly calmer market. Either way, planning ahead with expert advice is always a winning strategy.
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What Does This Mean for You?
For buyers, the slightly increasing inventory is creating more opportunities to find your dream home, but with quick turnaround times, having an expert guide on your side is critical. For sellers, the high demand and competitive pricing environment ensure your home can sell quickly and for top dollar—if you’re prepared and strategic.

Navigating the real estate market doesn’t have to be overwhelming. With a deep understanding of local trends and personalized guidance, I’m here to help you achieve your goals, whether you’re buying, selling, or both. Let’s connect! I can provide detailed visual aids, including charts and infographics, to help you make sense of these numbers and craft a winning strategy tailored to your needs.

Reach out today to discuss your unique needs and how we can make the most of this exciting market. Let’s turn your real estate dreams into reality!