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COEUR D'ALENE HOUSING MARKET
North Idaho Housing Market Trends
December, 2024
TRENDS
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National pending sales increased in OCTOBER (5%) YoY
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However, Mortgage rates increased and mortgage application rates decreased
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Sales in Cd'A increased by a surprising 25.6% YoY in November
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Home prices in Cd'A dipped 1%
BUYING
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​Inventory is on your side, and so is DOM (99!)
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Because of this, it's still the best time to buy compared to any time in the past few years (if you can afford it!).
SELLING
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Cd'A Median Sale price is sitting at $520k
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We're far from a seller's market but homes in the area are still selling.
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There's a big rift in the sale-to-list price. Check out the graphs below for seasonal trends in Cd'A
CD'A MARKET SUMMARY
Here's how I recommend responding.
If you're a buyer, inventory is on your side. Dive in, pick up a property without facing aggressive competition and possibly concessions and wait to refinance. Be cautious about asking for too much in terms of upfront credits on those most desirable homes in order to win the offer.
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If you're a seller who has to move, list at a sensible price and be prepared for 60-120 days on the market. But if you want top dollar watch these interest rates and wait for them to come down and prices in turn will rise. It might take 18 months but that's just the reality of where we're at.
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