MARKET TRENDS

Coeur d'Alene, Idaho, has been steadily growing in popularity as a desirable location for both residents and tourists With its stunning natural beauty and abundance of recreational opportunities, it's no wonder that the real estate market in Coeur d'Alene has been experiencing a significant surge in recent years In this article, we will highlight some of the crucial market trends that are shaping the city's real estate landscape. Named the top market in 2021 by the Wall Street Journal out of 300 metro areas, the once sleepy town is now anything but with everything from culinary delights to outdoor adventures

One of the most significant market trends in Coeur d'Alene is the increase in property values

According to recent data, the median home price in the city has risen by 12% over the past year alone, with projections suggesting that this upward trend will continue for the foreseeable future. Many factors contribute to this significant increase including the strong local economy, high demand for housing, and the city's prime location near several major urban centers.

Additionally, with a tight labor market and geographic constraints such as a mountain pass to the East, the city of Hayden to the North, the city of Post Falls to the West, and the lake itself to the South, there are limited areas of infill and development left, pushing prices higher for those who want to be in the heart of it all.

As far as property types, single-family homes remain the most popular choice for buyers in Coeur d'Alene However, the local market also boasts a variety of condominiums, townhouses, and investment properties for those looking to diversify their portfolio. Regardless of the type of property, demand has remained strong consistently for years and is predicted to continue.

Don’t forget the sport of golf that has seen a huge resurgence since many found more time for the recreational past-time when working remotely brought new workplace efficiency and eliminated hours of commute time The Pacific Northwest has long been a haven of affordable golf rounds at high-quality public courses, but the addition of new world-class private golf resorts such as Gozzer Ranch in Harrison, The Idaho Club in Sandpoint, recently rebranded Coeur d’Alene National, and my personal favorite, the Golf Club at Black Rock. The caliber of visitors to these hotspots brought the next level of visibility to the area.

In conclusion, the Coeur d'Alene real estate market is experiencing a period of growth and prosperity that shows no signs of slowing down With property values on the rise and demand for housing at an all-time high, the city's real estate sector offers a wealth of opportunities for buyers, sellers, and investors alike. With careful planning and a solid understanding of the current market trends, anyone can make the most of this exciting time in Coeur d'Alene's real estate history.