Cd'A price-cut-a-palooza
Our fall series on North Idaho price cuts comes to a close with a look at some deals in Coeur d’Alene.
Price cuts happen for many reasons. Even spectacular properties in hot neighborhoods sometimes need price cuts to find that “sweet spot” buyer. Some agents strategically start at higher prices and begin incremental price drops in order to lure the perfect buyer.
We’ve said it in every installment: Price cuts in a particular area do not indicate a market slowdown. Real estate in North Idaho remains hot, and inventory will likely continue to be limited throughout the next few months. All the more reason to take advantage of price cuts when they happen.
Conveniently, all of our featured price cuts are located south of Interstate 90 in the heart of Coeur d’Alene. Being close to downtown and Lake Coeur d’Alene comes at a premium, which definitely explains the prices we’ll see compared to previous price-cut-a-palooza installments.
Those in search of upscale condominium living might consider the Village at Riverstone, where food, shopping, entertainment, Spokane River access and the Centennial Trail are all within footsteps. A 1,600+ square foot condo with three bedrooms and covered patio that walks out onto a landscaped rooftop garden recently slashed a significant amount and is now priced at $525,000.
Meanwhile, a more modest offering on 2nd St. north of Harrison Ave. dropped $4,000 to $295,000. The recently remodeled two-bedroom home with 1,200 sq. ft. would make for a nice starter home or rental opportunity.
A bit closer to downtown and near Government Way are two larger homes with enticing price cuts. A four-bedroom, 2,800+ square foot home with a multigenerational layout (an in-law quarters with separate entrance) comes with a 24x24 shop and is priced at $674,000, down $25,000 from mid-October.
Another $25,000 drop nearby comes in the form of a sprawling five-bedroom, four bathroom craftsman with 4,100 square foot, modern amenities and a detached three-car garage. Price: $925,000 - pretty fair once you take a look at the listing, location and comparables.
More price cuts can be found east of Tubbs Hill in and around the Sanders Beach neighborhood. Just outside that area (two blocks north of Sherman Avenue) is a three-bedroom, 1,700+ square foot home down $18,000 to $425,000.
Next cheapest, and well-inside the Sanders Beach area (and within easy walking distance of the waterfront) is a three-bedroom, 1,400+ square foot home now priced at $475,000 after a $20,000 price drop last month. Close by is a larger home (four bedrooms, 2,800+ square feet) built in 2018 now priced at just under $740,000, down $18,000 from last month.
Want new construction near the water in the Sanders Beach neighborhood? Got a million bucks? Well, you can save $60,000 now on a four-bedroom, 4.5 bathroom 2020 home with almost $3,000 square feet and a ton of fancy modern things (including a hot tub!). Price: $1,099,000.
The more money you have, the more you can save… at least in the case of another Sanders Beach property with four bedrooms, 3,300+ square feet and everything fancy. A price cut last month slashed $200,000 to come in at $1,800,000. Folks with that kind of money can buy a few extra cars with that savings.
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Let us know about the standout neighborhoods around North Idaho you want to see featured in Neighborhood of the Week. Realtors! Reach out to us with updates on new developments and established neighborhoods in Coeur d’Alene, Post Falls, Hayden, Rathdrum and beyond. Contact Tyler Wilson at twilson@cdapress.com.
