Home sales on the rise

COEUR d'ALENE - There are signs the housing market in North Idaho is stabilizing, according to the latest report from the Coeur d'Alene Multiple Listing Service.

Single-family home sales through August in Kootenai County total 1,151, a 12 percent increase over 2009 for the same time frame.

The average sales price fell 5 percent to $183,206.

Total sales volume reported to the MLS so far this year is $402.1 million, up 14 percent.

"It seems buyers are coming out again even if in lower numbers than those inspired by the tax rebates," Century 21 Beutler and Associates Realtor Pete Faust wrote in an e-mail. "Pending residential sales are trending upward again as well - a very welcome sign."

In Coeur d'Alene and Dalton Gardens, single-family home sales were up 17 percent through August, while the average price fell 2 percent to $182,835.

In Post Falls, home sales were up 2 percent, and the average sales price was down 2 percent to $175,118.

In Hayden, home sales were up 29 percent, and the average price was down 12 percent to $209,422.

And in Rathdrum and Twin Lakes, sales were down 5 percent, while the average sales price fell 15 percent to $157,257.

The MLS reported that 58 percent of all residential sales in August were for less than $200,000.

The average sales price of a single-family listing in August with three bedrooms, two bathrooms, was $171,588, with an average 129 days on the market.

According to the MLS, 15 homes sold in the $500,000 to $999,999 range in August, and one sold for more than $1 million.

Waterfront home sales are up 23 percent to 53 through August, but the average price was down 30 percent to $631,853.

The number of residential listings in August stood at 4,515, up 1.1 percent from a year ago, according to the MLS.

Faust wrote that prices remained stable if you're optimistic, or flat if you're a pessimist.

"I think its a good sign that even with a steady stream of repos and short sales coming onto the market they are being purchased at this base level which stabilizes prices," he wrote.

He noted that several builders in Post Falls, due to reduced lot prices in some subdivisions, have begun purchasing lots and are offering new lines of mid-priced homes.