Rathdrum and Spirit Lake price-cut-a-palooza
The fall season presses on with more opportunities to make a good deal on the North Idaho real estate market.
Cooler evenings and the changing colors can be a signal for price drops on homes that listed earlier this summer. Some of those sellers are now more motivated to move as the end of the year approaches.
A price drop doesn’t mean there’s anything “wrong” with a particular property. Homes don’t always move on the first swing, sometimes because a home is initially priced just a smidge above its market value. Heck, some agents purposefully roll with a high asking price to start, then do incremental drops until that “sweet spot” buyer comes along.
We said this last week for the Hayden price-cut-a-palooza, and it’s worth repeating: Price drops on the market aren’t indicative of a market slowdown. The North Idaho real estate market continues to thrive, so don’t expect a pattern of overall price downturn anytime soon.
All the more reason for active buyers to jump on these opportunities.
This week we head a little north to Rathdrum and into Spirit Lake. Rathdrum continues to see some of North Idaho’s most significant growth. It helps to have some open space for new construction, which continues to be in demand for both locals and out-of-staters hoping to move to the Inland Northwest.
That trend can also be seen by the limited offerings for existing homes at the moment. Only a couple recent price drops were visible on the active MLS. But the homes we have are pretty enticing.
After a $10,000 price drop last week, an appealing “starter home” with just under 1,400 square feet and four (!) bedrooms in Prairie Estates comes in at $279,000. The listing description nails the appeal of living in Rathdrum — picturesque North Idaho atmosphere that’s close to both year-round outdoor activities and work/amenities in Post Falls, Coeur d’Alene and Spokane. Rathdrum in general qualifies as being part of the Spokane-Cd’A metro area without feeling like living in a metro area.
A larger option in town is a 1,600-square-foot home with four bedrooms, numerous upgrades and welcoming outdoor spaces is priced at $352,600, down $7,000 from last month.
Looking for an open slate to do your own thing? A 4-acre parcel located just outside the city limits is priced at $239,000, down $10,000 from last month. There’s a small home there already in need of some finishing, but it’s included in that low price, as well as some outbuildings on the property.
That’s basically it for Rathdrum price drops at the moment, but there are more deals to be made if you’re willing to head into the Spirit Lake area.
Priced now at just under $495,000 (down $4,000), a four-bedroom, 2,100-plus-square-foot home located eight miles from Rathdrum comes with 6 acres of treed land, as well as an additional office/guest building.
In the heart of Spirit Lake is a three-bedroom home with 1,400 square feet priced at $367,500 after a significant price drop. You’ll also find a three-bedroom, 1,250-square-foot manufactured home that doesn’t look at all like a manufactured home thanks to some nice upgrades and finishes. Price: $279,500, down $20,000 from its initial listing.
Stay tuned for more price-cut-a-palooza for other local communities this fall in Neighborhood of the Week.
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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.
