Neighborhood of the Week: High demand in Bonner County housing market

When it comes to the Bonner County real estate market, there’s more to the story than rising prices and limited inventory.

“A lot is happening under the radar,” said Jackie Suarez, a Realtor and associate broker for Century 21 RiverStone. “We’re seeing a lot of private sales. I’ve helped quite a few folks do that this year.”

Those looking to buy in Bonner County are generally looking for a more rural setting, Suarez said, as those buyers don’t necessarily need to be close to Coeur d’Alene or Spokane for work.

“A lot of my business here used to be 60-70 percent retired people, but now there are more who are not yet retired or have a retirement plan for 2-5 years out,” she said.

Remote work opportunities, coupled with improved high speed internet in rural areas, allow some to continue their careers away from higher-density communities, Suarez said.

Cash offers are more common, and buyers from Washington, California and elsewhere continue to fuel rising prices and inventory shortages. New construction is often scooped up as soon as they are made available.

“Many builders are not listing (new homes) until they are done because the costs are so volatile,” Suarez said.

Still, Bonner County remains a good deal for many buyers, especially those who don’t need to be near Interstate 90. The skiing and lake opportunities continue to attract outdoor-minded buyers.

Suarez said working with an agent experienced in the area will help buyers navigate the various market challenges.

“We do a lot of talking (to builders, sellers, etc.) before we see anything hit the market. You’ve just got to be plugged in,” she said.

Suarez shared some key stats on the recent market:

“Typically our winter market tends to focus on Schweitzer Mountain Resort and properties in or near the city of Sandpoint,” she said. “So far it’s been a great year for snow on the slopes, but we’re extremely low on dwellings to sell.”

There were three condos/townhomes for sale at Schweitzer across a wide price spectrum based on square feet. Another cabin recently for sale went under contract after just 11 days.

In Sandpoint, 12 homes were listed. At the nearby Dover Bay community, just five homes were listed, with two already under contract.

Saurez said the market has pushed what was perceived as “affordable” pricing to the edges of Bonner County — in Clark Fork and Priest River.

“One year ago, Clark Fork’s median residential sales price over six months was $322,500,” Suarez said. “This year, for the same period (July 1 to Jan. 11), it’s $449,000.”

In Priest River, the median residential sales price a year ago was $294,975, Suarez said. This year, for the same period (July 1 to Jan. 11), it’s $393,000.

For more information on the Bonner County market, contact Jackie Suarez, associate broker and Realtor, Century 21 RiverStone, at 208-290-5888 or visit http://www.JackieSuarez.com.

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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.