Neighborhood of the Week: Summer sales — Cruising Ramsey in Coeur d’Alene
With drastic interest rate increases and economic uncertainty abound, the local real estate market is responding to potential market changes.
North Idaho remains one of the more active regions in the entire country for home sales. As discussed last week, however, there have been a few noticeable adjustments. Unlike recent springs and summers, a larger number of price cuts have popped up in recent weeks, creating a few more opportunities for active buyers.
Readers of The Press’ “Price-cut-a-palooza” in the fall know the speech I’m about to spout — a price cut on the home is rarely because of anything wrong with the property. In some cases, the opening price was just a little too high above its actual value. In other cases, agents price a home high to gauge interest before dropping down into a “sweet spot,” dealmaking price point.
For this week, we’re looking at one of the more high-demand locales in all of the Inland Northwest — centrally located Coeur d’Alene, and specifically the stretch of family-friendly neighborhoods north of Interstate 90 and west of Highway 95. Basically we’re riding Ramsey Road from the golf course all the way up to the Coeur d'Alene-Hayden line at Prairie Avenue.
Near Ramsey Park, a four-bedroom, almost 3,000-square-foot home in Fairway Hills dropped $19K late last month to just under $760,000. In that same general area but east of Ramsey is a three-bedroom, almost 1,800-square-foot home in a 55+ community now priced just under $600,000 (after a $50,000 price cut in early June).
Back to the west side of Ramsey and closer to Kathleen Avenue are two more homes with recent price cuts — a four-bedroom, 2,000-plus-square-foot home (with a new roof!) in Fairway Forest at just under $690,000, down $6,000. Near that is a three-bedroom, 1,300-plus-square-foot home down $25K recently to $475,000.
Prices too high for you? We’ve got options galore in the manufactured home realm north of Kathleen. A two-bedroom, 900-square-foot home is recently down $20K to $130,000. Another similarly-sized home is down $4K to $146,000. There’s a three-bedroom, 1,000-square-foot home down more than $40K to $179,000, a three-bedroom, 1,050-square-foot home down $15K to $200,000, and the lowest price manufactured home option in the area is a two-bedroom, 900-square-foot home down $7,000 to $110,000.
Near Dalton Avenue a three-bedroom, 1,500-square-foot home is down more than $25K to just under $500,000. Nearby, a three-bedroom, almost 1,400-square-foot home is down $8K to $475,000.
How about some bigger options near Bluegrass Park? Check out the five-bedroom, almost 2,700-square-foot home down $47K recently to just under $600,000. Close by you’ll find a four-bedroom, 2,500-square-foot home down $30K to just under $520,000.
Closer to Prairie Avenue, in and around the Sunshine Meadows neighborhood, you’ve got three more price cuts — a three-bedroom, 1,450-square-foot home at $540,000 (down $10K), a three-bedroom, almost 1,700-square-foot new construction home with a $10K drop to $649,000, and a four-bedroom, 2,800-plus-square-foot home near Sunshine Meadows park priced at $695,000 (down $25K).
Stay tuned for more summer sales around North Idaho in a future installment of Neighborhood of the Week.
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Let us know about story ideas, standout neighborhoods and developments that we may feature in an upcoming Neighborhood of the Week. Contact Tyler Wilson at twilson@cdapress.com.
Attention Real Estate Agents! Take advantage of Neighborhood of the Week by sending in your suggestions for featured areas, including sites outside the normal confines of Coeur d’Alene, Post Falls, Hayden and Rathdrum.
