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Kootenai County median housing price declines

| March 10, 2023 1:00 AM

COEUR d'ALENE - The median price for single-family homes in Kootenai County fell slightly to $511,000 in February. It was $525,000 in January.

The local housing market reached a median price of $559,000 in May, which was the highest of 2022.

The number of homes sold through February was 258, down 28.1% from February 2022, according to the Coeur d'Alene Regional Realtors.

Current active residential listings as of March 3 totaled 601, up from 192 from one year ago.

The average number of days on the market was 107, up 32% from February 2022, when the average number of days on the market was 81.

Rising interest rates have impacted the market.

According to bankrate.com, the current average interest rate for a 30-year fixed mortgage was 7.13% on Thursday, while a 15-year fixed refinance interest rate was 6.37%.

Two years ago, a 30-year mortgage interest rate was around 3%.

Local realtors say the housing North Idaho housing market remains solid, as people are continuing to look to move here.