Kootenai County housing sales rise

COEUR d’ALENE — Sales of single-family homes in Kootenai County through November were up nearly 12% from a year ago.

According to the Coeur d'Alene Regional Realtors, 2,248 single-family homes have been sold, with the median home price at $526,066, a slight increase from last year.

The number of homes for sale, 905, is up 5.8%, from last year, but down 10.8% from 1,015 last month.

Houses are taking longer to sell. The CDARR reported the average days on the market rose to 95 this year, from 88 last year.

Real estate professionals have said mortgage interest rates of more than 6% have caused some buyers to pause looking for a new home and wait to see if rates fall.

The current average 30-year fixed mortgage interest rate is 6.73%, according to bankrate, while the average 30-year refinance interest rate is 6.75%. 

In Shoshone County, the median home price of $286,500 was down 4.5% from the same time last year, but the number of homes sold through November, 156, was up 2.6%. The number of residential listings, 98, was up nearly 20% from November 2023.

While Kootenai County home prices are holding steady, the Housing Solutions Partnership is asking the community to weigh in on a program that could fund home improvements to reduce barriers that prevent homeowners from sharing their space with others.

“Homeowners receive funds for upgrades that increase the equity in their home and local workers or students will have more affordable housing options," said Kiki Miller, Coeur d'Alene City Councilor and a founder of the Housing Solutions Partnership.

Dec. 20 is the deadline to respond to the partnership’s HomeShare Grant Program survey. The program is one of several innovative solutions the partnership is exploring to address a shortage of housing for local workers and students in Kootenai County.

If the survey finds there is enough interest, the grant program could provide homeowners with funds for construction or renovations, in exchange for sharing their home with a student or local worker for a set length of time, a press release said.

Info: www.housingni.org/homeshare-grant-program