Home prices rise in Kootenai County

COEUR d’ALENE — The median price of a single-family home in Kootenai County rose to $525,000, up slightly from a year ago, according to the May report from the Coeur d’Alene Regional Realtors.

The number of homes sold this year through May totaled 888, a 10% increase from the same time frame last year.

The Coeur d’Alene Regional Realtors reported that residential listings as of June 5 was 998, up from 957 in May 2023.

In Shoshone County, the median house price fell 7% to $281,200 in May, down from $303,000 a year ago.

The number of homes sold through May in Shoshone County totaled 60, nearly the same as 58 sold in the first five months of 2023.

Residential listings in Shoshone County, 93 as of June 5, were up about 15% from 78 for the same time frame last year.

Mortgage interest rates continue to limit what buyers can afford.

According to bankrate.com, the current average 30-year fixed mortgage interest rate was 7.03%, while the 15-year refinance interest rate was 6.60% on Friday.

"Interest rates are really holding the market back right now,” said Jennifer Smock, Windermere Coeur d’Alene Realty co-owner, in a recent presentation.