Median home price rises in Kootenai County

The median home price of a single-family home in Kootenai County rose to $546,782 in August, according to the Coeur d'Alene Regional Realtors.

The number of homes sold for the year through August totaled 1,628, a 2.3% increase over a year ago, while the number of residential listings was 1,190 on Thursday, up nearly 2% from last year.

Overall, it continues to be a solid housing market, said Jared McFarland, real estate agent with Century 21 Beutler and Associates.

"Even post Labor Day I have had quite a bit of buyer activity on my listings and a couple of my listings get accepted offers," he said.

But as winter draws closer, there are normally some price reductions and a drop in inventory.

"I have noticed listings dropping their price recently," McFarland said.

In Shoshone County, the median price of a single-family home in August was $295,000, a 5.4% increase from one year ago. The number of homes sold through August totaled 124, up nearly 20% from last year, while active residential listings were 109, nearly the same as August 2024.

Mortgage interest continues to play a role in the market.

The current average 30-year fixed mortgage interest rate was 6.48% on Friday, according to bankrate.com, while the average 15-year refinance interest rate was 6.01%.

People also keep moving to Idaho, thanks to reports like a recent WalletHub survey that said the Gem State is the second-best state to live in. Massachusetts was No. 1.

It described Idaho as "boasting one of the lowest median real estate tax rates in the country, at just 0.5%, along with the seventh-highest homeownership rate. It also has the fourth-lowest tax rates overall and the highest median household income growth, making it a great place to build and grow wealth.

"In addition, the Gem State has the seventh-lowest share of urban interstates experiencing congestion during peak hours and the third-smallest proportion of major roads in poor or mediocre condition. This naturally leads to some of the lowest average commute times in the country," according to WalletHub. "To top things off, Idaho is a pretty safe state. It has the 13th-lowest violent crime rate and the lowest property crime rate in the country."