There are signs of recovery in the local real estate market.

The inventory of homes on the market is down about 13 percent compared to this time last year, a positive indicator of rebounding activity, agents say.

"If you poll most of the full-time agents, they'll say there's been a tremendous uptick in the market," said Joel Elgee of Coldwell Banker Schneidmiller Realty. "We're seeing a lot of investor activity out there."

Elgee said he recently had 17 offers on a bank-owned foreclosure.

According to a recent report by Windermere Coeur d'Alene Realty, there were 825 total residential sales in all of Kootenai County from Jan. 1 through May 31. The median sales price for the time period was $154,000 and the average days on the market was 130.

The number of single-family home sales in Kootenai County are down 15 percent compared to this time last year, while the median price has dropped 8 percent from $160,000 to $146,500, according the Coeur d'Alene Multiple Listing Service.

Agents note, however, that last year's sale numbers were inflated by a one-time tax credit that has expired.

"We saw a big dip in demand after the tax credit expired," Elgee said, adding that conditions in the marketplace are now more normal. "I see the second half of 2011 blowing the second half of 2010 out of the water (as far as an improving market).

"I think we're headed toward recovery, even though the statistics say there's still market suppression."

While distressed properties have been a force with both a share of the market and in setting the price during the recession, agents said the inventory is getting cleared out.

"The good news is that between investors and generally first-time buyers the distressed homes in good condition are selling," said Pete Faust of Century 21 Beutler and Associates.

New construction housing accounted for 10.6 percent of single-family sales so far in 2011 compared to 15.5 percent at this time in 2010, according to the MLS.

The median price for a home in Coeur d'Alene dropped 10 percent to $144,600 compared to last year. It also dropped 10 percent in Post Falls to $143,000 and decreased 6 percent in Hayden to $167,310. The price remains unchanged in Rathdrum/Twin Lakes around $141,000.

Of the sales in May, 68 percent were on homes priced at $200,000 or less.