Kootenai County home sales off to strong start
BILL BULEY | Hagadone News Network | UPDATED 17 hours, 11 minutes AGO
Bill Buley covers the city of Coeur d'Alene for the Coeur d’Alene Press. He has worked here since January 2020, after spending seven years on Kauai as editor-in-chief of The Garden Island newspaper. He enjoys running. | February 10, 2025 1:00 AM
Kootenai County home sales got off to a strong start in January.
The Coeur d'Alene Regional Realtors reported that 145 single-family homes sold in the first month of 2025, a 30% increase over January 2024.
The median home price in Kootenai County January, $528,000, was up 11.3% from the same time last year, while current active listings totaled 715, up 14% from one year ago, according to CRR.
In Shoshone County, 11 homes were sold in January, down 8% from one year ago. The median home price rose 16% to $270,000, while, there were 82 homes for sale, up 43% from 57 residential listings in January 2024.
The rise in sales in Kootenai County came despite mortgage interest rates near 7%.
According to bankrate.com, the current average interest rate for a 30-year fixed mortgage is 6.91%, while the average interest rate for a 30-year fixed refinance is 6.88%. The average 15-year refinance interest rate is 6.14%.
Idaho remains a magnet for new arrivals.
According to the 2024 North American Van Lines Annual Migration Report, Idaho was the top state for inbound migration in 2024, with 69% of moves being inbound.
"This is a testament to the state’s appeal for affordability, family-friendly communities, and a mild climate," wrote Theresa Bass, spokesperson for North American Van Lines, Inc.
Key findings in the report include:
• Idaho Tops the List: In 2024, Idaho was the No. 1 state for inbound migration, ahead of popular southern states like South Carolina and Tennessee.
• Top Outbound States: California, Illinois, Pennsylvania, New Jersey and Washington led outbound migration in 2024.
• Hybrid Work Impact: Cities like Boise are benefiting from the shift to hybrid work, combining strong job markets with a high quality of life.
• 2025 Relocation Outlook: 22% of Americans are considering relocation post-election, with 36% exploring international moves. Political and financial factors may contribute to an increase in state-to-state moves in 2025.
The report said mortgage rates and house prices remained high in 2024 and didn't come down from the 2023 numbers.
"Instead of waiting for the prices to decrease, many Americans decided where to move based on the current mortgage rates and housing trends," it said.
ARTICLES BY BILL BULEY
Snowpack declines in dry January
Drought conditions develop in Coeur d’Alene-St. Joe basins
Currently, 79% of Idaho lands are abnormally dry or are in drought, the report said. Drought conditions improved last month in western Idaho in response to the high snowpack percentages at the beginning of January. Drought conditions worsened in Shoshone, Lemhi, Custer, Butte and Blaine counties due to lack of precipitation in those areas.
Snowpack declines in dry January
Drought conditions develop in Coeur d’Alene-St. Joe basins
Currently, 79% of Idaho lands are abnormally dry or are in drought, the report said. Drought conditions improved last month in western Idaho in response to the high snowpack percentages at the beginning of January. Drought conditions worsened in Shoshone, Lemhi, Custer, Butte and Blaine counties due to lack of precipitation in those areas.
Kootenai County home sales off to strong start
Idaho tops for inbound movers
The median home price in January, $528,000, was up 11.3% from the same time last year, while current active listings totaled 715, up 14% from one year ago.