The Kootenai County housing market remains strong, according to the Coeur d'Alene Regional Realtors.

The median price of a single-family home in the county through October was $547,500, a 4.1% increase from a year ago, while the number of homes sold through October totaled 2,128, up 3.6% from the same time last year.

Current residential listings totaled 1,007 as of Nov. 5, down slightly from the previous year, the regional realtors reported.

The housing market in Shoshone County is also holding up well.

The median price of a single-family home was $295,000 through October, a 3.9% increase from last year, while the number of homes sold totaled 150, up 6.4% for the same time frame in 2024.

Jared McFarland, real estate agent with Century 21 Beutler and Associates, said the local market feels stronger than it was last year and the numbers show it.

"Homes that are priced well are selling quickly. Homes that are overpriced are just sitting there. And it seems to be a fine line," he said.

A listing might not be getting any showings or offers, but with a small price reduction, the listing begins to get several showings and offers, McFarland said.

"This is because buyers are very educated these days and know exactly what a home is worth," he said. "They won't waste their time with an overpriced listing, but they will move quickly on a well-priced listing."

McFarland said they are also starting to see more investor activity. Homes that would be considered "fixer-uppers" are selling quickly. 

"I believe that investors are buying these fixer-uppers with the idea that they'll spend the next couple months fixing them up and then sell in the spring," he said. "This is a sign that the investors are also confident in our local market and its future."

Mortgage interest rates continue to be a factor in home sales.

The current average 30-year fixed mortgage interest rate Tuesday was 6.35%, according to bankrate.com, while the average 30-year fixed refinance interest rate was 6.67%. Meanwhile, the average 15-year refinance interest rate was 6.07%.

McFarland said if buyers are thinking about buying in the next year or two, it would be wise to buy sooner rather than later. He said interest rates were recently at 5.5% for an FHA loan. 

"This is a great rate and much less of a barrier to entry than a 7%," he said. "I think that rates may dip as low as 5% in the next six months to a year, but with the potential of prices increasing next year, it's worth waiting for."