If you’re considering buying a home in North Idaho, now could be an ideal time. With more homes available on the market than in recent years, the dynamics in this region are shifting in favor of buyers. Let's dive into what this means for North Idaho, where unique factors like scenic beauty, small-town charm, and a growing population make the real estate market especially interesting. Here are two key reasons why this could be a game-changer for potential buyers in this area. 1. More Housing Options to Choose From in North Idaho The inventory of homes for sale in the U.S. has been growing, and North Idaho is no exception. According to recent data from Realtor.com, the number of homes on the market increased significantly in 2023, with 29.2% more active listings on a typical day in October compared to the same time last year. This marks the highest count since December 2019 and signals a shift toward a more balanced market. In North Idaho, where the housing market has been exceptionally tight due to a mix of high demand and limited supply, this increase in inventory means that buyers have a wider selection of homes to choose from. This is especially beneficial in popular areas like Coeur d'Alene, Post Falls, and Sandpoint, which have seen significant demand from both local and out-of-state buyers in recent years. While the number of homes on the market still hasn’t fully returned to pre-pandemic levels, the growth in inventory is a positive sign. It offers buyers in North Idaho more flexibility, as there’s a greater chance of finding a property that meets their needs, whether it's a lakefront property, a mountain-view cabin, or a family home in town. Hannah Jones, Senior Economic Research Analyst at Realtor.com, highlights this shift: “Though still lower than pre-pandemic, burgeoning home supply means buyers have more options…” For North Idaho, which has been characterized by competitive bidding wars and limited inventory, this growing supply provides much-needed relief. In practical terms, this means buyers might feel less pressure to rush into a decision, knowing that more homes are likely to come onto the market in the coming months. And with fewer bidding wars, buyers are more likely to secure a home that fits their needs, lifestyle, and budget without as much stress. North Idaho’s diverse options—from rural retreats to bustling community neighborhoods—make it a unique region where more options mean a better chance of finding a home that aligns with your ideal lifestyle. Number of Homes for Sale on the Rise in North Idaho   2. Home Price Growth Is Slowing Another important trend that could benefit North Idaho homebuyers is the slowdown in home price growth. In the past few years, limited inventory drove home prices up as buyers competed for the few homes available. However, as inventory grows, this competition is easing, and home prices are starting to stabilize in many areas. In some markets, prices are beginning to reflect pre-pandemic trends, which could soon be the case in North Idaho. Lance Lambert, Co-Founder of ResiClub, points out: “Generally speaking, housing markets where active inventory has returned to pre-pandemic 2019 levels have seen home price growth soften or even decline outright from their 2022 peak.” North Idaho may be on the verge of a similar shift, particularly as the region’s inventory rises and more options come onto the market. For areas like Coeur d'Alene, known for its natural beauty and appeal to retirees and remote workers, this could mean more affordable price points for buyers. According to Dr. Anju Vajja, Deputy Director at the Federal Housing Finance Agency (FHFA), the slowdown in price growth has been consistent for three months in a row, suggesting a national trend toward stabilized prices. “Relatively flat house prices may improve housing affordability,” Dr. Vajja explains. In North Idaho, where affordability has been a growing concern, this trend could open doors for more potential buyers, allowing them to find homes that fit their budget in desirable locations. North Idaho Home Price Growth is Moderate   Navigating North Idaho’s Real Estate Market with a Local Agent Because real estate trends vary by region, a knowledgeable North Idaho real estate agent can make a significant difference. Each community within North Idaho has its own nuances: Coeur d’Alene is popular for lakefront properties, Post Falls offers suburban appeal, and Sandpoint is celebrated for its proximity to Schweitzer Mountain Resort. A local agent can provide insight into these micro-markets, helping you understand the unique advantages and challenges in each area. Moreover, as seasonal demand fluctuates, North Idaho’s market can have particular rhythms influenced by tourism, vacation home sales, and year-round outdoor activities. Agents familiar with these patterns can guide you on the best times to buy and help you make informed decisions about the neighborhoods that align best with your lifestyle goals, whether you’re looking for outdoor adventures, quiet living, or investment potential. Exciting Possibilities for North Idaho Homebuyers In North Idaho, more housing options and a slower pace of price growth are opening up exciting possibilities for homebuyers. If you’re ready to explore the opportunities this market shift brings, reach out to one of our local real estate agents and we can help you navigate these changes and find a property that fits both your budget and lifestyle. With the scenic landscapes, friendly communities, and now a more favorable housing market, North Idaho could be the ideal place to make your next home purchase a reality.

Pricing a home correctly is critical, and in North Idaho’s unique real estate market, it’s even more important to set the right asking price from the start. Homeowners often think the biggest challenge in selling is finding buyers, but according to recent insights, the hardest part is determining the right price. Here’s why setting the correct price is so essential—and how a skilled agent can help you navigate the nuances of the North Idaho market. Most Challenging Task is Setting Price   The Importance of Accurate Pricing Pricing your home too high or too low can lead to unwanted consequences. Overpricing can scare off potential buyers, causing the home to sit on the market and eventually require a price reduction. Buyers might assume that something’s wrong if a home is underpriced, potentially limiting offers and reducing your overall profit. In North Idaho, where the market can fluctuate seasonally and is influenced by factors like local tourism and population growth, pricing accurately is vital to attract serious buyers. A home priced at market value is more likely to generate multiple offers and sell faster—an advantage in a competitive market. Why Getting the Price Right is Important   Why a Local Real Estate Agent is Key A North Idaho real estate agent has specific expertise in the region, from understanding seasonal buyer demand to knowing neighborhood-level price trends. They can evaluate comparable properties in your area, gauge the local economic landscape, and provide insights into what buyers are looking for. This guidance can be invaluable, especially in the North Idaho market where housing demand and prices have been particularly dynamic in recent years. Agents also help navigate other challenges like marketing the home effectively and understanding legal requirements. By setting a compelling price based on local data and market trends, an agent ensures your home doesn’t just attract buyers but also stands out in the crowd. How a local North Idaho Real Estate Agent Can help   Connect with a North Idaho Real Estate Agent If you’re thinking about selling, connect with a North Idaho real estate professional. Their knowledge of the area can help you price your home to attract buyers and sell quickly, maximizing your investment in today’s competitive market. In North Idaho, the right price is your best tool for a successful sale. Whether in Coeur d’Alene, Sandpoint, Bonners Ferry, St Maries or the surrounding areas, a knowledgeable agent is your key to setting the perfect asking price for your home. Sources & Data Compiled from: John Burns Research & Consulting, Bankrate

Presidential elections bring uncertainty, and their influence on the housing market is often noticeable. North Idaho, with its growing popularity for homebuyers seeking scenic surroundings and a high quality of life, is likely to experience similar patterns. Here’s how elections could shape North Idaho’s real estate market based on historical data and trends. 1. Do Elections Slow Down the Housing Market? Does an election slow down the North Idaho housing market? Generally, home sales decrease from October to November as the market enters its seasonal lull, but the decline is more significant in an election year. In a typical year, sales drop by about 9.8%, while in an election year, that drop increases to 15%. This trend reflects the uncertainty many buyers and sellers feel as they wait for post-election economic clarity. In North Idaho, where interest in real estate has grown significantly, many potential first-time buyers may delay purchases until after election results are settled. This year, around 23% of first-time buyers nationwide plan to wait until after the election to buy—a trend that may echo in North Idaho, where affordability and interest rates remain primary concerns. 2. Do More Homes Sell After an Election? Do more homes sell after an election? Yes, home sales historically bounce back after elections, with sales rising in 82% of post-election years. This could be beneficial for the North Idaho market, where demand is often high due to the region's appeal to remote workers, retirees, and those seeking a quieter lifestyle. Experts predict national home sales will increase from 4.6 million in 2024 to 5.2 million in 2025, suggesting that North Idaho could also see an uptick in activity, particularly from out-of-state buyers. For North Idaho sellers, this trend might mean a busier and more competitive market in the months following the election, as buyers regain confidence and make their moves. North Idaho real estate agents often see increased demand from buyers ready to invest in the area’s appealing lifestyle, which may lead to more competitive offers in early 2025. 3. What Happens to Mortgage Rates During Election Years? What happens to mortgage rates in an election year? Mortgage rates typically decline in election years, especially from July through November. In fact, rates have decreased 72% of the time during these months in previous election years. This year, rates have been volatile, with some drops as low as 6.08% in September—a potential relief for buyers. However, recent fluctuations, with rates previously nearing 8%, have affected affordability, especially in high-demand markets like North Idaho. For North Idaho, any easing in mortgage rates could be especially helpful, as rising interest rates have limited affordability for some buyers in the region. Lower rates could open up more buying opportunities, allowing prospective homeowners to make offers on homes in desirable locations like Coeur d’Alene, Sandpoint, and other scenic areas. 4. What Happens to North Idaho Home Prices After an Election? What happens to North Idaho home prices after an election? Historically, home prices tend to increase in the year following an election, rising 88% of the time. Experts project a 2.5% national home price increase in 2025, which could signal a similar trend for North Idaho. The area has been experiencing price growth due to high demand and limited inventory, and a post-election boost in home prices could further this trend. If prices rise, North Idaho homeowners may gain additional equity, while buyers might face steeper prices in 2025. For buyers, this means it might be wise to act sooner rather than later if they’re considering a move to North Idaho, especially if they want to capitalize on potentially lower mortgage rates and current home prices before they climb. Key Takeaway for North Idaho’s Real Estate Market While presidential elections can introduce temporary uncertainty, they typically don’t have lasting impacts on the housing market. North Idaho’s unique appeal, growing interest from out-of-state buyers, and attractive lifestyle offerings mean that local market conditions may still drive demand, regardless of national election cycles. For prospective buyers, the months following the election may bring more opportunities, while sellers may see renewed activity and competitive offers. Keeping an eye on mortgage rate trends and market dynamics will be essential for anyone planning to buy or sell in North Idaho in 2024 and beyond. Final Thoughts for the North Idaho Real Estate Market Presidential elections often bring a short-lived slowdown, but historical trends suggest that the North Idaho housing market will rebound. If you’re considering buying or selling in the area, it’s essential to stay informed about interest rates, economic shifts, and local trends that can impact your decision. Ultimately, North Idaho’s market is driven by more than national events; the region’s unique qualities and lifestyle appeal will continue to draw demand, election year or not. Source: Data compiled from BTIG, Fannie Mae, Freddie Mac, NAR, Redfin, ResiClub, and others.