January 30, 2009

Kootenai Co. home sales fall in 2008

The Spokesman-Review
 

Attracting buyers was more difficult last year for Kootenai County residents who had their homes for sale.

The number of homes sold in the county fell by 22 percent in 2008, according to the Coeur d’Alene Multiple Listing Service. The service reported 1,492 home sales last year, compared to 1,918 in 2007.

Home prices, however, experienced modest drops compared to other parts of the country.

The average sales price for a home in Kootenai County was $225,114 last year, a 6 percent decline from 2007.

The median price was $192,000, a 5 percent drop from 2007. Median price means half the homes sold for more and half sold for less.

New construction represented 25 percent of home sales in the county in 2008.

Median sales prices, by community, were $195,000 in Coeur d’Alene/Dalton; $180,736 in Post Falls; $225,622 in Hayden; and $178,000 in Rathdrum/Twin Lakes.

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