Kootenai home sales for past six months down 25 percent

A quarter fewer single-family homes sold in Kootenai County during the first half of 2008 compared to the same period last year – a clear snapshot of a slowed market.

But the decrease in sales - from 972 in 2007 to 734 this year – fell in line with sales declines since the market peaked in 2005, according to data furnished by the Coeur d’Alene Association of Realtors. In other words, that a few-dozen more sales than in 2001.

The Coeur d’Alene Multiple Listing Service recorded the average home sold for $226,423 during the first half of the year, a 5 percent decrease. The median declined 4 percent, reflecting drops in sales at both ends of the price spectrum.

The greatest percentage of sales decreases occurred in homes that cost more than $500,000 and in houses sold for less than $100,000.

The Coeur d’Alene and Dalton area saw a sales decline mirroring county numbers while experiencing little price slippage, according to the data.