With spring upon us we are starting to see increased activity in the housing market. More and more inventory is becoming available daily and now would be a perfect time to take advantage of the number of homes to choose from if you are in a position to buy.
Already I am seeing more activity in the market. The average home price for March was $244,090 and the median price was $195,597. 2005 appreciation was 29.88%. 2006 predicted slower appreciation, but definitely on an upward cycle. According to the latest housing price forcast from Fiserv Lending Solutions, The Coeur d'Alene area is # 2 amoung 379 Markets and prices will continue to rise 12.8% from 2005.
Inventory levels for the number of active listings over the last 18 months shows an increase of 55% for all listing types from Mar 2005 to Mar 2006 .There is a 3% increase in inventory levels for all listing types from Feb 2006 to Mar 2006. Residential inventory shows a 4% increase from Feb 2006 to Mar 2006. There is a 75% increase in residential inventory levels from Mar 2005 to Mar 2006.
Again things are picking up; however, it's not last Spring when one could stick a For Sale sign in the ground and get multiple offers within a day. Fair market value means that your house is priced from a Comparative Market Analysis (CMA) using at least 3 comparable properties SOLD within the past 3 months- ideally. An over priced home is not selling. Also keep in mind Days On Market are increasing and you are not seeing that quick turn-around like last year.
If you are new to the area, Coeur d' Alene is definitely a place for people who love to play in the outdoors. With city beaches, parks, boating, fishing, hiking, picnicking, golf, skiing and just about any other outdoor activity you can think of Coeur d' Alene has everything a person could want in a community. It's a wonderful place to live and raise your family.CONTACT ME FOR MORE INFORMATION ON NORTH IDAHO!
