Winter 2017 North Idaho Home Price Update

Real Estate

Friends, Clients, and Acquaintances-

If you or someone you know have been considering selling your home, then this time of year represents an incredible opportunity.

First, home prices have hit record highs over the past few months.  In fact, home prices are now higher than they were in 2006, at the peak of the housing bubble.  In spite of this, the current market is NOT experiencing the bubble like we saw 10 years ago.  Instead, today’s high prices are mostly driven by lack of supply.  Low supply results in high demand and higher prices. That’s why – if you are looking to sell your home – you are in such a good position right now.

Second, we are still seeing historically low interest rates, but they have been rising for nearly a year and are expected to continue to rise…. it’s clear why so many home buyers are eager to take advantage of the current rates now.  Small increases in interest rates can significantly impact the amount buyers can pay for their home….a small increase in rates means a buyer can pay less for your home.

Third, we’ve made it to the end of the election cycle.  Many people were sitting on the sidelines because of the election and associated uncertainty.  They are now re-entering the market….and this will keep demand healthy in the coming months.  The forecast for Spring/Summer of 2017 is strong.

Fourth, we tend to have a seasonal real estate market in North Idaho with nearly 70% of the sales happening between the months of April to October.  People are already actively viewing our listings on the internet to find their next home they can move into this spring or summer.  To take advantage of this, you have to get moving.

To get started, Enter your address here to find out what your home is worth.  This is a great start and after you have reviewed this initial report we can discuss further the unique characteristics of your home that may make it worth even more.

If you have any further questions about how you can take advantage of this market, simple call or email us using the information below.

Have a Wonderful Day,

The Fox Real Estate Team

Keller Williams Coeur d Alene Realty

1450 Northwest Blvd, Ste 301

Coeur d Alene, ID  83814

(208) 704-1723