Real estate agents say the North Idaho market is one of the most competitive they have ever seen, partly due to people from out of state buying up land.
COEUR D’ALENE, Idaho — North Idaho is known for its lakes, mountains and miles of land. But out-of-state buyers are purchasing that open land at a record pace.
The real estate market is booming. This is excellent for sellers but awful for buyers.
“It’s really disheartening, you really think, ‘Am I ever going to be able to get into a home?'” asked former Idaho resident Shannon Davis. “I can’t afford to live here.”
The pandemic should have decreased the Panhandle’s housing prices or at least that’s what Davis thought. The market did the opposite.
“It’s just really depressing to not be able to have the finances to keep going up,” she added. “The price just keeps going up and up and up with competition.”
Davis moved to Spokane Valley, Washington, and is currently renting. She hopes to return to a city like Coeur d’Alene, Hayden or Post Falls soon.
“We’re looking at the lowest inventory that we’ve ever seen,” Haven Real Estate Group owner Cambria Henry said. “I just can’t get over the prices of these homes.”
Henry said the North Idaho market is the most competitive she has ever seen it.
There is one seller for every 15-20 buyers for their average priced homes. Even multi-million dollar homes have multiple offers, Henry added.
There are not even enough homes available to do a full evaluation of buyers to sellers ratio per price limit, like was shown in the Spokane market analysis.