C
oeur d'Alene's real estate market was discussed at the Hayden Chamber of Commerce luncheon, with Jennifer Smock from Windermere CDA highlighting the need for new construction in North Idaho. Despite a growing demand, there is still not enough inventory to meet it, she said.

    Smock noted that the demand for new homes has shifted towards northern communities like Rathdrum, which are less developed than Coeur d'Alene and surrounding areas. This shift is driving up prices significantly, with starter homes in Coeur d'Alene and nearby cities costing around $429,000 for 1,200-1,400 square feet.

    In contrast, similar homes in Rathdrum cost around $420,000. The median price for new construction has increased from $361,000 in 2020 to its current level. Meanwhile, the median resale value of single-family homes in Kootenai County is $567,000, with a "leveling off" trend observed over the past five years.

    Smock expressed concern that despite Kootenai County's high homeownership rate of 72%, younger first-time buyers are struggling to enter the market. The median age for first-time homebuyers is in their 40s, she said. The influx of people moving from California, Oregon, and Washington has driven up demand, with most newcomers settling in North Idaho due to its desirable quality of life.