As we wrap up 2024, the housing market in North Idaho has experienced significant shifts that highlight the region's ongoing appeal. From Coeur d'Alene to Sandpoint, Post Falls, Rathdrum, Athol, and Hayden, each area has shown unique trends that offer insights for buyers, sellers, and investors. Let’s dive into the highlights of the year.

Coeur d'Alene: A Hub for Luxury Real Estate

Coeur d'Alene maintained its status as a premier destination for luxury real estate. High-end properties with lake views and modern amenities continued to command premium prices. Despite a national cooling of home prices in some markets, Coeur d'Alene’s luxury segment remained resilient, driven by demand from out-of-state buyers seeking the Idaho lifestyle. The median home price here saw a modest increase of around 3%, while inventory remained tight, particularly for waterfront properties.

Sandpoint: A Retreat for Nature Enthusiasts

Sandpoint’s real estate market has been shaped by its reputation as a haven for outdoor enthusiasts. Buyers flocked to the area for its proximity to Lake Pend Oreille and Schweitzer Mountain Resort. The median home price in Sandpoint rose by approximately 5%, reflecting increased demand for vacation homes and investment properties. Many buyers sought properties with acreage, emphasizing privacy and access to nature.

Post Falls: Growth and Affordability

Post Falls emerged as a hotspot for families and first-time buyers in 2024. The city’s affordability compared to Coeur d'Alene, combined with its rapid development, attracted a steady stream of residents. New construction played a significant role in meeting demand, with many developments offering modern, family-friendly amenities. Median home prices in Post Falls grew by 4%, making it a strong yet accessible market.

Rathdrum: A Hidden Gem

Rathdrum’s housing market gained traction this year as buyers sought quieter, more affordable alternatives to larger cities. With its small-town charm and easy access to Coeur d'Alene, Rathdrum appealed to retirees and families looking for more space. The median home price increased by about 6%, making it one of the faster-growing markets in the region. Inventory remained low, underscoring the area’s increasing desirability.

Athol: Rural Living with Modern Appeal

Athol continued to attract those looking for rural living without sacrificing proximity to amenities. Known for its expansive lots and peaceful atmosphere, the town saw increased interest from buyers moving away from urban centers. Properties near Farragut State Park were especially popular, and the median home price rose by 5%. Despite this growth, Athol remains one of the most affordable areas in North Idaho.

Hayden: Suburban Sophistication

Hayden offered a balanced market in 2024, appealing to families and retirees alike. Its suburban atmosphere, combined with proximity to Coeur d'Alene, made it a desirable location for those seeking modern amenities with a quieter pace of life. The median home price in Hayden increased by approximately 4%, with many buyers favoring properties near Hayden Lake or those with easy access to parks and recreation. Hayden’s mix of established neighborhoods and new developments ensured a variety of options for prospective homeowners.

Key Market Trends in 2024

1. Increased Out-of-State Buyers: North Idaho’s natural beauty and favorable tax environment kept it attractive to buyers from states like California and Washington.
2. Inventory Challenges: While new construction helped in some areas, inventory remained tight, driving competition for desirable properties.
3. Shift to Rural Living: More buyers sought homes in smaller towns like Rathdrum and Athol, emphasizing space, privacy, and lifestyle flexibility.
4. Vacation and Second Homes: Demand for vacation homes in areas like Sandpoint and Coeur d'Alene remained strong, particularly for properties offering access to water or mountain recreation.

Additional Market Insights

• Economic Growth: North Idaho’s continued economic expansion, particularly in tech and healthcare sectors, contributed to sustained housing demand. New job opportunities attracted a mix of young professionals and families.
• Interest Rates Impact: Rising interest rates in 2024 influenced buying patterns, with some buyers opting for adjustable-rate mortgages or waiting for rate stabilization. However, the overall demand for North Idaho’s housing market remained strong due to its unique lifestyle appeal.
• Sustainability Trends: Buyers increasingly sought energy-efficient homes and sustainable building materials. This trend was particularly noticeable in new construction projects around Post Falls and Hayden.
• Luxury Market Resilience: Despite a broader slowdown in luxury markets nationwide, North Idaho’s high-end properties continued to see strong interest, especially in Coeur d'Alene and Sandpoint, where unique natural surroundings added to the allure.
• Remote Work Influence: The rise of remote work allowed more buyers to relocate to scenic and affordable regions like North Idaho, driving demand across all market segments.

Looking Ahead

As we head into 2025, North Idaho’s real estate market shows no signs of losing its appeal. The region’s blend of natural beauty, outdoor activities, and a welcoming community will continue to attract buyers. While affordability challenges may persist in some areas, opportunities abound for those looking to invest in this thriving market.

Whether you’re considering buying, selling, or investing, staying informed about market trends is essential. At Lifestyle North Realty, we’re here to guide you through every step of your real estate journey. Contact us today to learn more about opportunities in Coeur d'Alene, Sandpoint, Post Falls, Rathdrum, Athol, and Hayden.