Coeur d'Alene Waterfront Market Update for Q1 2010

Posted on April 26th, 2010 in Coeur d'Alene News

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coeurdaleneboatSince the release of the March New Home Sales Numbers on Friday, many buyers have inquired about an update on the waterfront activity in Coeur d'Alene. Since Black Rock Properties focuses on the fine home market in North Idaho, we categorize the waterfront into two different sectors: Waterfront Homes $500,000 plus and Waterfront Land $95,000 plus.

Like the New Home numbers, the luxury waterfront market in North Idaho has also seen a sharp increase pending and closed home sales. While it is still very early in the season in Coeur d'Alene, compared to 2009, things are starting to improve dramatically. Substantial price decreases over the last two years, along with buyers recognizing the value of being on the waterfront of Lake Coeur d'Alene compared to other parts of the country, has helped spur some positive activity.

Here is a quick look at the numbers as of March 31, 2010:

Waterfront Homes ($500,000+)

  • Current Active Listings - 251
  • Number of Pending Sales - 10
  • Number Closed in March 2010 - 1
  • Year-to-date Closed - 8
  • Year-to-date 2009 Closed - 5
  • Year-to-date % Change - +60%

Waterfront Land ($95,000+)

  • Current Active Listings - 215
  • Number of Pending Sales - 1
  • Number Closed in March 2010 - 2
  • Year-to-date Closed - 2
  • Year-to-date 2009 Closed - 1
  • Year-to-date % Change - +100%

While the numbers are still very low, the trend is heading in the right direction. Vacant Land sales continue to lag since buyers in most cases can purchase a built product on the water for less than they can build it for. Furthermore, with over 200 listings in each category, there are plenty of listings for buyers to choose from.

We expect the numbers to increase throughout the year as sales continue to rise from a year earlier. We will have a better understanding of the waterfront market in Coeur d'Alene come August when typically the most number of closing occur.

To find out about Waterfront Homes for Sale in Coeur d'Alene or Waterfront Land for Sale in Coeur d'Alene, contact a Black Rock Properties Sales Professional Today!