As the summer months continue in Coeur d'Alene and Kootenai County, many have been inquiring as to to the current state of the real estate market. Since Black Rock Properties focuses on the fine home market in North Idaho, we categorize the fine homes, luxury properties and waterfront into two different sectors: Coeur d'Alene Homes & Waterfront Homes priced at $500,000 or more and Coeur d'Alene Vacant Land Waterfront Land priced at $100,000 or more.

Although interest rates continue to decline and set new records, the market has remained soft throughout 2010 when many brokers were hoping we would see a strong recovery. Relative to 2008 and 2009, we can see the luxury market is continuing to show signs of recovery with a continued increase of sales above $500,000. 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 in the Coeur d'Alene real estate market yet we don't believe it was as positive as many would have hoped for.

Here is a quick look at the numbers as of June 30, 2010 from the Coeur d'Alene Multiple Listing Service. Please note, however, that there is a degree of error with relying solely on the MLS statistics as some companies, such as ours, do not post all sales to the MLS and we rely solely on the word of the agent/broker involved in the transaction to report it accurately.

Coeur d'Alene Homes ($500,000+)

• Current Active Listings - 844
• Year-to-date Closed - 58
• Withdrawn of Cancelled - 148
• Likelihood of a sale with property in this price range - 5%-6%

Coeur d'Alene Homes ($1,000,000+)

• Current Active Listings - 267
• Year-to-date Closed - 14
• Likelihood of a sale with property in this price range - 3%-5%

Waterfront Land ($100,000+)

• Current Active Listings - 1,908
• Number Closed since January 1, 2010: 61
• Likelihood of a sale with property in this price range - 2%-3%

While the numbers are still very low, the trend is heading in the right direction. Vacant Land sales continue to lag due to increases in inventory and the fact that in most cases a buyer can purchase a built home for less than they can build it for. We think it is importnat to look at the "likelihood of a sale" number in each category as it really helps show the seller what you are faced with in the market. We will discuss this more in the near future as we attempt to learn why it is that number remains so low.

We expect the numbers to increase throughout the year as sales continue to rise from a year earlier; however, as a seller you can't expect things to get better overnight. The luxury, fine home and waterfront market is improving, yet there is still a significant amount of inventory on the market that is helping to keep values low. Values in areas of the lake that are in less desirable locations will continue to decrease slightly as we move into the fall and winter months and we believe prices will stabilize through 2010 and into 2011.

To search for 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!