Luxury Home Sales Bounce Back!
After a near-disastrous 2009, the luxury market appears to be making a comeback, driven by growing buyer confidence, improved financing conditions and more-realistic seller pricing. Despite the housing downturn, attractively priced homes in some of the nation's most coveted neighborhoods are selling, sometimes fast and sometimes with multiple offers. Nationwide, sales of homes selling for $2 million to $5 million in the first quarter totaled 2,461, up 32% from a year before.
In Coeur d'Alene, sales of $1 million homes tend to come in the mid to late summer months when second home buyers have come back to the market to rid themselves of the desert heat or southwest humidity. So only time will tell if this trend seen around the nation holds up for the Coeur d'Alene real estate market.