What is the current real estate market climate in North Idaho?
As we spring forward, the market in Bonner and Boundary Counties is heating up! Compared to this time last year, median home prices have risen 7%, and 14% more residential units have been snapped up by buyers. While the renewed energy shows signs of brighter skies, sellers need to be more patient. On average, homes are taking one month longer to sell than the first quarter of 2024. Where’s the money coming from? 62% of home buyers this year have braved the mortgage rate storms and secured financing. 31% were cash closings and 5% of sellers financed their sale, reaping their rewards in the form of interest over time. For sellers who set the right price from the start or adjust their expectations, multiple offers are still on the radar - proving that buyers are ready to make it rain for the right deal. READ THE REST >>
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