Local Real Estate Market Facts
| 01-CDA Urban/Dalton | 11.4% |
| Bonner Northeast | 9.7% |
| Shoshone County | 9.7% |
| 10 – Rockford/Windy Bay Area | 9.3% |
| 06 – NE Kootenal County | 6.6% |
| East Washington | 6.2% |
| 08 – CDA Rural-East | 5.9% |
| Bonner County | 4.9% |
| Kootenal County | 4.9% |
| 03-Hayden | 4.0% |
| 02-Post Falls | 2.1% |
| 04 – Rathdrum/Twin Lakes and 04a – Hauser Lake | 1.4% |
| Bonner West | 0.4% |
| 05 – NW Kootenal County | 0.0% |
| 09 – Chain Lakes/Harrison Area | 0.0% |
Property Tax Rankings on the 2023 State Business Tax Climate Index
Excerpt: Property taxes matter to businesses for several reasons. First, businesses own a significant amount of real property, and tax rates on commercial property are often higher than the rates on comparable residential property. Many states and localities also levy taxes not only on the land and buildings a business owns but also on tangible property, such as machinery, equipment, and office furniture, as well as intangible property like patents and trademarks. Across the nation, property taxes impose one of the most substantial state and local tax burdens that businesses face. In fiscal year 2021, taxes on real, personal, and utility property accounted for almost 39 percent of all taxes paid by businesses to state and local governments, according to the Council on State Taxation.
States are in a better position to attract business investment when they maintain competitive real property tax rates and avoid harmful taxes on tangible personal property, intangible property, wealth, and asset transfers. This year, the states with the best scores on the property tax component are Indiana, New Mexico, Idaho, Delaware, and Nevada. States with the worst scores on this component are Connecticut, New York, Vermont, Maine, Massachusetts, and New Jersey, plus the District of Columbia.
Source: TaxFoundation.org
| 2020 | 2021 | 2022 | 2023 | 2024 | Change from 2023 | Change from 2020 | |
|---|---|---|---|---|---|---|---|
| 01-CDA Urban/Dalton | $385,000 | $520,000 | $575,000 | $555,000 | $575,000 | + 3.6% | + 49.4% |
| 02-Post Falls | $340,200 | $458,500 | $525,000 | $494,113 | $510,000 | + 3.2% | + 49.9% |
| 03-Hayden | $425,000 | $567,500 | $625,000 | $615,000 | $578,500 | – 5.9% | + 36.1% |
| 04 – Rathdrum/Twin Lakes and 04a – Hauser Lake | $340,000 | $475,000 | $554,230 | $524,149 | $504,990 | – 3.7% | + 48.5% |
| 05 – NW Kootenai County | $340,000 | $518,000 | $535,000 | $560,000 | $465,730 | – 16.8% | + 37.0% |
| 06 – NE Kootenai County | $450,000 | $612,250 | $677,500 | $775,000 | $775,000 | 0.0% | + 72.2% |
| 08 – CDA Rural-East | $700,000 | $895,000 | $1,385,000 | $1,125,000 | $1,072,500 | – 4.7% | + 53.2% |
| 09 – Chain Lakes/Harrison Area | $373,000 | $522,500 | $519,950 | $523,000 | $499,500 | – 4.5% | + 33.9% |
| 10 – Rockford/Windy Bay Area | $699,500 | $885,000 | $1,100,000 | $1,200,000 | $900,000 | – 25.0% | + 28.7% |
| 11 – CDA Rural-West | $809,000 | $1,200,000 | $1,656,000 | $910,000 | $1,525,000 | + 67.6% | + 88.5% |
| Benewah County | $219,900 | $284,000 | $347,500 | $293,450 | $302,000 | + 2.9% | + 37.3% |
| Bonner County | $399,000 | $550,000 | $583,875 | $585,000 | $595,000 | + 1.7% | + 49.1% |
| Bonner Northeast | $395,000 | $595,829 | $587,500 | $605,000 | $635,000 | + 5.0% | + 60.8% |
| Bonner Southcentral | $401,000 | $547,950 | $605,000 | $560,000 | $588,500 | + 5.1% | + 46.8% |
| Bonner Southeast | $450,000 | $600,000 | $712,000 | $650,000 | $730,000 | + 12.3% | + 62.2% |
| Bonner West | $389,500 | $501,805 | $538,500 | $525,000 | $525,000 | 0.0% | + 34.8% |
| Boundary County | $305,000 | $384,500 | $444,500 | $444,000 | $425,000 | – 4.3% | + 39.3% |
| East Washington | $357,700 | $439,900 | $470,000 | $442,500 | $549,900 | + 24.3% | + 53.7% |
| Kootenai County | $375,020 | $501,000 | $575,000 | $550,000 | $549,265 | – 0.1% | + 46.5% |
| Shoshone County | $172,250 | $245,000 | $280,000 | $299,500 | $280,000 | – 6.5% | + 62.6% |
Source: Coeur d’Alene MLS
Temperatures are heating up, yet the U.S. housing market remains cooler than usual for this time of year due to a combination of low inventory and higher borrowing costs, which have restricted market activity going into the summer homebuying season. According to the latest data from the National Association of REALTORS® (NAR), national existing-home sales climbed 0.2% from the previous month but were down 20.4% compared to the same time last year, as fluctuating mortgage rates and a near all-time low level of inventory continue to influence home sales. New Listings decreased 23.6 percent for New Construction homes and 20.5 percent for Previously Owned homes. Pending Sales increased 91.2 percent for New Construction homes and 25.8 percent for Previously Owned homes. Inventory increased 48.8 percent for New Construction homes but decreased 5.3 percent for Previously Owned homes. Median Sales Price decreased 24.0 percent to $543,675 for New Construction homes and 9.6 percent to $519,500 for Previously Owned homes. Days on Market increased 15.3 percent for New Construction homes and 31.4 percent for Previously Owned homes. Months Supply of Inventory increased 51.5 percent for New Construction homes and 23.5 percent for Previously Owned homes. Nationwide, total housing inventory increased 3.8% from the previous month, for a 3-month’s supply at the current sales pace. The shortage of homes for sale has kept prices high for remaining buyers, with a national median sales price of $396,100 as of last measure, a 3.1% decline from the same time last year and the largest annual decrease since December 2011, according to NAR. As demand continues to outpace supply, properties are selling quickly, with the majority of homes listed for sale on the market for less than a month.
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