North Idaho lakefront property is some of the most desired real estate in the Gem State. Lake Coeur d’Alene properties have the most million-dollar listings, according to a national real estate marketing group.
Lake Coeur d’Alene is responsible for nearly half of Idaho’s total lake real estate market, with more than $211 million in listings, according to LakeHomes.com, which tracks markets across 23 states.
More than half the waterfront homes on Lake Coeur d’Alene are listed at prices between $1 million and $2 million, and 26 percent of listings are priced above $2 million, LakeHomes.com data shows.
Lake Coeur d’Alene has 44 million-plus listings compared with 21 on Lake Pend Oreille and nine on Hayden Lake.
Listing prices are based on information gathered from multiple listing services across Idaho with a focus on the Panhandle, which boasts the state’s largest lakes and biggest waterfront markets.
The information gathered by LakeHomes.com is based on active listings last month, said company spokesperson Dezirae McGee.
“This is the first snapshot of what the market looked like this spring, going into summer,” McGee told The Business Journal of North Idaho.
Prices are expected to fluctuate as more properties are listed and demand changes.
“Sellers are pretty savvy and often hold off listing properties until more potential buyers are present,” McGee said. “Inventories and market prices might increase a little bit.”
The Panhandle’s top lakes also include Priest Lake with seven listings over $1 million. Fernan, Twin Lakes and Hauser each have one listing priced at $1 million or more.
With 60 percent of its listings marked over the million-dollar mark, Hayden Lake has the highest percentage of million dollar listings, while 37 percent of listings on Pend Oreille are priced over a million bucks.
Five percent of listings on Pend Oreille are priced under $250,000. Hayden has no listings under $250,000, and 1 percent of Lake Coeur d’Alene’s waterfront listings are under $250,000.
Ten percent of listings on Lake Coeur d’Alene fall between $250,000 and $500,000, compared to 25 percent on Pend Oreille and 13 percent on Hayden Lake, according to the company.
The total market value for the Panhandle’s top lakes is $445,389,468 — with Coeur d’Alene capturing more than 47 percent of the market share.
The average home price on Lake Pend Oreille is $1,944,582 compared to Lake Coeur d’Alene with a $1,731,597 average price. The average Priest Lake listing is $1,407,818, according to LakeHomes.com.