America's top property hotspot is lakeside city Coeur d'Alene in Idaho where average home prices rose nearly 47% in a year to $476,000 thanks to remote workers flooding in
- Lakeside city of Coeur d’Alene sits on shores of the 30-mile Lake Coeur d’Alene
- The Idaho city's median sales price for a home rose by 47% to $476,000 over the last year has been ranked No. 1 on a new emerging housing market index
- Coeur d’Alene is known for its vibrant downtown and abundant recreational activities including outdoor trails, golfing and water activities
- After Coeur d’Alene, Idaho, Austin and Round Rock, Texas tied for the No. 2 spot
- Springfield, Ohio, came in third, Billings, Montana, was fourth, and Spokane and Spokane Valley, Washington, rounded out the top five
A lakeside city in Idaho where the median sales price for a home rose by 47 per cent to $476,000 over the last year has been ranked No. 1 on a new emerging housing market index.
The Idaho city of Coeur d’Alene sits on the shores of the 30-mile Lake Coeur d’Alene.
Coeur d’Alene is known for its vibrant downtown and abundant recreational activities including outdoor trails, golfing and water activities.
The city's attractive lifestyle and amenities are likely what caused it to claim the top spot on the Wall Street Journal/realtor.com Emerging Housing Markets Index's list.
The lakeside city of Coeur d’Alene, Idaho, where the median sales price for a home rose by 47 per cent to $476,000 over the last year has been ranked No. 1 on a new emerging housing market index
The Idaho city of Coeur d’Alene sits on the shores of the 30-mile Lake Coeur d’Alene (pictured)
A total of 67 homes (two pictured) were sold for $1million or more in the first two months of this year. That number represents a significant increase in sales compared to just 12 homes purchased around the same time in 2020
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The inaugural ranking included data for the 300 largest metropolitan areas in the US.
After Coeur d’Alene, Idaho, Austin and Round Rock, Texas tied for the No. 2 spot.
Springfield, Ohio, came in third, Billings, Montana, was fourth, and Spokane and Spokane Valley, Washington, rounded out the top five.
According to the Journal, the influx of buyers to Coeur d’Alene are coming from other western states like Washington and California, where home ownership can be more expensive.
According to Realtor.com, about 70 per cent of page views on Coeur d’Alene property listings came from outside the state, up from 66 per cent last year.
And since several companies have offered the option to work from home, finding a residence in Coeur d’Alene has become challenging, as many seek to relocate.
According to the Journal, 67 homes were sold for $1million or more in the first two months of this year.
That number represents a significant increase in sales compared to just 12 homes purchased around the same time in 2020.
The picturesque city, which has a population of about 166,000, has an inventory of just 337 homes for sale.
'That’s not enough to go around—therefore, every listing gets 30 offers,” Kristen Johnson, a real-estate agent at Century 21 Beutler & Associates in Coeur d’Alene told the Journal.
'Since the pandemic, our market has been crazy,' she added.
The Journal also reported that the median sales in Coeur d’Alene rose in March to $476,900, up 47 per cent increase from last year.
The city has a small-town feel while also serving as a tourist area with its access to outdoor activities, such as skiing and water sports.
According to the market index, the top 10 housing markets have seen home prices appreciate by 27 per cent on average in the last year, compared to an average of 14 per cent across all markets.
The data shows that the next top 10 housing markets to watch are Burlington, NC; Akron, OH; Eureka, Arcata, Fortuna, CA; Appleton, WI; Modesto, CA; Prescott, AZ; Columbus, OH; Sacramento, Roseville, Arden, Arcade, CA; Madison, WI and Columbia, MO.
Coeur d’Alene has a small-town feel while also serving as a tourist area with its access to outdoor activities, such as skiing and water sports
Coeur d’Alene is known for its vibrant downtown and abundant recreational activities including outdoor trails, golfing and water activities
Motorcycles parked outside the Iron Horse Bar and Grill on Sherman Ave in Coeur d'Alene in Idaho
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