Cautious market creates opportunity in Silver Valley
The real estate market in the Pacific Northwest is among the most unique and thriving across the nation. Within that lie several smaller sub-markets, each bringing its own benefits and challenges. The Silver Valley is no different.
As a bedroom community to the Spokane-Coeur d’Alene metropolitan area, people come to Shoshone County looking for a reprieve from the bustling city, but they also don’t want to be too far from it.
And that doesn’t come cheap.
Juli Zook, with Kellogg-based Silver Legacy Realty, has been in the real estate game for decades, seeing both the highs and lows of the housing market. According to Zook, the local market slowed way down about a year ago as people saw increasing interest rates and decided to sit and wait, hoping that they’d come back down.
That hasn’t been the case.
“Real estate in the Silver Valley is always changing with the seasons,” Zook said. “We are a desirable area with all of our outside, year-round activities. But we saw hesitation in the market last year with the escalating interest rates and promises from the new administration to lower them. To date, those rates have remained strong between 5-8% and, collectively, lenders don’t believe they will be changing any time soon.”
Zook refers to this as the "new normal," and she thinks buyers are starting to come around to it, even if it’s a bit reluctantly.
According to Zook, the median listing price for a home in Shoshone County is $288,000, a slight increase from the same time last year. In Idaho, the current average downpayment for a home is 19.1% — or $55,000. With all factors considered, a person putting the average downpayment for a median priced home, with just a 5% interest rate is looking at, roughly, an additional $215,000 in interest on top of the remaining $233,000.
The numbers as part of the "new normal" may have been eye-popping a year or two ago, but that hasn’t stopped potential sellers from listing their homes. The buyers are out there, but they are moving a little more cautiously.
“Currently, we have over 100 active residential listings, including condos and townhouses,” Zook said. “In 2025, 40 homes have been sold in the Silver Valley, which is down 11.1% from this time last year. The average days-on-market time for a home is 118 days.”
It’s a game of patience for sellers and realtors, but Zook isn’t deterred. With the busiest season of the year approaching, she knows that all it takes is a little shift for things to heat up really fast.
“As we move into this vibrant season, it’s important for both buyers and sellers to be prepared for the dynamic nature of the market,” Zook said. “Sellers should capitalize on the favorable weather and increased buyer activity by ensuring their properties are well-presented and priced competitively. Meanwhile, buyers can take advantage of a variety of listings available, each offering a unique opportunity for investment and lifestyle enhancement.”
