And residential real estate agents thought 2002 was a good year.


Home sales activity reported in 2003 through the Spokane Multiple Listing Service broke records for a second consecutive year, as activity and average home prices both surged to new highs due largely to historically low mortgage rates.


The MLS reports 7,219 single-family homes sold for a total of $969 million in Spokane County last year, up from the record 6,240 homes that sold for $780 million the previous year.


Sales in Kootenai County through the Coeur dAlene MLS also grew dramatically, with 2,471 single-family homes changing hands for $351 million, up from 1,930 homes worth $246 million the previous year. Both 2003 numbers were record highs.


David Crosby, broker and owner of the American Dream Homes real estate agency in Spokane Valley, says increased demand in the Spokane area has pushed property values higher.


Home prices are on the increase, and its kind of fun to watch, says Crosby, who is president-elect of the Spokane Association of Realtors.


In 2003, the average sale price in Spokane County grew 7.4 percent to $134,300, up from $125,000 in 2002. The average sale price in Kootenai County jumped 11.5 percent to $142,100, up from $127,500 the previous year.


Carolyn Murphy, a real estate agent with Coeur dAlene-based Coldwell Banker Schneidmiller Realty whos president of the Coeur dAlene MLS, says that in addition to seeing a lot of activity due to low mortgage rates, the Kootenai County residential market benefited from an increase in people relocating to North Idaho from other areas.


A lot of people still come from California, but Ive also had some from Maryland and the rest of the East Coast, Murphy says.


Both Crosby and Murphy say the number of homes on the market in the two counties currently is low and demand is higher than it typically is at this time of year.


Those factors still suggest a sellers market, they say.


Some real estate professionals expect that activity will start to slow down later this year. Crosby says for now, however, activity is continuing at an aggressive clip.


We have multiple offers (for a property) in January, he says. Its incredibly busy for this time of year.