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an excerpt from this month's newsletter, keep reading...
Ada County Housing Update
According to our friends over at Boise Regional Realtors
, the overall median sales price for homes in Ada County last month reached $324,250. This price increase is driven by several factors; including the persistently low inventory of existing homes and
the increase of newly constructed homes being sold at higher prices (which is primarily due to rising construction costs).
With inventory so low and median sales price high, it is a GREAT time to sell! If you're contemplating selling your home or investment property - or perhaps you're just wondering what it's currently valued at - we'd be happy to provide you a no-obligation,
complimentary home or investment property evaluation
Compared to one year ago, the median sales price for existing, single-family
homes in Ada County increased by 20.1%, while total days on the market decreased by 13.2%. Meanwhile, total inventory is surprisingly up just a tick from one year ago (by 1.5% - but remains (as a whole) very low), and homes between $160k - $299k are selling
within two weeks!
And for newly constructed homes, compared to one year ago, the median sales price has increased to $390,000 (an increase of 13.9%), while total days on the market has decreased by an impressive 23.6%.
Treasure Valley Housing Markets
Median Sales Price (November 1, 2018 - November 30, 2018)
- Eagle: $470,000
- Meridian: $345,000
- Boise: $299,000
- Star: $346,000
- Garden City: $212,545
- Kuna: $265,000
- Nampa: $214,900
- Caldwell: $200,000
When viewed together, the above charts (provided
by Boise Regional Realtors
) offer a great, comprehensive visual representation of our current market. While overall closed sales and inventory have decreased, our median
sales price remains high. These three factors will continue to work together to influence changes in the market.
Institute for Luxury Home Marketing®
Last week Jonna traveled to Miami and spent concerted time among industry leaders in luxury real estate to earn the certification of being a trained member of the Institute for Luxury Home Marketing
The skills gleaned were top-notch, and we look forward to putting that knowledge to work for you in successfully marketing all of the homes we represent here in the Treasure Valley.
From the whole team at Jonna Weber Real Estate, we wish you and your family a wonderful holiday season!