Every month we send out an informative real estate market update. To subscribe to receive the full version of our complimentary, obligation newsletter, please click here. To check out an excerpt from this month's newsletter, keep reading...
ADA COUNTY'S HIGHLY COMPETITIVE REAL ESTATE MARKET CONTINUES
The median sales price for single-family homes across Ada County continued to rise and ended the month of October at $406,684. This is a slight drop from the previous month but up 14.7% compared to one year ago. This increase in price is the result of the highly competitive housing market that is being fueled by limited supply, heightened demand and low mortgage rates. Check out Jonna's quick video below for additional details and further insight.
If you group together both existing and newly constructed single-family homes and compare those numbers to the same month one year ago (detailed
in the top infographic), inventory plummeted by an incredible 73.7% and the median sales price increased by 14.7% (and now sits at $406,684). It's important to note that even with such low (record-breaking) inventory, more homes sold (an increase
of 11.9%) and they sold in half the time!
If you then examine just existing/resale homes (and remove all the newly constructed homes from the statistics) the general year-over-year trends noted above remain similar (but the numbers are slightly even more dramatic - or if you
are considering selling - significant
If you're contemplating selling a home or property... let's chat!
And finally, if you look at just newly constructed homes, the overall trend again remains pretty consistent. New homes are selling for a median price of $438,000 and there are substantially fewer of them available than there were one year
ago (inventory is down by 70.2%) - and yet
, 16.7% MORE are selling.
TREASURE VALLEY HOUSING MARKETS
Average Sold Price (October 19, 2020 - November 19, 2020)
- Boise: $454,999
- Eagle: $712,115
- Meridian: $446,273
- Star: $506,979
- Garden City: $419,694
- Kuna: $375,762
- Middleton: $462,979
- Nampa: $347,529
- Caldwell: $328,490
View all of our featured listings at Jonna Weber Premier Properties
, or click on any of the houses below to learn more about the property.
If you've been considering a move, this would be a great
time to connect with us to discuss the current value of your home and
to see what's newly available on the market. To discover what your
home is currently valued at, simply click here
and we will happily provide you with an obligation-free, complimentary home or investment property evaluation.
If you’re hoping to buy, keep in mind that low inventory certainly isn’t the same as no
There are options available, and rates are making mortgage payments more manageable. Click here
or call us to discuss what you're looking for. Otherwise, keep reading
to learn more about what's happening in Ada County's real estate market.