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 REAL ESTATE MARKET CONTINUES TO BE FAST-PACED & HIGHLY COMPETITIVE
Fueled by low inventory, heightened demand, and low mortgage rates (which effectively increases buying power), many homebuyers have found themselves more willing to offer higher prices to match the competition. The result has been an increased median sales price (which now sits at $425,000).
For both home sellers and prospective buyers, our fast-paced, competitive market presents both challenges and opportunities. If you're interested in looking into either selling or buying, your best bet is to partner with an experienced and professional team that will equip with you with the information and tools you need to make informed decisions quickly and effectively so you can achieve your real estate goals. Interestingly, we really haven't seen the "winter slow down" that typically occurs - there is no time like the present! If you are interested in selling or buying, don't hesitate to contact us to discuss your unique situation.
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Graphics provided by Boise Regional Realtors.
SUMMARY: 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 a whopping 75%, the median sales price increased by 18.1% (and now sits at $425,000), and they are selling 55% faster (in, on average, just 18 days).
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... it's undeniably a great time to do so. Let's connect to discuss!
And finally, if you look at just newly constructed homes, the overall trend again remains pretty consistent. New homes are selling for a median sales price of $429,859 and there are substantially fewer of them available than there were one year ago (inventory is down by 69.8%) - and they are selling in half the time (down 49.1%).
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... it's undeniably a great time to do so. Let's connect to discuss!
And finally, if you look at just newly constructed homes, the overall trend again remains pretty consistent. New homes are selling for a median sales price of $429,859 and there are substantially fewer of them available than there were one year ago (inventory is down by 69.8%) - and they are selling in half the time (down 49.1%).
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TREASURE VALLEY HOUSING MARKETS
Average Sold Price (November 17, 2020 - December 17, 2020)
- Boise: $452,421
- Eagle: $720,573
- Meridian: $471,591
- Star: $508,921
- Garden City: $415,533
- Kuna: $383,739
- Middleton: $406,843
- Nampa: $350,896
- Caldwell: $339,391
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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.
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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 inventory. 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.
