ACROSS ADA COUNTY INVENTORY CONTINUES TO INCREASE
Wondering what 2022 has in store for our local real estate market? Check out Jonna's quick video above or scroll down for stats and figures detailing what we are seeing on the ground.
In a nutshell, inventory continues to increase, buyer demand remains strong, mortgage rates are rising, resale homes are sitting on the market for a longer period of time but continue to sell for record prices. It is a fascinating market!
One thing that is certain - whether you’re looking to buy or sell - it has never been more important to work with an experienced & professional real estate agent that you can trust! We would be honored to be trusted to help you achieve your real estate goals. Contact us today!
Wondering what 2022 has in store for our local real estate market? Check out Jonna's quick video above or scroll down for stats and figures detailing what we are seeing on the ground.
In a nutshell, inventory continues to increase, buyer demand remains strong, mortgage rates are rising, resale homes are sitting on the market for a longer period of time but continue to sell for record prices. It is a fascinating market!
One thing that is certain - whether you’re looking to buy or sell - it has never been more important to work with an experienced & professional real estate agent that you can trust! We would be honored to be trusted to help you achieve your real estate goals. Contact us today!
To subscribe to receive our full monthly market update directly, click here.
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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 increased by a notable 75.8%, the median sales price increased by 27% (coming in at $546,000) and they took a longer amount of time to go under contract (29 days opposed to 17).
If you then examine just existing/resale homes (and remove all the newly constructed homes from the statistics); the median sales price increased by 21.4% (coming in at $510,000), inventory increased by an incredible 217.9% & homes are sitting on the market a bit longer than they were one year ago (up 150%).
And finally, if you look just at newly constructed homes; new homes are selling for a median sales price of $579,990 (a year-over-year increase of 30.4%), there are more of them available than there were one year ago (inventory is up by 27.5%) and they are staying active on the market for a longer period of time (37 days compared to 27).
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TREASURE VALLEY HOUSING MARKETS
Average Sold Price (December 20, 2021 - January 20, 2022)
- Boise: $589,049
- Eagle: $992,796
- Meridian: 575,858
- Star: $594,647
- Garden City: $437,920
- Kuna: $521,921
- Middleton: $533,928
- Nampa: $432,010
- Caldwell: $451,721
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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 current 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.
