Nampa Realtor Says Inventory Levels Are at a Critical Low!

By
Real Estate Agent with RE/MAX Executives Nampa, ID

Nampa Realtor Says Inventory Levels Are at a Critical Low!

 

Nampa, Idaho Realtor, Don Wixom with RE/MAX Advantage has just reviewed the most recent sales statistics for Idaho Real Estate in the Treasure Valley.

 

“The housing market for Canyon and Ada Counties has experienced a boost in recent months. In Nampa alone, April has accounted for a 68% increase in number of homes sold compared to January,”says Wixom.

 

The communities of Nampa and Caldwell, Idaho currently have less than a 5 month supply of homes available. Ada County (Boise & Meridian) is near the 6 month supply level. In the price category under $100,000, Nampa has only 3.5 months of product available.

 

These numbers contrast greatly with 2008 inventory, where some price categories had over 2 year’s supply.

 

“With this low inventory of homes available, we are likely to see price stabilization quickly,”says Broker/Owner Don Wixom of RE/MAX Advantage.

 

Even though the average sales price has dramatically decreased across the valley, including homes in Boise, homes in Meridian and homes in Caldwell, supply and demand still have an effect on pricing.

 

“We have seen homes receive multiple offers with bids higher than the asking price,”says Wixom. “Buyers are getting frustrated, but we need to see this rapid decline in values stop!”

 

Whether this is a seasonal trend or a long-term market correction for homes in Nampa, we may not know until this next winter. For now, you might start thinking of buying Idaho real estate!

 

For additional information and Idaho Real Estate statistics, visit www.sellidaho.com or contact Nampa Realtor, Don Wixom at (208) 880-5039.

 

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Comments (10)

Joe Kenny
Realty Executive Midwest - Darien, IL
Better Than Your Average Joe

Don and this a prime example of why people need to stop listening to National news on real estate.

May 01, 2011 03:52 PM
Nona Swann
Swann & Associates Real Estate - Indialantic, FL
Serving the needs of the Sellers in Brevard County

Wow Don it looks like you have been busy. I sure wish we could have just a 3 to 5 month supply.

Congratulations on the positive news.

May 01, 2011 03:53 PM
Karen Bernetti
Southington, CT

What great news Don!  And this is such a cleverly written post.  I love it.  Real Estate IS local!

May 01, 2011 04:12 PM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Don,

So get out there and get some more listings! ;-)

Ann Hayden in Wildwood, MO

May 01, 2011 04:18 PM
Glenn Roberts
Retired - Seattle, WA

We're out here too. Out of listings. This is putting value back into home ownership.

May 01, 2011 05:06 PM
Don Wixom
RE/MAX Executives Nampa, ID - Nampa, ID
"Looking out for your next move..."tm

Joe, Yes, it's a season for change in a positive way!

Nona, Yes, I have been busier than a one-armed paper hanger in a wind storm!

Karen, thank you. I was hoping to get a press-release type of feature in our paper as well.

Ann, that's on my list this week!  ;)  Thanks!

Glenn, you gotta love good ol' supply and demand!

May 02, 2011 02:27 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

Such good news on one hand Don on the other....well...LOL  I have been so busy chasing down homes for clients the past several months and it is crazy all the multiple offers that we are competing with!   Kind of exciting too!   Crazy busy....I think I might be busier than i was in 2005 and 2006

May 03, 2011 03:07 PM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

Don,

So how many have you landed???

Ann Hayden in Wildwood, MO

May 10, 2011 04:22 PM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Don,  this is good news of sorts.  I would rather have two months supply than two year supply.  My agents are knocking on doors to find sellers who might be thinking of selling.  Good luck rebuilding your inventory.

PS  Donna Foerster sent me here.

Jun 29, 2011 11:42 AM
Patty Luther
RE/MAX Rock-n-Roll Realty - Lewiston, ID
Lewiston ID Real Estate, Idaho-Washington

Don I feel the SAME way up north here in Idaho, multiple offers on most listings~18 days ago a new REO came on the market 6 offers~  last week two new REO's ~  3 offers on one of themand  4 on another~ yeah!

Jul 23, 2011 05:47 PM