What is the market doing in Canyon County .....Nampa Idaho?
Below is a chart with all sorts of information to explain what our market is doing...
As many of you have seen in TV commercials...
Real Estate is Local....
Our Market is a Sellers Market...
The above chart has so much information....where to start....
If we look at the total number of homes sold in Canyon County we can see that we are just short of 3000 homes sold in the past 12 months....
The average price of a home sold in 2011 is $85,862 compared to 2010 where the average price was $85,323
72.2% of the homes sold were Distressed....(short sales or REO/Bank Owned Properties) This actually makes a seller who has equity in their home have a very good chance of selling their home. Buyers are fed up with the long process of a short sale and the hoops and challenges they have to go through to buy a bank owned home. A seller who has equity can complete a home purchase quickly and with less headaches.
The average square foot of a home sold in Canyon County this year is 1683 sq ft at $51.02 per square foot. Quite a bargain when you think of it!
Over all there is a shortage of homes on the market....less than half of what was listed just one year ago. In some price categories we have less than 6 months of inventory. This will make slim selections come this spring unless we have more inventory come on the market!
We are actually in a Sellers Market now with these inventory levels....over all we have 2.8 months of inventory....a good or balanced market has about 4-6 months of inventory.
If you would like more information on these statistics Please contact me today
**The information provided is derived from the Intermountain MLS. It is deemed reliable but not guaranteed!
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