Homes for Sale & Sold Report for November 2016
Healthy labor markets and job growth have created more and more buyers who are not just ready and willing to buy but are also able to. If you are debating whether or not to put your home on the market this year, now is the time to take advantage of the demand in the market.
- There were 846 homes sold in Ada County last month
- The average sold price was $245,000.
- Mortgage rates remain up just over 4%.
- The low inventory of homes for sale in Ada County has driven home prices for months now. In November 2016, there were only 1,730 homes for sale in Ada County, just 66 more than the historic low point of 1,664 in January 2013.
- The lack of existing home inventory pulled new construction inventory down 0.2% from last year. There were only 868 existing homes for sale in November 2016, a 17.7% drop from last year at this time, and 22.2% lower than in October 2016.