A MONTH OF SHOVELING AND SOME SHOPPING: Between extended school closures, below freezing temperatures, poor road conditions, and even a state of emergency in the City of Boise, many people were focused on shoveling driveways rather than seeing homes. Though purchase activity was down in January compared to last year, it was up from the previous month.
Highlights
- There were 547 homes sold in Ada County last month (vs 459 same time last year)
- The average sold price was $239,588 ($237,638 last year)
- Avg 51 Days On Market (67 Days last year)
- Mortgage rates remain near 4%. They are speculated to Rise again soon.
SEE THE FULL COMPREHENSIVE MARKET REPORT HERE
For BUYERS
As the weather improves and springtime gets closer, buying activity will become even more competitive. Rates could increase again in March which will keep price points from rising too fast. The lack of inventory will be a challenge again, so those who are pre qualified and working with an agent will be ahead of the competition. Sign up here to receive email updates as new homes hit the market. Be Ready!
For SELLERS
Have you been waiting for Spring or Summer to list your home for sale? If so, keep in mind that the average time to close is approximately 51 days. This does not include the prep time prior to listing. Make sure you have the most current market value for your home. Let me know when we can schedule a time to meet at your home for a full analysis.
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