LOW INVENTORY OF EXISTING HOMES CONTINUES TO DRIVE PRICES
 The continued shortage of inventory compared to buyer demand has pushed the median sales price of existing/resale homes up near the record high in Ada County and set a new record in Canyon County.
As of March 2017, the median sales price for existing homes in Ada County was up 8.4% year-over-year, reaching $233,000. While this was an increase of 5.5% over February 2017, the previous high point was in June 2016 at $239,900.
While more existing homes are being listed each month as we move further into the spring market, it’s not enough to keep up with buyer demand. This is especially apparent when comparing current inventory to last year’s levels.
|
Highlights
- There were 806 homes sold in Ada County last month
- The average sold price was $250,000
- Avg 48 Days On Market
- Get Current Mortgage rates
For BUYERS
The weather has improved over the last 30 days and buyers are out in full force. Homes that come on the market are being shown and many cases multiple offers are being presented within hours of listing. Serious buyers 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! SEARCH HOMES NOW
For SELLERS
It appears that Sellers had been waiting for the Weather to improve as listings have increased the past 30 days. If you are still wondering if now is the best time for you to sell, contact me today for a free home value report and we can discuss the market and projections for your area and price point.
Comments (0)Subscribe to CommentsComment