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Boise Real Estate Market Report- October 2018

Real Estate Agent with Juniper Realty Group at Silvercreek Realty Group SP38480

October 23, 2018 02:19 PM

ADA COUNTY HOUSING MARKET SLOWS ITS PACE...EVER SO SLIGHTLY

In Ada County, existing home sales in September 2018 were down 24.0% compared to the same month last year – and down 25.2% from August 2018. This number marks the first double-digit decline in existing home sales since February 2017 which could easily support that “market turn” discussion.

Existing home sales in Ada County were down 24.0% compared to the same month last year – and down 25.2% from August 2018.

As of September 2018, inventory of existing homes in Ada County was down 19.2% compared the same month the previous year.
There are three other metrics we’re also watching closely to see which way the market may be moving: days on market, percent of original list price, and months supply of inventory.

Speculation that the real estate market is turning is a hot topic across the country, as year-over-year existing home sales have been down or remained flat in many states over the past few months.

Those thinking about selling or buying shouldn’t be concerned with ‘timing the market,’ because the best time to buy or sell is when it fits your needs and circumstances.