Real Estate Market News Sept 2015 Idaho, ADA County

MARKET NEWS September 2016

Idaho Real Estate Newsletter

Could Now Be the Best Time This Year to Buy a Home in Ada County?

There were 2,504 single-family homes for sale in Ada County as of August 2015, down 15.5 percent compared to August of 2014. But while inventory was down, there were 1,279 pending sales in August 2015, up 40.4 percent compared to the same time last year.

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Market Report August

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Ada Homes DOM “ Days of Market”

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Supply of homes

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Managing your quick Settlement

The Ada County Association of REALTORS®

Allen Pedersen, Coldwell Banker Tomlinson Group (208) 703-3499 pedersenallen@gmail.com www.findhomesinidaho.com

Here’s how the rest of August 2015 shaped up for single-family homes in Ada County: 

Inventory was at 2,504, down 15.5% year-over-year (not tracked YTD)

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Months of Inventory was at 2.7 months, down 28.9% year-over-year (not tracked YTD)

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Days on Market was at 45 days, down 15.1% year-overyear, down 7.3% year-to-date

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Pending Sales were at 1,279, up 40.4% year-over-year (number not tracked YTD)

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Closed Sales were at 837, up 12.4% year-over-year, and up 18.6% year-to-date

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Median Sales Price was at $229,500, up 4.8% year-over -year, and up 7.6% year-to-date

Tips: MANAGING YOUR QUICK SETTLEMENT If you’re one of the lucky sellers whose Idaho home sells after only a few days on the market, congratulations are definitely in order! Yet, once the realization of your home sale has sunk in, it’s time to make a few important decisions. If you have a new home ready and waiting, then the move process will be easier. But it’s tough to time a move perfectly. Maybe you listed your home with lower expectations and no defined plan to move out.

In that case, here are home selling tips for those dealing with a quick settlement. Link Below

Supply Of Homes This decrease in supply and increase in demand was the reason that many buyers and sellers found themselves in multiple offer situations over the Summer. Further evidence of buyer demand could be found in the Months Supply metric which was at 2.7 months in August 2015, down 28.9 percent year-over-year. (A balanced market—not favoring buyers or sellers—is typically between 4-6 months of supply.

Allen Pedersen, Coldwell Banker Tomlinson Group (208) 703-3499 pedersenallen@gamail.com www.findhomesinidaho.com