MARKET NEWS
SpurWing Edition
October / November 2016
Idaho Real Estate Newsletter
Which Price Points are Selling Best for Ada County Homes? Conventional wisdom says home buyers aren’t shopping this time of year. But as the weather has stayed warmer longer, and our local economy continues to be strong, buyers are still on the hunt. Closed sales in September 2015 were up 20.6% year-over-year, and up 18.9% year-to -date compared to this same time last year. “understanding activity within price points can gauge potential demand, which is helpful for homeowners who may be considering listing their home yet this year.”
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In This Issue
Ada county Price Points
Market Report September
SpurWing Home Sold in September
SpurWing Real Estate News
Market News in Ada County
The Ada County Association of REALTORS®
Allen Pedersen, Coldwell Banker Tomlinson Group (208) 703-3499 pedersenallen@gmail.com www.findhomesinidaho.com
Sold Homes in SpurWing in the month of September #Sold Sales
Volume
Avg List $ Avg Sold $ Med Sold $ DOM
% Sold/ List
% Sold/ Original
#Active
Months’ Supply
6
$2,478,421
$408,356
101.15%
101.60%
13
4.22
$413,070
$399,625
75
Market News in ADA County Homes priced $300,000 and above have had impressive year-over-year increases in closed sales, and those priced $400,000 and above have seen modest growth in inventory. More sales in these higher price points is one reason that the median sales price continues to rise—up 13.5% across all price points compared to September 2014, and up 8.1% year-to-date. However, inventory is way down for homes priced $250,000 and below, which is the typical price point for first-time home buyers. With a lack of homes to choose from, some first-time buyers may reluctantly choose to delay their home search, and continue to rent or live with family or friends. Without first-time buyers, move-up buyers could end up staying in their current homes longer than they’d like.
Real Estate news in SpurWing Oak Leaf phase two subdivision on the cross street of Sugar Tree is nearly completed and will be ready for buyers and builders soon. A total of 12 lots in different price ranges depending which lots are closer to the northern bluff. Like Heron Ridge its close neighbor the lot prices will keep the home prices higher then SpruWing Green homes the surrounding subdivision. Good news for home values in SpurWiing Green. Boise Building Co. is building about 6 homes next to the new pool butting up to the common area near Tree Farm Rd. The lots are narrow but long and the home designs will be similar to what Boise Building Co. have already built at Hidden Springs. Price range will be from the 350k to 430k single and two story homes.
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Allen Pedersen, Coldwell Banker Tomlinson Group (208) 703-3499 pedersenallen@gamail.com www.findhomesinidaho.com