Monthly Market Reports

Group One Sotheby's International Realty October Market Report

Fourth Quarter Thrust

October unit sales in Ada County outpaced those of last October by 9.4%. Pending sales at the end of the month were also up by 12%, providing a positive picture for the end of the year.

Year-to-date unit sales were up 2.8% despite inventory, which was 10% lower than at the end of last October. Because of the lower inventory, average prices were up 7.8% for the trailing twelve months-- higher than the norm for the past several years and much higher than the 13.6% of total sales in 2011.

New construction inched upward to 23.4% of total units sold from 21.1% last year, despite the fact that new home prices are 32% higher than prices for resale homes.

The chart below shows the annual year-over-year percentage change for the last 10 years. As you can see, 2017 had a slightly higher rate of positive change in average price than in any of the prior three years.

                      

Posted by Brad Barker at 11/7/2017 3:14:00 AM
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