In 2017 the Ada County market for residential real estate increased 3% in unit sales over 2016 and 9% in average price.
Can this trend continue in 2018?
January 2018 saw a 12% increase in unit sales compared to last January, when snow and cold weather impeded the market, and the average price of sold properties of $299,383 continued to increase at a 9% rate.
What about inventory? Officially, our MLS reports that there are 1238 homes on the market for 1.3 months of inventory. However, 581 of those are classified as "to be built" or "under construction," leaving only 655 resale and finished new homes ready for occupancy--a supply of only 20 days!
If you're a buyer, act quickly. Homes disappear fast and many attract multiple offers.
If you're thinking of selling, there's no time like the present to put your property on the market.
The chart below shows the breakdown of inventory on the market now.