Monthly Market Reports

Group One Sotheby's International Realty 2018 Year End Market Report


Copywritten by Group One, Inc.

Ada County home sales softened over the final five months of the year. The chart below shows month-by-month comparisons of sales between 2017 and 2018. 

As you can see from the chart above, we started out strong for the first half of the year then hit a wall - or a fence - for the second half. The slowdown was caused by the decrease in affordability for Ada County current residents combined with a slowdown in our feeder markets along with the decreased values in the stock market. If people can't sell their stocks at a profit or if homeowners in California can't sell their homes, they're both less likely to buy in Boise. 

The average and median prices both increased 17% over the past year, an unsustainable pace of increase in a market like ours. With higher prices and higher interest rates, our inventory has increased 11% over the last year.

The chart below shows the relationship between prices and inventory from 2002 through 2018.

Posted by Brad Barker at 1/6/2019 3:03:00 AM
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