Market Statistics from Sue Dahlgren and Group One – February 2016

 

January 2016 Market Report by Sue Dahlgren at Group One Real Estate

FAST START

At the end of 2015 we wondered if the good news market could continue.

Well, January news was oddly good. It was a successful start to the year because sales were 12% higher than last January. It was odd because all of the improvement in sales was in resale properties; new home sales this January were identical to sales last January.

The future appears even brighter. Pendings were up 12% for resale homes and up 63% for new homes over last January.

Inventory in resale homes is down to only 36 days while new home inventory is balanced at 5.9 months. We desperately need more resale inventory. There are many more buyers than there are properties to buy.

Editorial Comment:  If you’ve been thinking about selling your home, this could be the perfect time. Don’t wait for spring. More homes will hit the market as soon as the grass turns green. Group One recommends LISTING your home. Fully listing your home means including it in the Multiple Listing Service. This allows your home to gain exposure to all buyers and agents, resulting in an offer based on full market exposure. Don’t leave potential money on the table by opting for a “Coming Soon” sign.

Market Statistics Click on the links below to download the latest Market Statistics.

Market Statistics
Click on the links below to download the latest Market Statistics.

Legend

Market – These include homes of all ages and new construction.
Existing - This includes all homes older than 1 year and excludes new construction data.
New Construction - This includes new, to be built, and under construction homes.

 Ada County Area Map
 Canyon County Area Map

Market Existing New Const
Ada County DownloadPDF DownloadPDF DownloadPDF
North Boise, 100 DownloadPDF DownloadPDF DownloadPDF
Northeast Boise, 200 DownloadPDF DownloadPDF DownloadPDF
Southeast Boise, 300 DownloadPDF DownloadPDF DownloadPDF
Boise Bench, 400 DownloadPDF DownloadPDF DownloadPDF
Southwest Boise, 500 DownloadPDF DownloadPDF DownloadPDF
SW Boise/Meridian, 550 DownloadPDF DownloadPDF DownloadPDF
West Boise, 600 DownloadPDF DownloadPDF DownloadPDF
West Boise/Meridian, 650 DownloadPDF DownloadPDF DownloadPDF
Garden City, 700 DownloadPDF DownloadPDF DownloadPDF
NW Boise/Garden City, 800 DownloadPDF DownloadPDF DownloadPDF
Eagle, 900 DownloadPDF DownloadPDF DownloadPDF
Star/Meridian, 950 DownloadPDF DownloadPDF DownloadPDF
Southeast Meridian, 1000 DownloadPDF DownloadPDF DownloadPDF
Southwest Meridian, 1010 DownloadPDF DownloadPDF DownloadPDF
Northeast Meridian, 1020 DownloadPDF DownloadPDF DownloadPDF
Northwest Meridian, 1030 DownloadPDF DownloadPDF DownloadPDF
Kuna, 1100 DownloadPDF DownloadPDF DownloadPDF
Market Existing New Const
Canyon County DownloadPDF DownloadPDF DownloadPDF
Nampa (83687), 1250 DownloadPDF DownloadPDF DownloadPDF
Nampa (83686), 1260 DownloadPDF DownloadPDF DownloadPDF
Melba, 1265 DownloadPDF DownloadPDF DownloadPDF
Nampa (83651), 1270 DownloadPDF DownloadPDF DownloadPDF
NW Freeway, 1275 DownloadPDF DownloadPDF DownloadPDF
SW Freeway, 1280 DownloadPDF DownloadPDF DownloadPDF
Middleton, 1285 DownloadPDF DownloadPDF DownloadPDF
Canyon Other, 1290 DownloadPDF DownloadPDF DownloadPDF
Parma, 1292 DownloadPDF DownloadPDF DownloadPDF
Wilder, 1293 DownloadPDF DownloadPDF DownloadPDF
Greenleaf, 1294 DownloadPDF DownloadPDF DownloadPDF

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How’s the market?

I guess you could ask 100 Realtors this question and get 100 different answers. Even agents in the same geographic area will have varying responses. Here’s what I think based on what I have been experiencing.
In the Treasure Valley, the market is improving.  That is not to say that we don’t have our fair share of distressed properties. We do. It also doesn’t mean that home prices are soaring, but in some areas prices appear to be stabilizing and even rising slightly. The market is interesting to say the least.  According to January numbers from the Intermountain MLS for the last three years, the percentage of Active Properties (listed for sale) vs. Pending Properties (under contract and waiting to close) has significantly improved.  Also, notice that the inventory is very low. This means that quality homes that are priced right are selling more quickly.
New Construction Numbers:
Active          Pending
01/2010     1582             200           13% pending
01/2011     1298              145            11% pending
01/2012     1014             198             20% pending
Existing Home Numbers:
Active            Pending
01/2010      8362              1285          15%  pending
01/2011       7228              1190          16%  pending
01/2012      4885               1470         30% pending
The biggest complaint I hear from agents these days is about lack of inventory.  The buyers are out there, and why not? Prices are good and interest rates low.  The problem is that there isn’t much to buy.  Well qualified buyers are waiting for “the house” to come on the market. It seems sellers are holding tight. Perhaps they think that prices will increase, or maybe they are just afraid to find out what their home is worth.
As a Realtor, all I can do is spread the word that buyers are waiting – perhaps for your home! It would be nice if we could get sellers back into the game.
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