January Market Dynamics at a Glance – Ada County Existing Homes
Average Home Price for all Active listings in January was up to nearly $497,736 thanks to 29 homes in Ada County with a price tag north of 1 million dollars. This is up from $459,923 just 1 month ago as we closed out 2018, but don’t be too worried, the average selling price is still hovering around $327,438 for the trailing 12 months. Good news for some, but remember back in 2011 when the average selling price in Ada County was just $160,113? Those days are unfortunately gone, but the great news here is that home prices across the country are projected to increase in 2019 by another 4.8% so don’t delay!
Days on Market is still averaging 24 with homes priced between $200,000 to $250,000 selling the quickest at just a 14 day average DOM (days on market).
Active Listings in the market last January, 2018 amounted for 424 units while this January, 2019 we saw a surprising 504 active listings. How will the increase in activity play a role in home prices as we fly into second quarter? Will a late winter flurry have an impact on the market as we inch closer to Spring? We are just as excited as you are to see what will happen.
Stay tuned for more insights and follow us at navigaterealestate.com for the latest information on available homes in the Valley.