Confidence Rises, Another Good Real Estate Month

It's smart, even essential for those in the real estate world--homebuyers, sellers, homeowners, realtors, etc--to stay up on the current Idaho housing market. At the Hughes Group, your realtors tirelessly explore market trends, not out of their own interest but to help their valued customers. Coming out of tough times and into a strong real estate economy, many wonder how substantial the recovery has been and will be. Statistics from the Intermountain MLS, which covers Southwest Idaho, serve to illustrate the sustainable growth of the Idaho housing market in 2012 and moving forward. The numbers pretty much speak for themselves.

September MLS Data

September found 549 homes sold in Ada County and 253 in Canyon County. About the same number of homes were sold last September in the area. Coming out of a good selling summer, it's not surprising that September experienced a bit of a drop with school starting and other activities. September didn't hit it out of the park, but it certainly cemented the Idaho housing market's growth. Days on the market remained steady at 54 in Ada County, which is almost three weeks less than it took to sell your home last year. Perhaps, most telling was the statistics on the median sold price: $172,500 and $104,433 for Ada and Canyon counties respectively. Home prices are stable, even as they have risen from $136,500 and $76,900 at the start of 2012!

What September Might Bring

September and the 2012 have brought good consequences for the Idaho housing market--less homeowners "underwater", equity growing, and likely more real estate activity in the near future. Confidence in the Idaho housing market is probably the most needed ingredient for future real estate gains, as many have been "sitting back" waiting to see if the bounce-back was only temporary. While no one can know for sure, statistics reinforce positive market outlooks; we're not seeing just a good month or two, we are seeing month-after-month of good news. As this happens, however, the window of opportunity for buying a home at a low price seems to be escaping. As home prices rise, sellers will get more for their home, but they will be spending more to buy a home. Luckily, the stagnancy of 87 days on the market to sell a home in January 2012, has been dropped to 54. The Ada County market seems to be a bit stronger overall compared to Canyon County with a greater jumps in number of homes sold and median home price, as well as a bigger drop in average days on the market. The market, going into the winter will be interesting--usually winter months are more of a "buyer's market" with not as many wanting to buy then, but with the current low housting inventory, it could be almost even. We'll see.

The Hughes Group doesn't let the market own them, they lead the market. Even as September experienced a slight market decline from the summer, the Hughes Group had an excellent month with over 40 houses sold. Be where the action is happening; have the best help available! Search all area real estate with innovative technology and let the energetic market work for you.

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