The real estate market in the Idaho Treasure Valley is showing signs of life in spite of everything going on in the rest of the world! Check out these facts just revealed with my October 2011 Webb Chart data analysis:
1. For the first time in over 4 years the median sales price in October showed an increase from the same month prior year! This breaks a 52 month pattern where every month was lower. And to demonstrate that it is not a fluke consider this. . .
2. Median resale pricing in Ada County is UP 11% since establishing a market bottom in January 2011!
3. Inventory “months of supply” using a model that approximates the one used by the National Association of Realtors set a record low in October 2011. 3.7 in Ada and 3.3 months of supply in Canyon. You have to go back to June of 2006 to find numbers that low and we all know what was happening then!
What does all this mean if you are a buyer? Seller? Or just not sure what to do? Give me a call and I can help you sort it out!
Jere Webb C:208.861.2222
