Observations of a Real Estate Professional

13 04 2010

On the Treasure Valley Real Estate Market

• Based upon “selling odds” there seems to be a special opportunity for sellers of existing homes in Ada County between $160-199,999.
• Inventory usually goes up from February to March – at least it did in 2006, 2007, 2008, and 2009 (Ada Only); but not in 2010. In both Ada & Canyon County it went down. Yeah!
• Selling Odds are better now for Resale homes than for New Construction.
• Kuna & Nampa markets are both exceptionally hot right now under 300,000 because of the first time homebuyers pushing to get the tax credit.
• So far this year there have only been 5 sales over 700,000 in all of Ada County, none for over a million.
• In Canyon only 2 sales over 400,000 with a huge increase of activity under 100 and even <70.
• Ada sales units are up 34% so far this year; but the dollar volume is up on 21%. So more houses are selling for fewer dollars.
• Canyon sales units are up 66% so far with a dollar volume up only 39% – an even bigger gap reflecting the reduction in pricing.
• As far as a price bottom, all I can say at this point is that the rate of reduction is slowing :o)

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5 responses

21 04 2010
Kevin Benedict

Jere, this is an excellent blog. Thanks for taking the time to share your knowledge and insight.

21 04 2010
Kevin Benedict

How are things looking in the North End of Boise?

21 04 2010
jerewebbhomes

The closer you get to the capitol, the better the market has maintained. So ideally one would want to sell there and buy in Eagle! :o)

22 04 2010
Bob Kunzman

I am a remodeler. I have tried to find properties in distress that need my talent to fix and put back on the market.
I am working with Chris Collins to try to make this happen. Chris has been out spoken about your knowledge of the real estate market. Please contact me when you see a home that needs to be remodeled to return to the market.

22 04 2010
jerewebbhomes

I know of a bunch of them right now! Please call me at 861.2222 and lets get together. I can help you with this project.

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