Summer Loving

The grass is great, and the skies are clear and the market is heating up. Yes, you read that right, the market is heating up! If you have been on a weekend drive you have probably noticed the increase in open house signs and if you have stopped into one of those open houses you have probably noticed you typically are not the only person in the house. These are all good signs.

The summer is typically a good time for Realtors and this summer is going to not only be a great time for Realtors but also a great time for buyer and sellers. House prices are still low but have stabilized for the most part and most homeowners no longer need to continue dropping prices to sell. Early this summer we saw the bottom of the housing market stabilize and we are now seeing the upwards effect of this by stabilizing the market around $200,000 and higher is some places. This may not seem like much of a gain but these are the homes once valued at over $300k. Stabilizing this market welcomes the middle class and current homeowners the option to move around and explore options. Something unseen in the last 2-3 years.

You may be wondering how I am coming up with such ideas but let me give you some numbers here in Ada County:

Active Listings:
April May June To-Date
3,896 3,701 3805

Homes Sold:
April May June To-Date
419 428 365

Months of Inventory:
April May June To-Date
9 Months 8.6 Months 7.6 Months

Median Price of Homes Sold:
April May June To-Date
$170,000 $171,365 Not Released

Average Price of Homes Sold:
April May June To-Date
$200,135 $203,434 Not Released

As you can plainly see from the numbers sales are taking off this month. We are on pace to have just under 500 homes sold this month, a large increase from previous months. Along with the increase in home sales homes sold between $160,000 and $249,999 consists of 31% of the homes sold in the Ada County! Almost one third on the homes sold fall into that price range! This price range is considered to be the mid-class market, meaning it's not just a first time home buyers market.

If you have any interest in real estate get out this weekend and check out some open houses. Thinks are happening in the housing market, don't be left behind!!!