Market UPdate

The local market trends I'm seeing on a micro scale are a series of small ups and downs within an upward marcro trend.

SELLERS- When it comes to pricing homes for sale in Boise, the ups and downs create a need for careful calculations aimed at a moving target.

BUYERS - In terms of buying a house in Boise, I continue to maintain that any home that has been on the market for longer than a couple of weeks is fair game for an offer below the asking price. Expand your price-range at least 10% higher than desired, and offer 10% under asking for homes you'd like to call your own.

DATA LOVERS - Homes are increasing in price. Year-to-date sales are up and dollar volume is up. Inventory is a challenge with seasonal decreases in effect, but is better than last year. Boise maintains its better-than-average recovery pace.

December is poised to lead us toward a 13% overall increase in sales for the year. For two months, local real estate sales have been slightly lower than last year's sales in October and November.

"The median price in November was $205,700, an increase of 16% from last year and above the national average of  $199,500 according to NAR's most recent report," reports Mark Lebowitz of the Ada County Association of Realtors.

You can find the charts to accompany this data at my Foster Boise Blog and you are invited to contact me with any questions.

Sincerely,
Shana Foster Moore
Your Local Boise Real Estate Professional

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December 20 2013 - Boise
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