Low Home Inventory Throughout The Treasure Valley Continues To Drive Up The Home Prices In The Area

Dated: 04/24/2017

Views: 616

  Image title

Low home inventory throughout the Treasure Valley continues to drive up the home prices in the area. The shortage of existing homes on the market compared to the buyer demand for housing has driven the median sales prices up near the record highs for Ada County and has already set a new record out in Canyon County.

At the end of March, the median sales price for Ada County was $250,000.  This is only slightly below the record high which was set in June of 2016. Meanwhile out in Canyon County the median sales price has surpassed the old record high and now sits at $175,000.

While more homeowners are beginning to see that they can take advantage of the equity that they have in their homes, we still have a very large shortage of existing homes on the market. Simply put we just do not have enough inventory on the market to supply the large influx of buyer demands.   The key to fixing this problem is getting current homeowners to look at the possibility of moving up and building new homes. This will free up some of the mid range homes that fit the needs of the first time homebuyers that are flooding our market.

So to put things in laments terms: Existing homeowners should look at building a new home which will be more affordable due to the fact that they will get higher than average sales prices on their existing homes. This then puts more existing inventory on the market, and will help to eventually level out the home prices.


To get a FREE Equity Analysis of your home give me a call today!


13710036_10154280052059098_9067795379989110380_nCody Heller - REALTOR

Direct: (208) 919-4977

Email: cody.heller@tripeakrealty.com



Blog author image

Cody Heller

Since 2015, I have been the Co-Owner Of Tri-Peak Realty with my wife Ashley and business partner Greg. I am a dedicated and committed Realtor who consistently goes above and beyond for my customers. I....

Latest Blog Posts

The Importance Of Inspections

Hi everyone!Buying and selling a house can be a great experience, and it is usually one of the largest financial decisions anyone will make in their life! However, sometimes there are some

Read More

20 Faces Every Real Estate Professional Has Made

1. The “Did You Really Just Apply For a Kohl’s Card 10 Days Before Closing?” face.2. The “You Picked My Brain For 2 Months, Now There’s a FSBO Sign In Your Yard” face.3. The “Client

Read More

9 Ways Home Flipping TV Shows Mislead Viewers

We all know the premise of home-flipping shows: An investor buys a veritable dump and then, with the help of a team of ready-and-willing contractors and landscapers, transforms it into the best

Read More

6 Exterior House Renovations That Increase Property Value

Home improvement is one of the key factors most real estate experts consider when selling houses. It is an inevitable aspect, which can increase the resale value of a home significantly, especially

Read More