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

Dated: 04/24/2017

Views: 924

  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....

Want to Advertise on this Site?

Latest Blog Posts

Spring Worthy Cocktails To Enjoy

It's time to start enjoying the long days, and what better way than to have a delicious cocktail in hand? The return of spring brings with it a new crop of bright, fresh drinks. From updated takes

Read More

Repaint Cabinets For An Instant Kitchen Facelift

Repaint Cabinets for an Instant Kitchen FaceliftLooking for an inexpensive update to your kitchen? Check out these tips. If your kitchen cabinets have seen better days, a fantastic weekend DIY

Read More

What Not To Do After Qualifying For A Mortgage Loan

What Not To Do After Qualifying For A Mortgage LoanSo you are getting ready to secure a loan for your dream home. Securing the loan is only half the equation: it is important to know that the time

Read More

GREAT VACATION IN IRELAND

I don’t know about you, but whenever I start thinking about wanting to take a vacation someplace unique and fun, I am overwhelmed by options.  Do I want an adventure with lots of physical

Read More