THE UPDATE THROUGH OCTOBER

Let's start right off with the Bonus Numbers

I hope these stats help show buyers that there may be an end to their having played spectator since July.  There are plenty of homes to choose from, and all kinds of creative ways to offset the effects of higher interest rates.

Just ask you Realtor or Lender . . .it's what they do!

656 - The number of Single-Family Homes sold in Ada County in October

342 - The number of homes sold in October that had a price reduction(s) while they were on the market. 

52% - The percentage of homes sold October that had a price reduction while they were on the market.

11.8 %- The average percentage reduction from the original listing price for those 342 homes.

$75,384 – The average dollar reduction amount for those 342 homes.

298 – The number of homes sold at their original asking price (leaving a few sold above asking)

898 – The daily average number of homes offered for sale in May

2050 – The daily average number of homes offered for sale in October

31.1% - The Year-Over-Year average price increase from 2020 to 2021

11.87% - The Year-To-Date average price increase from 2021 to 2022

26%, 27%, 29%, 32% - New Construction component of total sales – Jul/Aug/Sep/Oct

$683,667 – The average price of a SFH in Ada County last May

$620,153 – The average price of a SFH in Ada County in September

$643,686 – The average price of a SFH in Ada County in October

                      (after declining through June, July, August, and September)

$683,667 – The average price of a SFH in Canyon County last May

$451,032 – The average price of a SFH in Canyon County in September

$452,724 – The average price of a SFH in Canyon County in October

                     (June $476,067, July $456,626, Aug $461,995)

  

Rising interest rates have made some potential buyers uninterested for the time.  Others have moved down a pricing stratum, maybe sacrificing square footage and/or location, etc. 

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