“Average and Median prices continue to go lower” For those who report on Boise area real
estate sales by skimming across the top of the data, that’s probably the
headline to their story. And, in
absolute terms, that information would be correct . . .correct, but
worthless.
January is typically the month with the lowest number of
sales. It was last year, and, from the
way other data look, it’s easy to say it will be this year too. The price measurements jogged down because of
the low number of sales, which made the two most-active price strata have a
greater weighting on the distribution.
Looking deeper into other elements of the real estate market,
shows a completely different story.
Those elements appear to be moving in a direction that begins to support
a returning real estate market.
Month-over-month, and year-over-year measurements show improvements in total
sold, New Listings, and the average and median asking prices of those new
listings.
Year-over-year sales for January were up by 13%, and new
listings in January were 200% greater than those for December. For reference, that comparison for the
previous year’s December-to-January change was 44.5%.
For more depth on the Boise area real estate trends, see the
Market Statistics page on our website.
Click here: BuySellBoise.com
