Our annual market summary for Ada County highlights some interesting and significant issues happening in the world of local residential real estate. In our report we offer side by side comparisons of statistics from year ending 2019 and 2020 for each MLS defined area. Learn which areas have increased the most in average price, which areas are most affordable over all, and get a glimpse of where the market may be heading in 2021.
Significant issues of the year are:
that housing inventory (properties available to buy as of December 31st) has decreased
that, in spite of the decrease in inventory, unit sales have increased, and
because of the limited inventory, prices have
increased by about 14%.
To dig even deeper, ask your Group One Sotheby’s agent to give you more specific information regarding your own opportunities in this market as it evolves.
Corona is just the latest in a series of trends that has redefined the landscape of office space for several industries, including real estate. While the days of large office spaces with a desk for every agent may be on the decline, having a place to meet with clients face-to-face and get business done is still important.
With that in mind, we’re pleased to announce our new temporary location in Eagle at 1675 E. Riverside Drive, Suite 100 (across from Taziki’s). We’ll be here until our new permanent location, currently in the planning and design phase, is done.
If you’re in a bind and need to get a document printed or need an internet connection ASAP, stop by and check out our new place. We’ll be happy to help.
The story of Ada County real estate for the last five years has been
consistent: Increased sales (from 11,316 units in 2016 to 12,710 units
in 2020) in the face of decreased inventory (starting at 1,784 units at
the beginning of 2016 to only 379 units at the end of 2020).
of this year began with 379 housing units available for sale and ended
with 323 units, still consistent with the recent past. However, unit
sales during the month of January decreasedby 24% over those of last January, the first decrease in same month sales in many years.
For the future: Let’s keep an eye on inventory and sales in the next several months to see if this trend continues.
For the past: Ask your Group One Sotheby’s International Realty agent for our 2020 annual housing report to be issued February 15.