Inventory is up by 133.3% compared to this time last year while pending and closed sales are drastically down. However the average sales price has increased to $793,533 which is up 28.4% from this time last year.
Interest rates are around 5.5%- 6% which is still well below the 50 year national average. We are seeing more price adjustments and homes stay on the market longer than we've seen in the past 18 months. Buyers are able to take their time and be a little picky now while sellers will need to price accordingly and actually negotiate now.
If you're thinking of buying or selling a home, please contact me today to discuss your options.
Laurel Jonas
Northwest Realty Group
208-758-9000
208HomesForSale@gmail.com
