This has been a busy fall/early winter for the real estate industry. However, even with all of the home sales we’ve been experiencing we still fell 5% short of last year’s sales at this time. Here is a quick look at what the Boise market did in November 2014.
- Days on the market slightly increased from last year’s numbers. Currently, we are looking at an average of 57 days on the market.
- There were 827 Pending sales at the end of November. Pending sales are used as an indicator for what the market is projected to do in the future. This leads us to believe that we will continue to experience strong home sales.
- The median home price increased this year to $215,319, showing a 5% increase from November 2013.
- Homes in the $120,000-$160,000 price range decreased the most out of all other prices.
Even though we experience another strong year, home sales will not surpass those of 2013. However, the dollar volume has greatly increased from last year due to the median price appreciation.