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- Category: Market Updates Market Updates
- Published: 01 May 2011 01 May 2011
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Nampa Realtor Says Inventory Levels Are at a Critical Low!
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Nampa, Idaho Realtor, Don Wixom with RE/MAX Executives has just reviewed the most recent sales statistics for Idaho Real Estate in the Treasure Valley.
“The housing market for Canyon and Ada Counties has experienced a boost in recent months. In Nampa alone, April has accounted for a 68% increase in number of homes sold compared to January,”says Wixom.
The communities of Nampa and Caldwell, Idaho currently have less than a 5 month supply of homes available. Ada County (Boise & Meridian) is near the 6 month supply level. In the price category under $100,000, Nampa has only 3.5 months of product available.
These numbers contrast greatly with 2008 inventory, where some price categories had over 2 year’s supply.
“With this low inventory of homes available, we are likely to see price stabilization quickly,”says Realtor Don Wixom of RE/MAX Executives.
Even though the average sales price has dramatically decreased across the valley, including homes in Boise, homes in Meridian and homes in Caldwell, supply and demand still have an effect on pricing.
“We have seen homes receive multiple offers with bids higher than the asking price,”says Wixom. “Buyers are getting frustrated, but we need to see this rapid decline in values stop!”
Whether this is a seasonal trend or a long-term market correction for homes in Nampa, we may not know until this next winter. For now, you might start thinking of buying Idaho real estate!
For additional information and Idaho Real Estate statistics, visit www.sellidaho.com or contact Nampa Realtor, Don Wixom at (208) 880-5039.
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