Review of the 2015 Idaho Falls Real Estate Market
Manage episode 151123757 series 1016958
Mike Hicks에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Mike Hicks 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
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In mid-December, the Fed increased interest rates by a quarter of a percent. The market anticipated this, so mortgage rates have increased by the same amount. For instance, a thirty-year fixed-rate mortgage rests at about 4%. The Fed announced rates will increase by another 1% this year.
In Bonneville County, there were 366 properties on the market on January 1st. This number includes townhomes, residential acreages, in and out-of-town properties, etc. Compared to last year, that’s a decrease of 33% -- also, down an even further 25% from 2014.
We have also experienced a significant reduction in inventory, due to a 24% increase in the number of homes sold since last year. However, in the past quarter, this low inventory caught up to us. In December, we didn’t exceed ourselves compared to 2014 and were down 15%. That number, though, is more a reflection of the inventory, not necessarily the market holistically.
The average median price increased 5.7% over the past twelve months. That’s huge! This is the biggest increase we’ve ever seen, compared to our hottest time (during 2007-2008) at 6%. In the $150,000 range, our previous price average, the number of homes increased by 12.5%. Homes over $150,000 increased by 39%. The median has increased here.
Additionally, 33% of listed homes weren’t sold. If your home isn’t priced correctly or in the right condition, it simply won’t sell.
Now is a great time to buy before interest rates increase. This, likewise, is an excellent opportunity for sellers to take advantage of new buyers. We’d be happy to serve your real estate needs in 2016. Give us a call or email today!
16 에피소드