We have all heard about the housing market boom in the big cities and urban areas across the country. Have you wondered what our market here in Idaho and Lewis county is doing?
According to Emily Musick, associate broker GRI, United Country – Musick & Sons Auction & Real Estate Services, the first quarter of 2017 our area sold 53 homes. The average sales price was $166,000. While that may seem low, prices have jumped up from 2016 first quarter of aver-age home price of $134,500. The high sales for the 1st quarter 2017 (Jan- April) was $399,900 up almost $100,000 from the 2016 first quarter high sales price.
Year to date we have a 15-month absorption rate and an average days on market of 296. With interest rates hovering around 4 percent our market is seen moving in a positive direction.
If you are thinking of buying or selling your home, this summer is a great time to get in the market.