Market Report....Home Prices in Canyon and Ada County Idaho

The Market seems to be improving price wise over all in both Canyon County and Ada County.

The Treasure Valley's prices increased so much in 2005 and 2006 that we created a false market.

In order to correct itself the market plummeted for the past few years.

This years numbers show that we seem to be stabilizing.

The market is even showing a hint of price increases. Will it go up as rapidly as it did 5-6 years ago?

No I don't believe it will ...but I know I am encouraged by even the little increases.

Because we have such a shortage of available homes for sale I feel that the market will start increasing soon. Many price categories have such a shortage of homes that when a newly listed home at the correct price comes on the market we are seeing multiple offers on the table.

The Multiple offers are exceeding list price. This in turn is creating an increase in prices overall.

Keep in mind that some of the appraisals are still coming in a bit on the low side. But we are seeing this less and less.

The below chart was provided by Hennessey Appraisals and data is from Intermountain Multiple Listing Service.