For over five years, my family and I lived in the Rivers End subdivision. I have a very personal interest in how both Rivers End and Island Woods are fairing. And though I recently sold our home (you can check it out at this website I built to sell it, click here), I still strongly care about these neighborhoods.
Last week, I dove into the numbers to see how home sales were going. Here are a couple of things that I found as the first half of 2018 comes to a close.
First, things were very much the same in the first half of 2018 compared to 2017. Prices are up about 1% on average while the number of days on market has dropped from 51 days to 44 days. While the sold prices have not jumped as much as the popular media might lead you to believe, the time that it takes to sell your home has gone down by a week.
Second, comparing similar homes in Ada County to our neighborhood, three things stand out. Prices have risen faster in our neighborhood, homes sell for more per square foot, but the time it takes to sell is not as fast.
On average, similar homes (style, size and price points) only went up about 0.1% in Ada County compared to last year.
In Ada County, these homes sell for about $161/sf. In our neighborhood, our homes sell for $166/sf.
The number of days on market for similar Ada County homes dropped from 38 days to 32 days. This is about 2 weeks faster than in our neighborhood.
In short, if you own a home in Rivers End or Island Woods, your home is holding its value. If you are selling, you may have to wait a little longer than our Ada County counterparts. But homes are moving quicker in our neighborhood than they did last year.
*Data provided by the Intermountain MLS.