Tuesday, February 6, 2018

Real estate marketing numbers show slight cooldown in 2017

The numbers for 2017 are finally in from the Snake River Multiple Listing Service, which keeps track of home sales and prices for eastern Idaho.

The results for Bonnneville County show a market that has slowed down somewhat, but it would be hard to keep the pace of 2016, the most go-go year ever.

Here’s what the number crunching reveals …

Homes Sold: 1,986 in 2016, 1,766 in 2017, a decline of 11 percent.

Average Days on Market: 57 in 2016, 48 in 2017. Homes were selling faster on average.

Median Price: $163,783 in 2016, $174,527 in 2017. Homes were selling for more.

New Listings: 2,663 in 2016, 2,426 in 2017.

If these numbers suggest anything to me, is that 2016 was a year in which a lot of inventory got unloaded while 2017 was healthy and still a seller’s market.

For the sake of historical perspective, let’s take a look at 2006, the biggest year before the crash.

Homes Sold: 1,788
Average Days on Market: 95
Median Price: $143,717
New Listings: 1,863

And, lastly, here are the numbers from 2011, which represents rock bottom.

Homes Sold: 987
Average Days on Market: 110
Median Price: $133,879
New Listings: 2,049