Today, we're going to give you a quick recap of what the Anderson Group saw from the Idaho Falls market in 2014. Then, we'll discuss what recent trends mean for our market moving forward.
Overall, 2014 was a pretty interesting year. We expected prices to rise quite a bit after the market began its recovery in 2013, but they ended up remaining pretty steady throughout the year. For instance, take a look at the numbers from Bonneville County over the last two years:
- Houses sold:
- 2013: 1,398 sold
- 2014: 1,439 sold
- Median home price:
- 2013: $144,000
- 2014: $145,000
- We're expecting greater appreciation this year.
- Inventory
- Closed 2014 with a supply of 4.4 months.
- We're selling about 124 homes a month.
As you can see, not much changed between January of 2013 and January of 2014. Home sales and prices have remained pretty steady, and we're currently in a market that slightly favors sellers.
We're expecting our market to continue it's steady growth in 2015. A lot of new houses are coming onto the market, and interest rates are still low. If you have been on the fence about buying or selling, now is the time to act. We can't predict what 2015 will bring, but most experts are expecting rates to rise.
If you want to take advantage of the market before it cools off, give us a call or shoot us an email. We would love to help you achieve your real estate goals!
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