Boone County Real Estate Market Statistics
The 2016 year end Boone County Market Statistics have been posted for your review. The number of single family homes sales from 2015 to 2016 remained even, as was the 4th quarter. Existing home sales increased less than 1% while new construction homes decreased by 7%. The average and median price of a single-family home in Boone County increased by 2% again lead by existing homes while new construction homes prices declined by 4% for the median price and 2% for the average price.
December home sales were even with last year at 142 units. Prices increased in December, with a 14% increase in the average price and an 18% increase of the median price of a single-family home. Days on market and cumulative days on market decreased as did the months’ supply of home inventory on the market, the result of 30 fewer homes on the market for December.
Looking ahead into 2017, pending listings increased by 10% for the month of December, indicating the number of sold homes for January will be above last year. The market seems to be in great shape for Sellers as we move closer to the spring market, where the past two years many Sellers saw multiple offers on their properties from the months of April through June. All indications show we will probably see a repeat of an active spring market that may start early again in 2017.
These market statistics provide insight on the real estate market in Boone County. These statistics are helpful to you if you are considering buying or selling a home in the local real estate market. Don’t forget, if you need a report tailored to your home, neighborhood or another area you are interested in, please let me know.