ADA County Real Estate News

17 03 2015
FEBRUARY 2015 Inside Scoop – Ada County
If you like to keep score 9 vs. 10 :o(
(I am only counting an item as “Positive” if the first part is in bold)
Positive News in in Bold
1.  Sales are UP 22% from last month, 23% up from this same month last year.  Wow! Chart A3
2.  Pending sales are UP 21% from last month, up 13% from a year ago. This is strong!  Chart A47, A48, & A49.
3.  Distressed sales were down this month.  Short Sales were 3% of the total sales this month.  Record high 01/12 23%.  REO sales were 5%.  Record High 12/10 at 40%. That makes 8% of the sales “distressed” this month.  Record high was 12/10 at 61%.  
5.  The dollar volume was UP 22% from last month and 37% up from this same month last year.  Chart A5 
6.  Year to date sales units up 12% from a year ago Chart A4.  The year to date dollar volume is 22% higher this year.  At the class on 2.18 didn’t we all say that prices in 2015 would rise at a greater rate than 2014!  Chart A6.  
9.  Resale Median UP this month – $196,750.  This is up 2% from last month; and a 16% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
11.  Inventory is up 2% from last month and 6% lower than last year at this time.  Watch this, if it stays below last year’s levels price increases will heat up again.  Well they already have!  Charts A16 & A17
12.  New Construction inventory down. – 725 from 793 last month.  Last year at this time there were 743 new homes for sale.  So the inventory increase is on the resale side.  New Construction inventory has dropped for 63 of the last 101 months since reaching a high of 1890 September 2006.  Record low  0613 at 494 but it has surged up since then – Builders Beware!  I have only been tracking it since January of 2005; so 6/13 is at least a 9 year low for New Construction inventory in Ada County! Chart A19
14.  Single Month Measurement of Inventory Supply is down.  This month’s 3.8 from 4.6 month’s of inventory last month.  This is a calculation of single month snaps – inventory for a particular month divided by that month’s sales – no averaging.  January 2009 set the all time new record high at 16.7 months of inventory.  . .Record low 05/13 at 2.3!  Chart A26.
17.  Resale Two Month Rolling Average of Inventory Supply is up.  Selling odds, using a “2 month rolling average” for sales is 3.4 from 2.8 last month.  February 2009 set a record high of 15.6. Last year at this time there were 4.3 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
19.  Future Business Forecast is above 100%.  A54.  135%  – so closings next month will be above this month’s level.  Last year at this time it was 122%.



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