ADA County Real Estate News

8 04 2015
MARCH 2015 Inside Scoop – Ada County
If you like to keep score 14 vs. 5 :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 38% from last month, 21% up from this same month last year.  Wow! Chart A3
 
2.  Pending sales are UP 24% from last month, up 20% from a year ago. This is strong!  Chart A47, A48, & A49.
 
3.  Distressed sales were down this month.  Short Sales were 2% of the total sales this month.  Record high 01/12 23%.  REO sales were 4%.  Record High 12/10 at 40%. That makes 6% of the sales “distressed” this month.  Record high was 12/10 at 61%.  Chart A42
 
4.  Short Sales closing success % UP – 20% this month.  12/10 high of 22%.  Record Low 11/14 at 9%.  A53.
 
5.  The dollar volume was UP 44% from last month and 34% up from this same month last year.  Chart A5 
 
6.  Year to date sales units up 15% from a year ago Chart A4.  The year to date dollar volume is 25% 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.  
7.  Median Price UP for a home sold this month  – $222,700.  This is 1% up from last month; and a 12% increase from this same month last year!    Chart A10
9.  Resale Median UP this month – $210,000.  This is up 7% from last month; and a 16% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
14.  Single Month Measurement of Inventory Supply is down.  So demand is outpacing supply!  This month’s 3.0 from 3.8 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.
 
15.  Two Month Rolling Average of Inventory Supply is down.  Keep an eye on chart A28, especially the county wide number that I have put in bold!  This correlates the number of buyers with the available inventory using a “2 month rolling average” to calculate the sales.    This month’s 3.5 from 4.2 last month.  This is a critical benchmark number.  Last year at this time it was 4.4.  Chart A28
 
16.  New Construction Two Month Rolling Average of Inventory Supply is down.  Selling odds, using a “2 month rolling average” for sales is 6.1 from 7.1 last month.  February 2009 set a record high of 17.3 months of inventory. Last year at this time there was a 6.6 month inventory supply.  September 2005 was the peak of the seller’s market at 1.3.  Charts A30
17.  Resale Two Month Rolling Average of Inventory Supply is down.  Selling odds, using a “2 month rolling average” for sales is 2,8 from 3.4 last month.  February 2009 set a record high of 15.6. Last year at this time there were 3.8 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
18.  Final Sales Discount is down.  From the last asking price to final sales price, 1.2% from 1.5% last month.  Record low – 06/13 .6%.  Last year at this time it was 1.1%.  Chart 43
 
19.  Future Business Forecast is above 100%.  A54.  133%  – so closings next month will be above this month’s level.  Last year at this time it was 122%.
 
 
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