ADA County Real Estate News

8 10 2015
 September 2015 Inside Scoop – Ada County
If you like to keep score 6 vs. 13 :o(
(I am only counting an item as “Positive” if the first part is in bold)
Positive News in in Bold
 
1.  Sales are down 3% from last month, 27% up from this same month last year.  Wow! Chart A3
 
2.  Pending sales are down 4% from last month, up 31% from a year ago.  Wow, this is huge!  Chart A47, A48, & A49.
 
4.  Short Sales closing success % UP – 18% this month.  12/10 high of 22%.  Record Low 11/14 at 9%.  A53.
 
5.  The dollar volume was down 4% from last month and 39% up from this same month last year.  Chart A5 
 
6.  Year to date sales units up 19% from a year ago Chart A4.  The year to date dollar volume is 28% higher this year.  Much bigger price increases this year cp. to 2014!  Chart A6.  
7.  Median Price down for a home sold this month  – $230,000.  This is 1% down from last month; and a 12% increase from this same month last year!    Chart A10
10.  Resale Affordability unchanged from last month- now 16%.  Jan. 2005 when I started tracking Affordability it took 19% of a median income to buy a median priced resale home at the then current Freddie Mac interest rate PITI.  06/06 was the high (most Unaffordable!) at 30%  Record for the most “affordable month” 01/12 at 10.9%.   Charts A39, A40, and A41.
 
11.  Inventory is down 0% from last month and 15% lower than last year at this time.  This is a very significant number.  Watch this, if it stays this much below last year’s levels price increases will heat up even more.  Charts A16 & A17
 
12.  New Construction inventory up. – 783 from 752 last month.  Last year at this time there were 870 new homes for sale.  Record high 09/06 at 1890!  Record low  06/13 at 494 but it has surged up since then.  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
 
13.  Resale inventory is down. – 1672 from 1709 last month.   Last year at this time there were 2024 resale homes for sale!!!.  July 2008 was the all time record high at 3920!   July 2005 was the low point in resale inventory at 657.  Chart A21
16.  New Construction Two Month Rolling Average of Inventory Supply is up.  Selling odds, using a “2 month rolling average” for sales is 5.7 from 5.1 last month.  February 2009 set a record high of 17.3 months of inventory. Last year at this time there was a 7.0 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 up.  Selling odds, using a “2 month rolling average” for sales is 2.4 from 2.2 last month.  February 2009 set a record high of 15.6. Last year at this time there were 3.5 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
18.  Final Sales Discount is unchanged.  From the last asking price to final sales price, 1.1% from 1.1% last month.  Record low – 06/13 .6%.  Last year at this time it was 1.5%.  Chart 43
 
 
 
Advertisement

Actions

Information

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s




%d bloggers like this: