Idaho Real Estate News – Ada County March 2016

29 04 2016
1.  Sales are UP 36% from last month, 12% up from this same month last year.  Chart A3 
 
2.  Pending sales are UP 15% from last month, up 23% from a year ago.   Chart A47, A48, & A49.
 
5.  The dollar volume was UP 35% from last month and 16% up from this same month last year.  Chart A5 
 
6.  Year to date sales units up 13% from a year ago Chart A4.  The year to date dollar volume is 19% higher this year.  Higher prices will continue in 2016.  Chart A6.  
7.  Median Price up for a home sold this month  – $235,500.  This is 0% up from last month; and a 6% increase from this same month last year!    Chart A10
 
9.  Resale Median up this month – $217,000.  This is up 2% from last month; and a 3% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
 
11.  Inventory is down 1% from last month and 17% 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 down. – 712 from 765 last month.  Last year at this time there were 736 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 up. – 1034 from 994 last month.   Last year at this time there were 1376 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.  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
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