Ada County Real Estate Statistics Main Ada County Home Resale Market

For all of you that are "holding out"...NOW is the time. We have more homes for sale right now than we have ever had and in order to keep a balanced, healthy market we need to get through our inventory. If you've been kicking around the idea of buying a bigger home, now is an excellent time to buy up! We have 13 months worth of inventory on homes $300,000+. Now, this does not mean that if you are selling a home over $300K that you can expect it to take 13 months. The number of homes for sale divided by the number of homes selling per month = the number of months of inventory. NW and SE Boise are selling the quickest with 3 months of inventory.

Inventory increased by another 145 units crossing the 5,000 mark for an all-time record high! This is why the market feels the way it does, it is simply supplied and demand.

Average Cost of a home sold this month - $281,869 (last month, $287,163). This is 1% higher than last year for this month.

Resale inventory - 3393 up from 3196 last month. Last year at this time there were 1964 homes for sale in the resale market. 07/05 was the low point in resale inventory at 657.

New Construction inventory - 1650 down slightly from 1702 last month. Last year at this time there were 1589 new homes for sale. 09/05 was low at 666.

Posted by Burma Naylor at 7/16/2007 10:21:00 PM
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Comments (2)
Re:Ada County Real Estate Statistics
Please help me understand.
1. Rates are rising
2. Subprime borowers are out
3. Builder sentement is 27 (tank)
4. Inventory keeps rising

Why shouldn't we expect prices to keep falling?

Sorry but I just find your analysis shallow. Markets across the US are falling and this is the best 'buy now rallying cry you have?"

If I wanted cheerleading I could listen to NAR and Yun who have called the bottom every month for the last 8 months.

Don't get me wrong, I and I suppose others are very interested in GOOD analysis of the ADA county market, but if you notice the LACK of ANY postings here it might be a sign that your content is a bit weak.

Let's talk
1. Historical income vs. pricing in ADA
2. Rent vs buy ratios in ADA
3. Subprime, arm, alt A resets in ADA

I am open for a buy case, but please no silly cheerleading
Posted by on 7/17/2007 1:32 PM
Re:Ada County Real Estate Statistics
Sounds a little like, "Buy today before the prices go down tomorrow." I am holding out for 6 to 12 more months. The way I see it I have all the factors on my side. Oversupply, too many foreclosures in the valley, (have you seen the two page spread almost everyday) Of course the only wild card I see is interest rates. Of course that should help the price even more.
Posted by on 7/17/2007 7:07 PM
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