Posted by Jace Stolfo on Wednesday, November 12th, 2008 at 11:07am.
The Ada County real estate market showed relativity strong home sales compared to a year ago. Overall home sales were off only 8% despite the financial turmoil and fear in the markets we've seen for the last 6 weeks.
In terms of year-over-year comparison, 8% is actually the second best month we've seen since June 2006. That follows September were home sales increased from the previous year by 18%.
Inventory continues to shrink, there are about 10% less homes for sale in Ada County than a year ago. Most of that decrease is due to the new construction market which currently has 28% fewer listings than last year.
Both the average home price and median home price in Ada County are lower than last year. The largest percentage change is the median home price for new construction.
The following Real Estate statistics are from the Boise MLS (IMLS). They represent single family home sales in Ada County.
|Overall Home Sales||Oct-08||Oct-07||% Change|
|Median Home Price||$198,400||$227,000||-13%|
|Average Home Price||$233,695||$261,625||-11%|
|Existing Home Sales||Oct-08||Oct-07||% Change|
|Median Home Price||$195,000||$214,000||-9%|
|Average Home Price||$228,658||$241,363||-5%|
|New Home Sales||Oct-08||Oct-07||% Change|
|Median Home Price||$208,609||$312,575||-33%|
|Average Home Price||$249,594||$329,139||-24%|
For the most recent real estate statistics please go here.
Data Source: Boise MLS (Intermountain MLS). The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. This information contained in this post is for general market analysis. No representations or warranties are made as to the past or future appreciation or depreciation of property values.