Search IDX Listings by using an Advanced Interactive Map.
by Jace Stolfo
on Monday, November 18th, 2013 at 12:35pm.
There were 615 homes sold in Ada County in October of 2013. This is down slightly from September, which is normal, heading into the winter months. Historically, December & January post the fewest sales. This is partly due to people beginning to focus more on the holiday season rather than making a location change. That trend normally reveres in about February. In 2013, February sales had a 22% increase over January as you can see in the graph below.
Of the 615 Homes sold in October, 137 of them were new construction, and 478 of them were existing homes. In other words, 29% of sold homes were new, and 71% were existing homes. During 2013, on average, 26% of the monthly sales were new and 74% were existing. This proportion stays pretty consistent throughout the year.
As you can see below, in Ada County, the average absorption rate is lower in 2013 than 2012 and 2011. In October the absorption rate was 4.1. This means that it takes 4.1 months for the entire home inventory to sell if no more homes came on the market. It’s a measure to gage the supply and demand in a market. So far in 2013 the average absorption rate is 3.25 in comparison to 2012 being 3.6 and in 2011, 4.6.