Ada County Real Estate Sales Up 43%

Posted by Jace

August 17, 2011

Ada County real estate sales were up 43% in July over the same time last-year. This was to be expected as Federal Government tax-credit ended June 30, 2010. Nonetheless, with 563 home sales that’s the strongest July since 2007.

You can see the graph below plots the Ada County real estate sales since 2006. Ada County is comprised of Boise, Meridian, Eagle, Kuna, and Star Idaho.

Ada County real estate home sales

The market share of foreclosures has been decreasing in Ada County. In July, 44% of the sales were short sales or bank-owned homes; down from almost 60% in March.

Ada County Foreclosure Market

Declining foreclosure market share during the summer months is a common trend so they may again increase in this fall/winter. Compared to the same time a year-ago, foreclosures accounted for 46.9% of sales.

When looking at the homes currently for sale in Ada County there’s a total of 2343 as of today. Of those, just 5% are bank-owned and 29% are short sales. Of those 684 short sales, 430 are “contingent short sales” which means they have an offer (62.8%). That should indicate to you the competitiveness of the foreclosure market.