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by Jace Stolfo
on Wednesday, March 18th, 2009 at 8:24pm.
The Ada County real estate market had a slight increase in home sales compared to last month. February had a total of 265 real estate sales while January had 232. Existing home sales were down 15.5% from a year ago. The new construction market had a much larger drop with a 48.39% decline.
The graph below shows the number of existing and new construction home sales since January 2008.
The Ada County real estate absorption rate is graphed below. For existing homes in February there was 13.9 months of supply and 17.3 months for new homes.
Ada County real estate sales in March are picking up steam. The first half of March has recorded 170 home sales versus 138 during the first half of last month.
The Ada County real estate market consists of Boise, Meridian, Eagle, Kuna, and Star Idaho.
Data Source: Boise MLS (IMLS). Information not guaranteed.