Boise Real Estate Sales in February | Month over Month Comparison

Posted by Jace Stolfo on Thursday, April 12th, 2012 at 3:26pm.

The Boise real estate market in February 2012 was much stronger when compared to 2011 and 2010.  North Boise home sales showed one of the most significant increases with an increase in sales of 58%.  Below is the graph for real estate sales in Boise, month-over-month, for the last 3 years. Home Sales in Boise by Area | February Comparisons for 2010, 2011 and 2012 As seen below, Ada County home sales for February have increased slightly since 2010.  Sales for February 2010 totaled 296; there were 344 sales in February 2011 and 357 sales in February 2012.  These increases may not be significant on their own; however, it must be noted that these increases occurred during a time of declining inventory.  For example, in February 2012 there were 1,365 homes on the market in all of Ada County, the second lowest number recorded in the last 6 years. Compare this to February 2010 when there were 2,396 homes actively on the market in Ada County.  This is  a decrease of 1,031 homes (-43%). Comparison of Active Properties and Sold Properties for Ada County | Month over Month Comparison for 2012, 2011 and 2010 With increasing sales and declining inventory in the Boise real estate market, the absorption rate has steadily decreased.  In February 2012, the absorption rate was only 3.8 months compared to an absorption rate of 8.1 months in February 2010.   A lower absorption rate reflects more demand and less supply. disclaimer

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