Ada County Real Estate – March 2009

Idaho homes sales continued to pick up steam in March posting 369 sales verses only 265 last month.  Compared to a year ago sales are down about 11% and the median price down 17% ($171,490).

New construction had 71 sold homes in Ada county while existing homes had 298.  The total number of homes on the market was 3852 representing a 10 month supply of homes, the lowest in about 6 months.

Most of the home sales are occurring in NW Meridian (15.72% Market share), SW Boise/Meridian (13.55%), West Boise/Garden City (9.49%).  These areas also have some of the highest percentage of distressed sales that is likely contributing to the large market share of sales.

For the third month in a row, march set a record for the number of Notice of Defaults, the formal start to the foreclosure process.  Ada County saw a 5.3 percent rise in the number of foreclosures last month with 449 (Source: Idaho Data Providers).

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Data Source: IMLS. Information not guaranteed.