Idaho Real Estate ~ Ada County Stats April ’09

The Ada County real estate market had a 12% increase in home sales compared to March.  This is the fourth straight month of increasing sales.  Compared to a year ago, sales are down 7%.  Forty-four percent of the Ada County home sales were foreclosure properties (short sale or bank-owned real estate).

The overall number of homes for sale (3900+/-) has stayed about the same allowing the absorption rate  (supply at current sales rate) to decrease.  The overall absorption rate in January was 16.2 months and in April 9.3 months.  The graph below shows the Ada County real estate absorption rate for the last four months for new construction and existing homes.

The median home price for existing homes was $168,000 and for new construction $185,425.  For existing homes, this is 19% below a year ago and for new construction 14% below.  The median home value is the midway point where 1/2 of the home sales occurred above, and half below that point.  It does NOT mean values declined that percentage although does reflect the downward pressure on prices.

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Data Source: IMLS. Information not guaranteed.