In Ada County, Idaho there were 3323 homes for sale with 630 closings. This is up 12% from the same time last year and 16% from two years ago. The majority of the sales were existing homes (484 sales) while new construction posted the single strongest month since May 2007 (146 sales). The median home price for existing homes was $155,900 and new construction $159,927.

The graph below charts Ada County, Idaho real estate sales in 2010 vs. 2009.

Overall real estate sales in Ada County have continued to outpace sales during the previous two years and have fallen just shy of 2007 levels.

In addition to sales outpacing 2008 & 2009, the overall number of homes has come down drastically.  In June ’08 there were 5098 homes for sale, in ’09 3770, and in ’10 3323.  This ratio of supply to demand (Absorption rate) has been very strong and in June was 5.3 months.

Although the median home price in Ada County, Idaho has risen over the last 3 months, foreclosures continue to be the drag on values.  Last month, 40.5% of the sales were foreclosures.

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As you can see, home sales have outpaced the same months in 2009 and last month almost matched sales in April ’07 when the market was still near peak prices.

Year-over-year Ada county real estate sales have outpaced the prior year since June ’09.  Below you can see the percentage increase in sales for the last 12 months.  In November, sales more than doubled the previous year (when the tax-credit was originally set to expire) and in April again surged to 57% more sales than April ’09.

Forty five percent of the home sales in Ada County were either short sale or bank-owned properties (search Idaho foreclosures).  Below you can see the breakdown for the foreclosure market share by MLS area.  Please be aware there was only 1 home sale in Garden City (=100%).  The areas with the smallest market share of foreclosures was again in North & NE Boise.

Data Source: Intermountain MLS. Information not guaranteed.  Search Ada County real estate.

The last four months have all had sales higher than the previous year. The graph below shows how the monthly sales in the Ada County real estate market have changed from the same month the previous year.

The following graph compares new and existing home sales for the past five months in the Ada County real estate market.  New home sales in September were the highest they’ve been in over a year.

Data source: MLS (IMLS).  Information not guaranteed.

In the Ada County real estate market, Eagle had the highest foreclosure percentage at 53% and Kuna had the lowest at 24%.

In August, the average home price in the Ada County real estate market was $204,200 and the median home price was $172,500. Home sales in the Ada County real estate market dipped from 559 in  June to 510 in July, but have come back up a bit  with 567 sales in August.

Information deemed reliable but not guaranteed.

The ratio of homes for sale verses the number selling (absorption rate) was still good at a 7.4 month supply.  This is second best supply rate we’ve seen in the last 2 years.

There’s still a high, but shrinking, number of foreclosures in Ada County with short sales making up about 20% of the market and Bank-Owned homes making up 4%.  These Idaho real estate foreclosures made up 33% of the July sales in Ada County.

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Data Source: Idaho MLS (IMLS).

Information not guaranteed.

Sales where up 23% in June from May with 559 homes sold.  The graph below shows the Ada County real estate sales by month since 2/09.

There were about 3700 homes for sale in Ada County verses about 5000 this time during the last two years.

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Data Source: Intermountain MLS (IMLS).  Information not guaranteed.

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.