With no sign of a slowdown in home sales, historical data going back to 2004 shows that homes sold in June, July, and August bring the highest prices.  Demand remains strong but the market is still lacking supply.  It does look like there has been a slight improvement recently due to an influx of sellers who were waiting to list their home in the Summer. 

Listed below are the current Ada County market statistics for May 2017 compared to May 2016: 

  • Closed sales – 1,005 (down 2.7%)
  • Median Sales Price (including new construction) - $264,000 (up 9.5%)
  • Days on the Market - 33 (down 9.5%)
  • Pending Transactions - 1,805 (down 2.5%) 
  • Inventory: 1,866 (down 11.7%) 
  • Months of Supply - 2 (down 9.1%)

We also wanted to show how the number of months supply of inventory fluctuates based on the price range.  The current month’s supply condition in each price range is as follows: 

  • $159,999 – or less: 0.5 months
  • $160,000 - $199,999: 0.6 months
  • $200,000 - $249,499: 1.3 months 
  • $250,000 - $299,999: 2.2 months
  • $300,000 - 399,999: 2.5 months
  • $400,000 - 499,999: 3 months
  • $500,000 - $699,999: 3.9 months

 

 If you’re interested in knowing more about the current state of the market, check out these informativeMay 2017 ?Boise Regional Realtors Market Reports for both Ada and Canyon Counties.