Single Family home sales in Ada County increased in March, climbing back over the 400 unit level, with 430 sales closed for the month. Last year's 711 units was the third highest March on record, so the comparison is tough. And while 430 is still a fairly weak number, it is well over January's low of 302. The sales numbers are proving out what agents have been saying, that traffic and buyer interest is increasing. 

Also interesting and encouraging for the month is another strong increase in the pending contracts figure. We are starting April with 694 contracts pending, well up from March, which had 575. Buyers are finding homes, and contracts are being accepted.  One interesting note, in a quick look through the pending sales I can only find 12 that are shown as short sales.

There has been some talk that much of the increase in pending contracts is due to short sales taking so long to be approved and closed, but that doesn't appear to be the case to me.  Inventory levels continue to stay high as well however, with 4270 active listings on the market in Ada county. Ada and Canyon combined show a total of 6280 Single Family homes on the market.  Adding in single family homes with acreage, townhomes, and condos gives you a choice of 7809 listings to choose from here in the Treasure Valley.  With that kind overhang on the market, we will not see firming prices any time soon. When your agent talks about it being a great time to buy property, this is what he means.  There is a lot to choose from, and prices are soft. Really well kept and well priced homes are selling. Homes with problems, or that aren't priced to this market are sitting.