Ada County Idaho housing market through 2nd quarter 2013
Ada County Idaho housing market continues its march upward for the 2nd quarter of 2013*. With total housing units sold hitting 2,360 for the quarter. That is a 20.3% improvement over the same quarter one year ago. Year to date the sale held strong as well with 3,760 units sold compared with 3,344 one year ago. That puts the improvement over all at 12.4% improvement year to date.
With sales up, inventory is diminishing. Right now county wide we run at a 134 day supply in all categories, less than 4.5 month supply. Anything less than 6 month supply is considered a “seller’s market.”
The segment of the market that is on fire is new construction. They are 30% better year to day in number of home sold that a year ago. With fewer builders still in the game this puts the wait time out another 30 days to complete most build jobs.
Not only are total units up, but the price per unit is up also. In total homes; $192,934 is what you would pay one year ago and this year it would be more like $226,773. That’s an increase of $33,839 or 17.5%. New construction prices increase from $236,400 to $274,361, an increase of $37,961 or 16.1%.
This improvement is felt throughout all of Ada County, including Meridian.
*According to the Intermountain MLS
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