Market Watch

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Here’s a quick look at our Real Estate Market:

Residential closings were down 20% in Ada County and 15% in Canyon County this October compared to last October.  Pendings were down  15% in Ada County and 19% in Canyon County for the same period. 

Inventory climbed 13% in Ada County to an 8.4 month level and 11% in Canyon County to 7.8 months.  In Ada County the areas with the lowest months of inventory are Kuna and NW Meridian, while the area with the highest months of inventory is Garden City.  In Canyon County, the areas with the lowest months of inventory are SW and NW Caldwell, while the highest months of inventory are in Parma and Greenleaf.   

Closings over $300,000 accounted for 10.4% of all Ada County closings last month and just 2% of all Canyon County closings. 

New construction accounted for 14% of closings last month in Ada County and only 2% in Canyon County.  

The median price of property closed in the last twelve months is $156,000 in Ada County and $92,900 in Canyon County. 

48% of last month’s closings in Ada County were financially distressed properties compared to 45% year-to-date while 67% of last month’s closings in Canyon County were financially distressed compared to 65% year-to-date.

 

It appears that the market is a little stronger this quarter than we had expected and that a slow recovery is in progress.