Home Sales Continue to Improve
Although homes sales in July fell below the highs of June, July sales are still at their highest levels since the housing peak of 2007.
167 newly constructed homes were sold in the Boise area in July which is a 2 year high. 681 existing homes were sold which is slightly above the average for the year.
Ada and Canyon Counties also say home prices increased in July when compared to 2011. In Ada County, existing homes sold for an average of $182,000—up 9% from 2011. In Canyon County (has had less re-sales due to smaller existing inventory) the average existing home sale price was $108,000—up 22% from this same time last year. Wow, the housing market is finally starting to mend!
Since January 1 of 2012, 157 new homes have changed hands in Canyon County. This already surpasses home sales from all of 2011. However, new construction sales in Canyon County (Idaho 2nd most populous area) are well below the pace of ’05 & ’06 when nearly 2000 homes were sold annually.
As of the first of August, Ada County had slightly more than 3 months inventory of existing homes at the current sales rate. Canyon County has less than a 3 months’ supply of inventory.
**Interested in obtaining a free pricing evaluation for your home? If so, please call or email me today! 208-869-3499 . . .