January 2013 Market Statistics

Where is the Inventory?

January’s closing were down 9% in Ada County from last January, the first decline in same-month sales in recent memory. And yet inventory also declined 4% from the start of January and 13% for the trailing twelve months, leaving us with only 2.7 months of supply.

Canyon County’s closings were also down, 12%, from last January while inventory also fell by 1% during the month and by 11% during the year, leaving us with 3.2 months of properties.

It appears that our lack of inventory is causing a slowdown in the market!  This should create upward pressure on prices and more multiple offers on properties. But we definitely need more residential properties on the market for the amount of demand we are experiencing.

It appears that distressed properties are gradually disappearing and will be a less significant source of inventory in the future.  As prices continue to rise, more inventory can come from the resale market, but the biggest source of near-term supply is going to come from new construction.

If you are a buyer and you find a property that appeals to you, act quickly.  If you delay, you may lose an opportunity to buy now and get a better price than you will be able to in the future. If you are thinking of selling, put your property on the market You may be surprised by the price you can get. And then take advantage of the low interest rates to own the home of your dreams.

Market Statistics
Click on the links below to download the latest Market Statistics.

Legend

Market – These include homes of all ages and new construction.
Existing - This includes all homes older than 1 year and excludes new construction data.
New Construction - This includes new, to be built, and under construction homes.

Ada County Area Map
Canyon County Area Map

  Market Existing New Const
Ada County PDF PDF PDF
North Boise, 100 PDF PDF PDF
Northeast Boise, 200 PDF PDF PDF
Southeast Boise, 300 PDF PDF PDF
Boise Bench, 400 PDF PDF PDF
Southwest Boise, 500 PDF PDF PDF
SW Boise/Meridian, 550 PDF PDF PDF
West Boise, 600 PDF PDF PDF
West Boise/Meridian, 650 PDF PDF PDF
Garden City, 700 PDF PDF PDF
NW Boise/Garden City, 800 PDF PDF PDF
Eagle, 900 PDF PDF PDF
Star/Meridian, 950 PDF PDF PDF
Southeast Meridian, 1000 PDF PDF PDF
Southwest Meridian, 1010 PDF PDF PDF
Northeast Meridian, 1020 PDF PDF PDF
Northwest Meridian, 1030 PDF PDF PDF
Kuna, 1100 PDF PDF PDF
       
  Market Existing New Const
Canyon County PDF PDF PDF
Nampa (83687), 1250 PDF PDF PDF
Nampa (83686), 1260 PDF PDF PDF
Melba, 1265 PDF PDF PDF
Nampa (83651), 1270 PDF PDF PDF
NW Freeway, 1275 PDF PDF PDF
SW Freeway, 1280 PDF PDF PDF
Middleton, 1285 PDF PDF PDF
Canyon Other, 1290 PDF PDF PDF
Parma, 1292 PDF PDF PDF
Wilder, 1293 PDF PDF PDF
Greenleaf, 1294 PDF PDF PDF
 

 

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