Market Statistics from Sue Dahlgren

FEBRUARY 2016 MARKET REPORT by Sue Dahlgren at Group One Real Estate

A GOOD START

February continued the New Year’s good start. Sales were up 7% compared to last February and up over 9% for the first two months of the year. Pending contracts at the end of February increased 28% compared to the end of last February, so the market improvement should continue as we enter the prime spring selling months.

Despite the increase in sales, inventory improved 3% compared to this time last year. Resale inventory increased 14% over the previous month, which is good news. Our resale inventory is down to 42 days and we need to bring more resale properties onto the market in order to have a vibrant selling season. New home inventory, on the other hand, decreased 7% since the end of January, which is also good news. The supply of new homes is down to 5.4 months, lower than in any month last year. A good pace of new home sales will encourage builders to continue to build homes, which will provide a wider array of choices for buyers.

With demand outpacing supply, prices continue to rise, although it’s interesting to note that the increase in the average resale price, at 8.4%, was higher than the average price increase for new homes at 5.7%. Again, this is good news since resale homes are selling for about 38% less than new homes.Â

All signs are positive for a good year in 2016. There is legitimate concern about whether prices are getting too high, but our unit sales continue to climb and the highest priced homes, new homes, have been selling faster than replacement. So let’s bring on resale inventory: there seems to be plenty of room for price increases and we need more resale choices for our buyers.

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

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

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