- Category: Market Updates Market Updates
- Published: 05 December 2010 05 December 2010
- Hits: 16640 16640
Ada County Home Inventory – How has it changed in 6 Years?
Let’s take a quick glance of the available inventory of single-family homes in Ada County Idaho.
The absorption rate is calculated by taking the average number of homes sold per month, from a YTD total and dividing that number into the current number of homes available for sale now.
- December 1, 2005 1.51 months of supply
- December 1, 2006 4.9 months of supply
- December 1, 2007 8.22 months of supply
- December 1, 2008 10.61 months of supply
- December 1, 2009 8.16 months of supply
- December 1, 2010 6.52 months of supply
As you might recall, in 2005 & 2006, sellers were often times receiving multiple offers to buy their home and buyers would bid upwards of the asking price!
In 2008, times were tougher & it was difficult to sell homes. Now, we are reaching a supply of homes that should encourage buyers to get off the fence and take advantage of the Buying Tri-Fecta
1. Excellent inventory and lots of choices!
2. Lowest prices since 2002!
3. Amazing interest rates! A 1% drop in rate is equivalent of a 10% drop in price!
Now is a great time to buy Homes in Boise and Ada County Real Estate