Goodbye summer months! With today officially being the last day of summer we can safely say that even though the summer market held strong, it didn’t match the frenzy that we saw last year. Here are some of the numbers for what the Boise, Idaho real estate market saw in August.
Ada county saw a decrease of 12% in single family home sales in August 2014 compared to July 2013.
In August, sales of homes priced above $160,000 showed increases in every price category. The reason our overall sales are down is because sales of homes in the five categories priced below $159,999 are down anywhere from 15% ($120,000 to $159,999) to 200% (70,000 to $89,999).
The Average Days on Market in August were 53. There were 115 New homes sold in August, down 25% from this time last year. There were 622 existing home sales.
August median home price was $218,990.
New Homes median price was $309,550.
Sellers are defiantly testing the water, the number of houses available for sale at the end of August was 20% more than August 2013.
There was a consistent percentage of growth in all price categories for August; with the exception of homes priced above $250,000 which showed very little, if any growth.
The price point with the largest increase month-over-month is $120,000 – $160,000
The price categories in shortest supply are $100,000 to $119,000 which has 1.9 months; and $120,000 – $159,000 which has 2.5 months.
There is great news for first time buyers, we have more inventory coming online in the $160,000 and under price range.
You can read more about these stats by clicking here.