Real Estate Market Update January 2015
Posted by Lisa Kohl on Friday, February 6th, 2015 at 8:57am
The January market is off to a strong start. Boise housing market conditions continue to improve. Stay up to date with our latest market report for Boise, ID and surrounding areas.
- Home sales in January 2015 totaled 425 in Ada County, up 1.67% from January 2014.
- Total dollar volume for sold homes is up 9% from last year.
- Housing supply – Days on Market finished the month at 70, identical to January of 2014. Last month DOM was 66.
- Broken down by type – In the new construction market 104 homes were sold; up 3% from last year. Existing home sales totaled 321; up 1% from last year.
- Currently there are 867 pending sales. Pending sales are a good predictor of future sales.
- In January the median home price was $223,900, up 8% from this time last year.
- The median home price in new construction finished the month at $313,773; a 13% increase from January 2014.
- The median home price for resale homes was $198,000. An increase of 4% from 2014.
- Total market inventory is 3.7 months of supply. A slight increase from the end of December.
Per the National Association of Realtors® – Even with low inventory, existing home sales jumped in December and rose above the annual rate for the sixth time in seven months. Nationally Median home prices in 2014 increased to the highest level since 2007.
Lisa Kohl is a professional Realtor in Boise, Idaho. Questions about the local real estate market? Contact us online or call (208) 391-4466.
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