The market is still trying to redefine itself with a lot of volatility. Inventory has dropped nearly 1,000 units (from 3,106 homes in April 2010 to 2,123 in April of this year). We are seeing multiple offers on most listings that are priced well within the first week on the market and many REO properties are being sold for over list price.
As of May 14th, there were 2,413 single family homes (not condo's, townhouses, mobiles or acreage properties) noted for sale in Ada County. When you take out the properties that had contingent offers and the To Be Built listings (new homes that are not yet even under construction) you drop the inventory to 1,768 homes.
In the past 30 days, we have successfully closed 583 properties so that means there is only a 3 month supply of homes on the market which is typically a sign of healthy supply and demand.
Company: Progressive Realty Corporation
Phone: 208-573-0471
Email: goownit at gmail dot com
