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Canyon and Ada County Idaho Market Snapshot for July 2017

By August 14, 2017 January 23rd, 2018 Real Estate News

Ada and Canyon County Housing Inventory Down for 34 Consecutive Months

 

Inventory of existing homes in Ada County was at 1,702 in October 2014 and 1,238 in July 2017, a decrease of 27.3%. In comparison, there were 628 pending sales in October 2014 versus 1,078 in July 2017, an increase of 71.7%. Pending sales are homes under contract that should close within 30-90 days.

Looking at months supply of existing inventory — which takes the number of homes for sale divided by the average number of sales by month — there were 3.2 months in October 2014 in Ada County to 1.4 months in July 2017, a drop of 56.3%. (A balanced market—not favoring buyers or sellers—is typically between 4-6 months supply of inventory.)

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Canyon and Ada County Idaho Market Snapshot for July 2017Canyon and Ada County Idaho Market Snapshot for July 2017

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