Overall, Boise is continuing to experience a strong and healthy housing market. Ada County is growing more rapidly of the two counties, with the average sales price up 10% ($24,535) from this time last year. And while the total number of closed homes for Ada County is down 29 units from last month, there was an overall growth of 163 units from July 2014. Canyon County’s inventory of both new and resale homes is down, while the average sales price is just slightly up from last year. Pending sales for all home types in both counties are looking up, which will be reflected on closing numbers in the coming months. Boise still has a high demand for homes, and it is proving difficult to keep homes in supply to match that intense demand! Total homes closed in July for both counties new and resale was 1,325 units, up by 15% (173 units) from July 2014. The total amount of homes that have closed for both counties is 7,292 units, which is up 17% (1,078 units) in comparison to last year.
Summary based on market reports sent by Mike Pennington.