The March sales numbers are in, which show an increase in number of homes sold over last month in both Ada and Canyon counties. While both counties are above last month's sales, Ada County is below March 2010 with Canyon County slightly above.
Ada county had 516 units sold last month, 318 in Februrary and 567 in March 2010. Canyon's numbers are 275 last month, 232 the previous month with 270 a year ago. Reported pending sales are following the same patterns in both counties, with the March numbers above February but below March of 2010.
The March median price for Ada County was reported as $136,500, down from $149,748 in February and $157,900 a year ago March. The story is much the same in Canyon County with the median price slipping to $80,000 in March from $82,250 the month before and $97,650 in March of 2010.
Likely some of the best news out of this report is that the amount of inventory is shrinking, in Ada County it now stands at 5.9 months, which historically defines a "seller's market". With inventory this low, and not likely to increase quickly, prices should stabilize.
Statistics courtesy of the IMLS
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