APRIL 2016 HOME SALES STATISTICS – BOISE MSA

Published May 14, 2016

Resale Homes Data:
Ada County – 722 units closed, up by 29 homes or 4% over April 2015. The average price was $248,172, up by $13,365 or 6% over April 2015.

Canyon County – 298 units closed, up by 16 units over April 2015. The average price was $159,344, up by $16,523 or 12% over April 2015.

Pending new homes sales for both counties was 1,647 units at the end of April which is an increase of 169 units or 115 over April 2015.

Inventories in Ada County was 1,015 units, down by 433 units or a decrease of 30% compared to April 2015. Canyon County was at 348 homes, down by 237 units or a decrease of 41% compared to April 2015.

The month of supply of homes is up just slightly from last month. Distressed homes in Ada County is at 6.01% of the total available home. Canyon County is a 10.06%.

New Homes Data Data:
Ada County – 190 units closed, up by 79 homes or 71% over April 2015. The average price was $331,760, up by $23,499 or 8% over last April.

Canyon County – closed 46 homes, a increase of only one over last April. The average price was $222,828, an increase of $18,138 or 9% over April 2015.

Pending new homes sales for both counties was at 736 units at the end of April which is an increase of 220 homes or an increase of 43% over last year.

Inventories are up in Ada County to 477 homes. This is up by 52 units or 12% from last April.

Canyon County is at 109 units available. This is up by 15 units or a 16% increase over April 2015. The months of supply is up just slightly in Ada County and down slightly in Canyon County compared to last month.

The total of homes closed in both counties new and resale for April was 1,250 units. This is up by 119 units or 11% over April 2015. If we compare YTD numbers in 2016, they are up by 669 units or 20% better than 2015.

Summary: We continue to see a very robust housing market in the Boise MSA. There does not appear to be any slowdown in our numbers. Resale numbers in April are up 4% in Ada County and 6% in Canyon County for homes closed. However if we look at values Ada County is up by 6% over last April and Canyon County is up 12%. Very strong price increases. Pending resale homes for both counties was 1,647 units. This is up by 169 homes or 11% over April 2015. Once again very strong gains. If we look at available homes in Ada County, we had only 1,015 units, down a whopping 433 homes or 30% from last April. Canyon County likewise has 348 homes available at the end of April. This is down by 237 units or 41%. The month of supply in Ada County is at 1.60 and Canyon County is at 1.36 months. If you look at the affordable homes the inventory is nearly nonexistent. YTD total homes closed is up by 669 units or 20% better than last year at this time.

The new home market is simply on fire. Ada County closed homes in April is 71% better than April 2015. We closed an additional 79 units for the month. Canyon County was only up by 1 unit. When we look at the average sales prices Ada County is up by $23,499 over April 2015. Canyon County is up by $18,138 compared to April 2015. Total Pending sales for both counties at the end of April was 220 units or 43% over April 2015. These are astounding figures! Inventory is up in Ada County by 52 homes or 12% over last April. Canyon County is up by 15 units or 16%. The month of supply in Ada County is up slightly and Canyon County is down slightly compared to last month. We all understand that there must be a slow down or market correction at some point but for the immediate future does not seem to be in sight!!!