Monthly Market Reports

Group One Sotheby's International Realty March Market Report

MARCH MADNESS

The Ada County residential market went wild in March with sales up 11% compared to last March despite a drop of 11% in inventory during that time. 

The velocity in the market is amazing. Properties come on the market and are sold at a remarkable rate.  The month started with 1207 listings and ended with 1189 while 945 were sold.  We sell what we list and we sell them quickly.

Pending sales at the end of the month were 1,779, almost double the amount of sales that closed during the month. The future looks bright but we could use more inventory. Right now, we have only 20 days of homes that are ready to be occupied since three quarters of the new home inventory is not yet built.

The comparison of first quarter results is dramatic: sales in the first quarter of this year were 14% higher than sales were in the first quarter of last year when the winter weather had a great impact.

Posted by Brad Barker at 4/6/2018 6:05:00 AM
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