Ada County sales for the first 5 months of the year outpaced sales during the same period last year by 4%, while 2018 outpaced 2017 by 13% during the same 5-month poeriod, signifying a slight slowing of sales activity.
The inventory of homes increased 20% from the end of May last year to the end of May this year, although there are only 41 days of finished, ready-to-occupy homes currently on the market.
While there are many communities across the country that are experiencing price declines, we are not one of them. The average price of homes we follow (which includes single family with up to 2 acres of land, condominiums and townhouses) increased by 14% over the last 12 months and the median price increased by 16%.
It's interesting to note in the chart below that homes priced above $1 million are selling much more quickly than they have in the recent past.