February 2015 Treasure Valley Real Estate Report

Single-family home sales in February 2015 were 507 in Ada County, an increase of 10.41% compared to February 2014.

Days on Market were 67 that is slightly down from 70 days last month.

New homes sold in February totaled 109; up 8.12% from last year.

Existing home sales were 398; up 11.11% from 2014.

February median home price was $224,900 with a 9.86% increase over 2014.

With continued increase over last year, Existing home price was $196,750 with 11.25% change. New home median price was $305,000 with a slight decrease of -1.45% from last year.

We had a very slight increase with months of inventory available 3.8 months of inventory. As we head toward spring and summer, we could use an increase in inventory.

February is typically our weakest month for median home price. February 2015 was pretty strong.  This should continue into the summer.

Bottom line…it’s going to be a complicated first quarter for real estate.