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A key statistic for the housing market just hit a record low in Ada County

Total home sales increased 13.6 percent in Ada County and 11.8 percent in Canyon County in 2016, according to the Intermountain Multiple Listing service. This Status Homes house was built in Eagle.
Total home sales increased 13.6 percent in Ada County and 11.8 percent in Canyon County in 2016, according to the Intermountain Multiple Listing service. This Status Homes house was built in Eagle. kgreen@idahostatesman.com

The number of homes for sale in Ada County reached a record low in recent years in December, according to Boise Regional Realtors.

The number of homes on the market fell to 1,490 in Ada County, well below the previous low of 1,664 set in January 2013. The Intermountain Multiple Listing Service started tracking inventory in May 2006.

Canyon County’s inventory was 808, just 57 more than the area’s record low set in February 2016.

A shortage of existing homes — as opposed to newly constructed homes — drove the shortage. In both Ada and Canyon counties, existing home inventory in December was more than 26 percent less than the same month in 2015.

New construction inventory was down 1 percent in Ada County from the previous year and up 25.5 percent in Canyon County.

The winter months are traditionally slow, as many homeowners wait until spring to list homes, Katrina Wehr said. She’s the president of Boise regional Realtors and managing broker at Keller Williams Realty Boise.

“While builders are working to increase production to meet demand, we need current homeowners who are thinking about selling to make a move and free up existing inventory,” Wehr said.

The median home sale price in Ada County was $245,000 in December, up 5.6 percent from the previous year. In Canyon County, the median home price was $167,000, up 11.3 percent from December 2015.

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