Boise Real Estate Market

Below are the Boise Real Estate Market Stats – Meridian-November 2011. These numbers represent single family/single family with acreage properties. All numbers are based on data from the Multiple Listing Service.

Available Homes

# Available: 519

# Vacant: 300 (58%)

# Short Sales: 167 (32%)

# Bank Owned: 22 (4%)

Median Asking Price: $171,990

Inventory is down again and has been the case for well over a year now. Percentage of distressed properties available is down as well (39% in October).  Median Asking Price is down from October’s $175.9K

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Pending Sales

# Pending: 205

Median Asking Price: $182,990

Although the number of Pending Sales are down from October’s  232, the Median Asking Price is way up ($164.9K in October).

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Closed Sales – November 2010

# Closed: 129

# Short Sales: 18 (14%)

# Bank Owned: 54 (42%)

Median Sales Price: $159,988

Median Days on Market: 49

Closed Sales - November 2011

# Closed Sales: 141

# Short Sales: 24 (17%)

# Bank Owned: 39 (28%)

Median Days on Market: $159k

Median Days on Market: 41

The number of Closed Sales for November are up year over year but are down from October’s  135. The percentage of distressed properties that sold are down year over year (56% in 2010 and 45% in 2011) and down by 1% from October. The Median Sales Price is almost unchanged year over year and month over month ($160k in October).

Considering that this is the traditional start to the slow time of the year, November does not look too bad for Meridian. The Inventory is down, Sold Prices are staying steady and the percentage of distressed properties is coming down (especially year over year). All good news for the real estate market as we continue back towards normal!

If you would like to see what homes are currently selling for in the Meridian or Boise Real Estate Market, please go to my website (no sign in required): www.BosieRealEstateChick.com or send me an-e-mail: mary@BoiseRealEstateChick.com