Boise Real Estate Market

Below are the Boise Real Estate Market Statistics for the month of January 2012. These numbers include all of ADA County (Boise, Meridian, Eagle, Kuna, and Star). Numbers are based on single family/single family with acreage from the Intermountain Multiple Listing Service.

Available Homes

# Available: 1939

# Vacant: 1,086 (56%)

# Short Sale: 579 (30%)

# Bank Owned: 96 (5%)

Median Asking Price: $179,900

Inventory dropped again and is down by 15% since this same time last year (2283 homes on the market in 2011). The median asking price has stayed the same month over month but year over year it is way up ($155k in Jan. 2011). Percentage of properties that are distressed remained the same month over month at 35%.

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Pending Sales

# Pending: 803

Median Asking Price: $159,900

Pending Sales are up significantly month over month (666 in December) and year over year (584- January 2011). Asking price is up as well month over month ($150k in December) and for year over year ($150K- January 2011).

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Closed Sales – January 2011

# Closed: 362

# Short Sale: 70 (19%)

# Bank Owned: 136  (38%)

Median Sales Price: $134,950

Median Days on Market: 54

Closed Sales– January 2012

# Closed: 393

# Short Sale: 91 (23%)

# Bank Owned: 118 (30%)

Median Sales Price:$139,000

Median Days on Market: 57

Number of closed sales are down month over month (468 in December) but are up for year over year.  Percentage of distressed sales are down from a year ago (57% -Jan. 2011) but are up from last month (49% December). This could explain why the closed sales price is down from last month ($145K -December). As we have seen, when the percentage of distressed properties are high, the median sales price tends to go down. Good news is that the January 2012  closed sales price is still higher than a year ago. Bad news is that it is closer to last year than to last month!

If you would like to see what homes are currently going for in the Boise Real Estate Market, please go to my web site: http://www.BoiseRealEstateChick.com

or feel free to send me an e-mail if you have any questions: mary@BoiseRealEstateChick.com