Boise Real Estate Market Statistics for July 1-25th 2011

With less than a week to go I thought I would take a peek at how the Boise Real Estate Market is doing. In the Available and Pending areas things look pretty stable but the Closed Sales are making me a little bit nervous. So let us take a look at the current numbers for July 2011.

Available as of July 25th

# Available: 2579

# Vacant: 1326

# Short Sale: 726

# Bank Owned: 112

Median Asking Price: $179,900

Inventory is slightly down from June’s 2583 but other than that all other categories are almost identical.

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Pending Sales-as of July 25th

# Pending: 980

Median Asking Price: $159,900

Pending sales are up from June’s 926 but as you will see in the current closed sales, we need to see more of these pending  sales become closed. Median Asking Price remains the same month over month.

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Closed Sales- July 1-25 2011

# Closed: 375

# Short Sales: 57

# Bank Owned: 84

Median Sales Price: $149,900

Days on Market: 42

We are going to need quite a few Pending Sales to close in order to catch up with June’s 630 Closed Sales. This July has been pretty quite but it would be nice to see the closed numbers get in the high 500’s. Good news is that so far the Median Sold Price is staying steady.

I will check back next week to see how the month of July finished out. Fingers crossed, we do not want to see a pullback in the market right now. We have had over four straight months of steady improvement and I would hate to see that end.

If you would like to see properties that are available or would like to know what your home is currently worth please go to my website (no sign in required): www.BoiseRealEstateChick.com to contact me for further information.

  1. Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors®.

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