Boise Real Estate Market Statistics for March 2012

Below is the Boise real estate market statistics for March 2012. These numbers include all of ADA County (Boise, Meridian, Eagle. Star, and Kuna). The numbers are based on input from the Multiple Listing Service for single family/single family on acreage homes.

Available Homes

# Available: 1870

# Vacant: 927 (50%)

# Short Sale: 567 (30%)

# Bank Owned: 51 (3%)

Median Asking Price: $199,000

Inventory continues to go down, while we are seeing the Median Asking Price continuing to creep up. Currently, only 33% of the active listings are distressed sales, with only 3% being bank owned.

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Pending Sales

# Pending: 1102

Median Asking Price: $165,011

The number of Pending Sales are higher than they have ever been since I started tracking in October of 2010. The Median Sales Price is also up from last months $160K.

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Closed Sales – March 2011

# Closed: 548

# Short Sale: 109 (20%)

# Bank Owned: 209 (38%)

Median Sales Price: $135,000

Median Days on Market: 60

 

Closed Sales– March 2012

# Closed: 512

# Short Sale: 104 (20%)

# Bank Owned: 124 (24%)

Median Sales Price: $152,750

Median Days on Market: 39

While the number of Closed Sales is up for this month over month, the Median Sales Price is down slighlty ($156,750 in February) but we are way up from out year over year number. As a matter of fact at this pint last year we actually hit bottom at $135K. Congratulations to anyone who bought in March and April of 2011! You officially bought at market bottom!

We are continuing to see the shift into a sellers market because of low inventory and seasonal demand. Buyers (and their agents) are becoming increasingly frustrated at having no homes to choose from and when one does come on the market, they have to get in line to see it and make sure to bid above asking price.

With the Pending Sales numbers being so high, I am fully expecting that April Closed Sales numbers are going to be very good. If you would like to see what homes are going for in the Boise area please go to my web site: www.BoiseRealEstateChick.com

 

 

 

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