Canyon County Real Estate Market Statistics – March 2012

Below are the Canyon County Real Estate Market Statistics for March 2012. Canyon County is made up of Caldwell, Nampa, Middleton, and the surrounding smaller areas. These numbers are based on data from the Multiple Listing Service for single family/single family with acreage homes that are available, pending, or have sold.

Available Homes

# Available: 907

# Vacant: 430 (47%)

# Short Sale: 399 (44%)

# Bank Owned: 49 (5%)

Median Asking Price: $110,000

Inventory continues to go down (954 in February) but Asking Price went up ( $108.9K February). With the start of the spring market we will see if inventory goes up but so far it is not looking that way. This could mean a continued increase in the Asking Price and shorter days on market.

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Pending Sales

# Pending: 484

Median Asking Price: $98,950

Here again, we see Pending Sales are up as well as the Asking Price. In February, the number of Pending Sales was 405 and the Median Asking Price was $92,990.

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Closed Sales – March 2011

# Closed: 298

# Short Sale: 54 (18%)

# Bank Owned: 159 (53%)

Median Sales Price: $80,000

Median Days on Market: 57

 

Closed Sales– March 2012

# Closed: 234

# Short Sale: 67 (29%)

# Bank Owned: 78 (33%)

Median Sales Price: $83,450

Median Days on Market: 45

While the number of Closed Sales is down from Year over Year, we can see that the Median Price went up. The percentage of distressed Sold homes is way down from last year: 2011-71%, 2012-62%. This drop explains the increase in price, although it is down slightly from February ($85.6K). You will also notice that  the percentage of  short sales are on the increase while the percentage of bank owned are on the decrease.

Banks are now more willing to accept short sales (because they actually can recoup more money than they did with bank owned) so we anticipate an increase in these types of sales. This also means that we will see a continues rise in Asking and Sold Prices. It looks like the market here in the Canyon County area is actually on the mend and following the trend that has been in effect for the Boise area for the past 10 months.

If you would like additional information or would like to see what homes are currently going for in the Canyon County area, please go to my web site: www.BoiseRealEstateChick.com

 

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