Boise Real Estate Market Statistics for May 2012

Below you will find the Boise Real Estate Statistics for ADA County (Boise and the surrounding area) for the month of May 2012. These numbers are from the Multiple Listing Service  for Active, Pending and Sold properties (single family/ single family with acreage). 

Available Homes

# Available: 1987

# Vacant: 934 (47%)

# Short Sale: 518 (26%)

# Bank Owned: 33 (2%)

Median Asking Price: $208,530

 ————————————————

Pending Sales

# Pending: 1265

Median Asking Price: $177,990

 ———————————————

Closed Sales – May 2011

# Closed: 615

# Short Sale: 97 (16%)

# Bank Owned: 230 (37%)

Median Sales Price: $145,000

Median Days on Market: 42

 ———————————————

Closed Sales– May 2012

# Closed: 606

# Short Sale: 111 (18%)

# Bank Owned: 71 (12%)

Median Sales Price: $179,094

Median Days on Market: 36

 ————————————————

Shifting into a Seller’s Market!

 If you had told anyone in April 2011, “just wait a year and we will be in a seller’s market”, they probably would have laughed at you. What a difference a year makes, but that is exactly what has happened!

 In April 2011, the sales price in Boise hit bottom at $135K. Now, here we are in 2012, and the May sales price was $179,094K (median). As a matter of fact the sales price jumped $20K just since last month!

Even though there has been a slight increase in inventory, it is not nearly enough to meet demand. This is reflected in the current median asking price which has jumped almost $10k since last month.

We are also seeing the continuing decline of distressed properties on the market. The percent of distressed homes for sale in May 2011 was 38 percent, now in May 2012 it is 28 percent. Combine this with the low inventory and high demand, we can safely say that we are now in a strong sellers market.

 If you would like additional information regarding the Boise Real Estate Market, please go to my web site: www.BoiseRealEstateChick.com or you can send me an e-mail: mary@BoiseRealEstateChick.com

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  1. Thank your for sharing that information. It was nice to know that you have been doing great in your field of real estate.

    • Thanks Steve! The seller’s market here is in full swing! If you have any buyers looking to move this way, I always appreciate referrals!

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