Boise Real Estate Market Statistics for August 2012

Below are the Boise Real Estate Market Statistics for August 2012. These numbers are based on Available, Pending, and Sold homes in the Ada County area (Boise, Eagle, Meridian, Kuna, and Star) for single family/single family with acreage homes. All data is taken from the Intermountain Multiple Listing Service.

Ada County August Market Statistics

Available Homes

# Available: 2144

# Vacant: 1035 (48%)

# Short Sale: 455 (21%)

# Bank Owned: 54 (3%)

Median Asking Price: $209,900

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Pending Sales

# Pending: 1145

Median Asking Price: $178,500

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Closed Sales – August 2011

# Closed: 630

# Short Sale: 104 (17%)

# Bank Owned: 178 (28%)

Median Sales Price: $152,500

Median Days on Market: 38

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Closed Sales– August 2012

# Closed: 710

# Short Sale: 100 (14%)

# Bank Owned: 52 (7%)

Median Sales Price: $180,000

Median Days on Market: 25

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Here comes Fall!

August seems to have brought the real estate market back to life! I am also currently seeing the same increased activity for September. Fall time is historically the second surge of the year for buying and selling.

With the decrease of distressed properties on the market, we are seeing more homes that are generally in move in condition. This is great for buyers because prices are still relatively low, allowing for some great deals. Cash buyers are still in the driver’s seat though, with many sellers preferring the cash deals even if they are the lower bid. This is because cash deals close quicker and do so without the need of an appraisal.

Pending Sales remain strong, but the Median Asking Price on them has gone down by around $6k. This will probably be reflected in September’s Sold Prices.

Number of Closed Sales saw a big increase from July as did the Median Sold Price. We are also seeing the continued decline of distressed properties being sold, down another 2 percent from last month. However, with the slight pull back in Median Asking Price for Pending Sales, I am thinking we will see the Median Sold Price stay either flat or decrease just a bit for September sales.

If you would like to know what the current value of your home is please contact me : mary@BoiseRealEstateChick.com or to see what homes are available to buy in the Ada County area, please go to my website: www.BoiseRealEstateChick.com

 

 

 

 

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