Boise Real Estate Market Statistics -January 2013

Below are the Boise Real Estate Market statistics for January 2013. These numbers are taken from the Intermountain MLS and reflect active, pending, and sold single family homes/single family homes on acreage. The Ada County area consists of Boise, Meridian, Eagle, Kuna, and Star.

January Market Statistics

Available Homes
# Available: 1668
# Vacant: 956 (57%)
# Short Sale: 358 (21%)
# Bank Owned: 54 (3%)
Median Asking Price: $209,700

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Pending Sales
# Pending: 878
Median Asking Price: $189,900

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Closed Sales – January 2012
# Closed: 402
# Short Sale: 94 (23%)
# Bank Owned: 120 (30%)
Median Sales Price: $138,000
Median Days on Market: 57

Closed Sales – January 2013
# Closed: 358
# Short Sale: 47 (13%)
# Bank Owned: 41 (11%)
Median Sales Price: $182,995
Median Days on Market: 28

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Spring Market?!?

It may feel like winter but the spring market seems to be arriving early! Homes priced correctly are being snatched up in a matter of days as inventory continues to decline. Ada County is down to just 1668 homes available and if we remove the contingent sales, it is down to 1360. Because of the lack of inventory and the buyer demand, the median asking price jumped $10k!

Pending sales increased this month as did the median asking price for Meridian and Eagle. I expect we will see an increase in Closed Sales for February.

Closed Sales for January saw another decrease in the number of units sold. However, the median Closes Sales Price went up, as Days on Market went down. We continue to see a decrease of distressed homes on the market. If we look at January 2012 we see that 53 percent of the homes that sold were distressed, while January 2013 is only 24 percent.

I do believe that if there were more homes available the Pending and Sold numbers would be higher. We are seeing a large number of buyers from California looking to move here over the next few months. Unfortunately there is not much inventory to show them. So, if you or someone you know are thinking about selling, please let me know!

If  you are considering selling your home or know someone who is, please contact me via e-mail: mary@BoiseRealEstateChick.com or go to my website for other contact info.,  www.BoiseRealEstateChick.com

 

 

 

 

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