Canyon County Real Estate Market Stats – February 2013

Below are the Canyon County Real Estate statistics for February 2013. These numbers are taken from the Intermountain Multiple Listing Service for the Canyon County area in Idaho. This area consists of Caldwell, Nampa, Middleton and the surrounding area. Numbers are based on single family /single family homes on acreage that have active, pending, or have sold in February 2013.

Canyon County February Market Statistics

Available Homes
# Available: 876
# Vacant: 491 (56%)
# Short Sale: 197 (23%)
# Bank Owned: 38 (4%)
Median Asking Price: $139,900

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Pending Sales
# Pending: 418
Median Asking Price: $114,450

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Closed Sales – February 2012
# Closed: 190
# Short Sale: 40 (21%)
# Bank Owned: 82 (43%)
Median Sales Price: $86,410
Median Days on Market: 47

Closed Sales– February 2013
# Closed: 184
# Short Sale: 35 (19%)
# Bank Owned: 35 (19%)
Median Sales Price: $109,900
Median Days on Market: 31

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Market Continues to Improve!

The real estate market continues to stay strong! We saw a slight increase in inventory but we are still at historic lows! Asking price is continuing its steady rise. Up almost $10K in Caldwell from last month. The search for decent  inventory continues to fuel multiple offers and decreased  days on market.

Pending sales increased again (418 units pending-Feb./ 383 units pending in Jan.) There was another increase in the median asking price which will translate into yet another increase in the closed median sales price.

We saw a jump in closed sales activity for February. We had 153 closed sales last month and had over 184 this month. The distressed market continues to shrink for sold properties. In February 2012 , 71 percent of the sold market was distressed, now it is at 38 percent.

Are we heading into another bubble? I don’t think so! The lack of inventory is what is fueling the price increases right now. As more sellers recover from the hit they took after the crash, inventory will start to go up. At that point I think we will see a flattening of prices. In the meantime though, if you are a seller not under water and have considered selling, now is the time!

If you would like to know what the current market value of your home is, please go to my website: www.BoiseRealEstateChick.com or e-mail me for a Current Market Analysis!

 

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