Boise Real Estate Market Statistics- May 2013

Below are the Boise Real Estate Market Statistics for May 2013. These numbers are from the Intermountain Multiple Listing Service for Available, Pending and Closed sales, single family/single family with acreage in the Boise, Idaho area.

Ada County May 2013 Market Statistics

Available Homes

# Available: 1880
# Vacant: 918 (49%)
# Short Sale: 229 (12%)
# Bank Owned: 49 (3%)
Median Asking Price: $239,900

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Pending Sales
# Pending: 1458
Median Asking Price: $216,530

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Closed Sales—May 2012
# Closed: 625
# Short Sale: 115 (18%)
# Bank Owned: 71 (11%)
Median Sales Price: $179,688
Median Days on Market: 35

Closed Sales—May 2013
# Closed: 822
# Short Sale: 59 (7%)
# Bank Owned: 40 (5%)
Median Sales Price: $194,995
Median Days on Market: 17

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Spring Market Ends Strong!

As the spring market comes to an end, it did so with strong numbers. The number of homes that sold in May are numbers that we have not seen since 2005/2006. As long as we can avoid the housing bubble of those years we should be alright!

Available inventory barely inched up by 76 homes. Not near enough to help meet buyer demand. The worrisome detail is that due to the lack of inventory many buyers are waiting for the “perfect” home and in the meantime interest rates are on the rise. For some, this could price them out of the market within the next few months.

As expected, the Pending Sales continued to do well. So did the median Pending Sales price! Up another $7500!

The number of Closed Sales are at historical highs. The percent of distressed homes fell by 10 percent month over month (22 percent in April and 12 percent in May). Only 40 homes that sold in May were Bank Owned and currently there are only 49 Bank Owned homes available for sale! We are getting to the point where I may not have to have the number of distressed homes in my statistics anymore! Now wouldn’t that be nice?!?

For more information regarding the Boise Real Estate Market or to contact me, please go to my website: www. BoiseRealEstateChick.com

 

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