Boise Real Estate Market Statistics- April 2014

Below are the Boise Real Estate Market Statistics for April 2014. Numbers reflect single family/single family on acreage that are either Available, Pending or have Sold. All data is taken from the Intermountain Multiple Listing Service.

Ada County April Market Statistics

Available Homes

# Available: 2464

# Vacant: 1293 (53%)

# Short Sale: 113 (5%)

# Bank Owned: 67 (3%)

Median Asking Price: $258,990

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Pending Sales

# Pending: 1116

Median Asking Price: $225,000

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Closed Sales—April 2013

# Closed: 736

# Short Sale: 87 (12%)

# Bank Owned: 68 (9%)

Median Sales Price: $186,370

Median Days on Market: 20

 

Closed Sales—April 2014

# Closed: 669

# Short Sale: 29 (4%)

# Bank Owned: 42 (6%)

Median Sales Price: $209,000

Median Days on Market: 20

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Asking Price on the Rise!

As I put together the April statistics (remember my newsletter reflects the previous month) I am shocked at the Median Asking Price jump. It is up by $16K over March and March was up by $12K over February! That is a $28K price increase, and in my opinion, that is a pretty steep jump in just a few months time. Not sure that trend can continue into the summer without losing quite a few first time buyers though.

Pending Sales are up but only by 106 homes. Interestingly, even though the Median Asking Price has had such a huge jump for Available homes, that has not been the case for Pending Sales. The Median Asking Price only went up $100 since last month. Another item to note is that year over year Pending Sales are actually down.

For Closed Sales we saw a modest increase in the number of sold homes. The Median Asking Price did see a jump of about $11K, that number has been going back and forth for several months, but it has been awhile since we have been over the $200K mark. And look at the Median Day on Market! 20 Days! Now that is a sure sign of a spring market! I do not expect that to get too much lower and actually after our May numbers come in, it should start trending back up.

For additional information please go to my website:  http://www.BoiseRealEstateChick.com

Silvercreek Realty Group, 1099 S Wells Way, Suite 200, Meridian, ID 83642

 

 

 

 

 

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