Boise Real Estate Market Statistics – July 2014

Ada County July Market Statistics

Available Homes

# Available: 2887

# Vacant: 1569 (54%)

# Short Sale: 109 (4%)

# Bank Owned: 62 (2%)

Median Asking Price: $249,000

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Pending Sales

# Pending: 997

Median Asking Price: $235,000

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Closed Sales—July 2013

# Closed: 910

# Short Sale: 57 (6%)

# Bank Owned: 47 (5%)

Median Sales Price: $206,898

Median Days on Market: 19

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Closed Sales—July 2014

# Closed: 849

# Short Sale: 12 (1%)

# Bank Owned: 35 (4%)

Median Sales Price: $213,600

Median Days on Market: 23

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Dog Days of Summer!

Well the dog days of summer are upon us! The real estate market is definitely showing the signs of leveling off for the season. However, inventory is continuing its rise and I am thinking we will see the available inventory go over the 3000 mark before years end. Something we have not seen for several years! The Median Asking Price has been doing a see-saw for the past several months, with July pulling back by $8k from June.

Pending Sales continues to decrease, now under 1000 and I am expecting to see this trend at least until December. Median Asking Price did rise slightly so we will see how that translates for August Closed Sales Prices.

Closed Sales were up but only by 30 homes month over month. We continue to see that year over year, 2013 was a much stronger year. The Median Sales Price saw a $4K decrease month over month and was only $7K more than last year. The Median Days on Market is slowly increasing and should be back in the 30’s by October. Overall, even though it feels like a slow market, relative to last year, this year is actually what is considered a normal or healthy market.

If you would like additional information regarding the Boise Real Estate Market, please go to my website: http://www.BoiseRealEstateChick.com

Brokerage is Silvercreek Realty Group- 1099 S Wells St, Suite #200, Meridian ID 83642

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