Boise Real Estate Market Statistics- August 2014

Ada County August Market Statistics

Available Homes

# Available: 2945

# Vacant: 1653 (56%)

# Short Sale: 115 (4%)

# Bank Owned: 54 (2%)

Median Asking Price: $247,888

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Pending Sales

# Pending: 956

Median Asking Price: $229,900

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Closed Sales—August 2013

# Closed: 852

# Short Sale: 49 (6%)

# Bank Owned: 42 (5%)

Median Sales Price: $201,800

Median Days on Market: 20

 

Closed Sales—August 2014

# Closed: 749

# Short Sale: 19 (3%)

# Bank Owned: 25 (3%)

Median Sales Price: $218,990

Median Days on Market: 30

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What Happened to Summer?

I don’t know about you but I don’t remember August even happening!!! This summer has passed by way too quickly! I originally thought that by years end we would break the 3000 mark for inventory. I may have to revise that and say by October we will be over 3000 homes available. The Median Asking Price decreased slightly by $1100 month over month but year over year it is up by $17K.

As is typical for this time of year, Pending Sales continues to decrease, down yet again from last month. Median Asking Price had a pullback as well, down $5100 month over month.

Closed Sales went down by 100 homes month over month and was down just as much for year over year. Median Sales Price went up by $5K gaining back last month’s loss. The Median Days on Market is now at 30, also happening sooner than I expected. This time last year Median Days on Market was at 20. I have found that homes are sitting a bit longer on the market right now, largely due to the increased inventory. The only homes moving quick are those that are priced below market! No surprise there!

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

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

 

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