Archive for August, 2015

Boise Real Estate Market Statistics-July 2015

Ada County July Market Statistics

Available Homes

# Available: 2491

# Vacant: 1339 (53%)

# Short Sale: 73 (3%)

# Bank Owned: 39 (1%)

Median Asking Price: $274,988

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Pending Sales

# Pending: 1342

Median Asking Price: $248,330

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Closed Sales—July 2014

# Closed: 859

# Short Sale: 12 (1%)

# Bank Owned: 35 (4%)

Median Sales Price: $214,503

Median Days on Market: 22

Closed Sales—July 2015

# Closed: 1036

# Short Sale: 12 (1%)

# Bank Owned: 14 (1%)

Median Sales Price: $230,000

Median Days on Market: 17

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Lazy Days of Summer, Not So Much!

While we typically see a pullback during the summer months, currently we are seeing a mildly tempered market. There is some downward trending but it is not very significant. The real estate market is still pretty active for this time of year.

Inventory inched up by +30 homes and the median asking price dropped by only $2K. We are not seeing any significant increases in building and with wet weather season (October-November) approaching, inventory will start to drop. However, I do not see pricing going too much lower than it is now. The thing we are watching for is whether or not the feds will raise interest rates. This has been the threat for several years now and nothing ever comes of it, so we will wait and see.

Pending Sales saw a slight pull back month over month (-63) but we are still way higher (+400) then we were this time last year. This tells me that our Closed Sales for the next few months are going to continue to outpace the previous year!

The number of Closed Sales was down by –14 month over month but year over year they were up by +177. Median Sold Price was flat month over month but up by +$15.5K year over year. A trend I expect to see continue for the next several months!

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 Ste. 200, Meridian ID 83642

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Boise Real Estate Market Statistics-June 2015

Ada County June Market Statistics

Available Homes

# Available: 2461

# Vacant: 1329 (54%)

# Short Sale: 73 (3%)

# Bank Owned: 32 (1%)

Median Asking Price: $276,500

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Pending Sales

# Pending: 1405

Median Asking Price: $244,900

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Closed Sales—June 2014

# Closed: 828

# Short Sale: 17 (2%)

# Bank Owned: 38 (5%)

Median Sales Price: $217,000

Median Days on Market: 20

Closed Sales—June 2015

# Closed: 1050

# Short Sale: 13 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $229,950

Median Days on Market: 17

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Summer Market Begins!

June starts the official summer market even though the first two weeks reflect the spring market! Mid-June to mid-September reflect the true summer market. No matter how we look at it, the market is continuing its hot trend!

Available homes increased by another 125, however we are still well below last years numbers. Activity in the market is much higher and the inventory is lower fueling this current market. While month over month median asking price is down by $2K, year over year is up by almost $20K.

While we see a slight pull back in Pending Sales month over month (down by 99) we are still well above last years by almost 400. We peaked in May and will continue to see the Pending Sales decrease but historically we are still above our normal.

Closed Sales were up month over month and for year over year. Closed Sales price was up by $1.5K month over month and up by $12K year over year. The Median Days on Market are at 15, meaning it takes about 15 days for a home to get an accepted offer. Anything less than 25 is a fast-moving 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 Well St Ste. 200, Meridian, ID 83642

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