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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