Boise Real Estate Market Statistics-December 2015

Ada County December Market Statistics

Available Homes

# Available: 1765

# Vacant: 1210 (68%)

# Short Sale: 51 (3%)

# Bank Owned: 19 (1%)

Median Asking Price: $269,190

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Pending Sales

# Pending: 922

Median Asking Price: $261,250

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Closed Sales—December 2014

# Closed: 629

# Short Sale:15 (2%)

# Bank Owned: 39 (6%)

Median Sales Price: $216,700

Median Days on Market: 39

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Closed Sales—December 2015

# Closed: 806

# Short Sale: 14 (2%)

# Bank Owned: 11 (1%)

Median Sales Price: $232,500

Median Days on Market: 29

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Closing out 2015!

December 2015 closed out the real estate market just like it started last January, strong! Inventory continues to pull back and buyer demand is still going. 2012 was the last time we saw inventory this low and the asking price that year was $199K! Keep in mind 2012 was the follow-up year of the market bottom.

Pending sales while down under the 1000 mark, is still relatively high for the end of the year. The median asking price was up by $12K month over month.

The number of Closed Sales were up and this is very typical for December. What is not typical is the Days on Market. We are still under 30 days. Normally we are in the 31-40 day range. Sales price was down by $8K month over month but up by over $16K year over year.

My outlook for 2016 is very optimistic up until July-August time frame. With our current low inventory and strong buyer demand, I anticipate a very brisk spring market that should carry into the early summer. And that is where my crystal ball goes cloudy! It is a presidential election year and the past few have shown us that the markets can get very volatile during this time. So for now, if you are planning on buying or selling, do it soon!

Please go to my website for additional information: http://www.BoiseRealEstateChick.com

(all data is from the Intermountain MLS)

Brokerage: Silvercreek Realty Group-1099 Wells St Ste 200 Meridian ID 83642

 

 

 

 

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