Archive for December 2nd, 2016

Boise Real Estate Market Statistics-October 2016

Ada County October Market Statistics

Available Homes

# Available: 1996

# Vacant: 1295 (65%)

# Short Sale: 18 (<1%)

# Bank Owned: 23 (1%)

Median Asking Price: $289,250

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Pending Sales

# Pending: 1352

Median Asking Price: $259,900

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Closed Sales—October 2015

# Closed: 818

# Short Sale: 9 (1%)

# Bank Owned: 14 (2%)

Median Sales Price: $228,900

Median Days on Market: 22

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Closed Sales—October 2016

# Closed: 902

# Short Sale: 3 (<1%)

# Bank Owned: 8 (1%)

Median Sales Price: $253,299

Median Days on Market: 15

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Inventory is Dropping Fast!

The current available inventory has dropped significantly since last month. It is now down by 247 homes and under the 2000 mark. For a point of reference, in 2010, the year before we hit bottom, the number of available homes was 3232. In 2012, the year after we hit bottom, the inventory was 2019. We are now below that at 1996 homes available!

The Pending sales are down by 71 homes from last month but still above last years total. Interestingly, the asking price has not really changed much being up by $2K year over year.

The Closed sales are down by 102 month over month but still ahead of year over year totals. The item to note in this months closed sales is the Days On Market (DOM). They are staying steady at 15 days. Typically this time of year we start seeing the mid 20’s to low 30’s time frame for days on market. We really have not gone over 15 DOM in the past six months. This really speaks to the fact that we just do not have enough inventory!

Many people are afraid to list their homes during the holiday/ winter months. However, this is usually the best time to list a home because competition is low and this year it is VERY low. So if you or someone you know are thinking of selling, PLEASE give me a call! I am here to help!

For more 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 Idaho 83642

 

Boise Real Estate Market Statistics-September 2016

Ada County September Market Statistics

Available Homes

# Available: 2213

# Vacant: 1331 (60%)

# Short Sale: 20 (1%)

# Bank Owned: 20 (1%)

Median Asking Price: $288,500

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Pending Sales

# Pending: 1423

Median Asking Price: $266,767

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Closed Sales—September 2015

# Closed: 859

# Short Sale: 13 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $232,500

Median Days on Market: 23

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Closed Sales—September 2016

# Closed: 1004

# Short Sale: 5 (<1%)

# Bank Owned: 8 (<1%)

Median Sales Price: $250,000

Median Days on Market: 15

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Real Estate Market is Flat!

In September we normally see a bit of a slowing down and that is what we are seeing now. Inventory is pretty flat at the moment with no real change to the number of available homes on the market. Although there was an increase in the Asking Price, up by $7K month over month.

Our Pending sales are down slightly from last month but are up from this same time last year. The limited inventory has not dampened the number of homes that are going under contract. This may actually be forcing some to hurry up and make offers before a home gets snatched up by another buyer.

The Closed sales are down by only 34 homes compared to last month. Once again though, the number of sales are much higher since last year (up by 145). The sales price is down by $3K month over month but up by $18K year over year. The distressed part of our market is all but gone! We had a total of 13 homes that were either short sales or bank owned.

We will soon see what the rest of the Fall season brings and how the elections will impact (or not) the real estate market!

For more information regarding the Boise Real Estate Market please go to my website: http://www.BoiseRealEstateChick.com

Brokerage: Silvercreek Realty Group-1099 S Wells Ave Suite 200-Meridian Idaho 83642

 

 


 


 

 

 

 

Boise Real Estate Market Statistics-August 2016

Ada County August Market Statistics

Available Homes

# Available: 2212

# Vacant: 1327 (60%)

# Short Sale: 23 (1%)

# Bank Owned: 20 (<1%)

Median Asking Price: $281,000

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Pending Sales

# Pending: 1529

Median Asking Price: $262,990

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Closed Sales—August 2015

# Closed: 879

# Short Sale: 7 (<1%)

# Bank Owned: 24 (3%)

Median Sales Price: $232,100

Median Days on Market: 19

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Closed Sales—August 2016

# Closed: 1038

# Short Sale: 4 (1%)

# Bank Owned: 7 (<1%)

Median Sales Price: $253,645

Median Days on Market: 15

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Summer Market Comes to an End!

The summer market is winding down as we see the real estate market slowing down a little. We are still way above last years numbers at this same time. There were only an additional 50 homes added to the market since last month so we aren’t seeing any big jumps in inventory. Asking price has pulled back a bit as well.

The number of Pending sales has continued to come down, as was expected after the crazy spring market. The median asking price was down by $6k month over month.

While the number of Closed sales came down (-42) month over month, we are still well above last years numbers by 160 homes. Sales price was up by $9K month over month and year over year it was up by $21K. Days on market are up to 15 which is still very low.

As we head into the fall I am expecting the inventory to remain fairly consistent with maybe a slight increase. We are still relatively low on available homes but even considering that I am not anticipating any price jumps. The market is healthy right now and should remain so until next spring.

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 Idaho 83642

 

 

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