Archive for March, 2017

Boise Real Estate Market Statistics-February 2017

Ada County February Market Statistics

Available Homes

# Available: 1387

# Vacant: 980 (71%)

# Short Sale: 9 (1%)

# Bank Owned: 10 (1%)

Median Asking Price: $325,000

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Pending Sales

# Pending: 1227

Median Asking Price: $279,900

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Closed Sales—February 2016

# Closed: 617

# Short Sale: 7 (1%)

# Bank Owned: 5 (1%)

Median Sales Price: $234,900

Median Days on Market: 22

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Closed Sales—February 2017

# Closed: 533

# Short Sale: 3 (1%)

# Bank Owned: 9 (2%)

Median Sales Price: $259,900

Median Days on Market: 21

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Inventory, Where Are You?

I know this is starting to get old but where the heck is the inventory? We have 1387 homes on the market in all of Ada County! The spring market it getting ready and we do not have enough inventory. Help!!! Please if you are thinking of selling your home or know someone who is, give me a call! The buyers are out there and the pickings are slim!

The available homes really did not budge this month but the asking price did! It was up $21K from last month and until more inventory hits, that price will continue to inch up.

The number of homes that are Pending continued to go up and I do not see that trend changing as we head into the Spring market.

February was a short month and the number of closed sales was down slightly (-25). Here too, I see a trend that will only go up going forward. The median sold price was up by $20K month over month and $25K year over year. The median days on market is back down to 21 and we haven’t even hit the rush yet! This is going to be an interesting selling season for sure.

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

Brokerage-Silvercreek Realty Group-1099 S Wells St Meridian Idaho 83642

 

 

 

 

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Boise Real Estate Market Statistics-January 2017

Ada County January Market Statistics

Available Homes

# Available: 1381

# Vacant: 1038 (75%)

# Short Sale: 9 (1%)

# Bank Owned: 6 (<1%)

Median Asking Price: $304,209

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Pending Sales

# Pending: 1007

Median Asking Price: $284,900

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Closed Sales—January 2016

# Closed: 498

# Short Sale: 5 (1%)

# Bank Owned: 18 (4%)

Median Sales Price: $237,569

Median Days on Market: 33

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Closed Sales—January 2017

# Closed: 558

# Short Sale: 1 (<1%)

# Bank Owned: 16 (3%)

Median Sales Price: $239,794

Median Days on Market: 29


2017…

The January 2017 numbers are in and they are showing us some more historical lows and highs. Not sure how much longer the market will have this low inventory but we are down to a little over 1300 homes available in all of Ada County. The median asking price has finally gone over the $300K mark for the first time since I have been tracking it (over 7 years).

The Pending sales were slightly up in January as was the asking price. I do expect this trend to continue as we head into the Spring market.

The number of Closed sales was down by 273 homes from December. However, it is up from the numbers of January 2016. The Sales price was actually down by $5K month over month and more surprisingly, down by $2K year over year.

Are we heading into a bubble? Not that I can see. In order for this market to become a bubble we would need the prices to continue to rise and the inventory to out pace the demand like it did in 2006/2007. We are a long way from being there again!

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

 

 

 

Boise Real Estate Market Statistics-December 2016

Ada County December Market Statistics

Available Homes

# Available: 1519

# Vacant: 1135 (75%)

# Short Sale: 13 (1%)

# Bank Owned: 10 (1%)

Median Asking Price: $299,900

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Pending Sales

# Pending: 976

Median Asking Price: $276,832

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Closed Sales—December 2015

# Closed: 835

# Short Sale: 14 (2%)

# Bank Owned: 11 (1%)

Median Sales Price: $232,000

Median Days on Market: 29

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Closed Sales—December 2016

# Closed: 831

# Short Sale: 5 (1%)

# Bank Owned: 12 (1%)

Median Sales Price: $244,888

Median Days on Market: 24

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Happy New Year!!!

Happy New Year! May your 2017 be a healthy, happy, and prosperous New Year! If you are a home seller, 2017 is looking VERY good for you! If you are a buyer, not so much. Interest rates are going up and home prices are continuing to trend upwards as well! There are still some very well priced homes on the market, you just have to act quickly to get them!

Inventory is at an unbelievable low! We are now down to 1519 homes on the market. Demand continues to be high and amazingly the median asking price hasn’t skyrocketed just yet.

The Pending sales had a pretty good pullback in December, finally getting under the 1000 mark. Median Asking price went up by $16K though. We will see if that holds true for January’s sold prices.

The number of Closed sales was down by 38 and the sold price was pretty much flat. However, due to the low inventory, the Days on Market are still sitting at the under 24 day mark.

With the New Year starting off with such low inventory, now is a great time to sell your home! Contact me if you would like additional information.

Brokerage: Sivercreek Realty Group-1099 S Wells Ste. 200-Meridian ID 83642

 

Boise Real Estate Market Statistics-November 2016

Ada County November Market Statistics

Available Homes

# Available: 1786

# Vacant: 1247 (70%)

# Short Sale: 12 (<1%)

# Bank Owned: 16 (1%)

Median Asking Price: $296,695

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Pending Sales

# Pending: 1204

Median Asking Price: $260,680

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Closed Sales—November 2015

# Closed: 654

# Short Sale: 10 (2%)

# Bank Owned: 12 (2%)

Median Sales Price: $240,150

Median Days on Market: 21

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Closed Sales—November 2016

# Closed: 869

# Short Sale: 4 (<1%)

# Bank Owned: 9 (1%)

Median Sales Price: $245,000

Median Days on Market: 21


Where are the Available Homes!

Inventory continues its shrinkage! We are now down to just 1786 of Available homes on the market. Even more note worthy is that 70 percent of those homes are vacant. Indicating that investors are moving their properties while the market demand is high.

The Pending sales continue to come down as is expected this time of year. I do think they would be a bit higher but our inventory just isn’t there. The median asking price hasn’t gone up though!

Closed sales were down slightly but up year over year. The Days on Market inched up to 21 but that is still pretty low for this time of year. Interesting to me is that even with the limited inventory the median closed sales price went down by $8K.

Once again I am restating this: Many people are afraid to list their homes during the 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!

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

 

 

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