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


Pending Sales

# Pending: 1007

Median Asking Price: $284,900


Closed Sales—January 2016

# Closed: 498

# Short Sale: 5 (1%)

# Bank Owned: 18 (4%)

Median Sales Price: $237,569

Median Days on Market: 33


Closed Sales—January 2017

# Closed: 558

# Short Sale: 1 (<1%)

# Bank Owned: 16 (3%)

Median Sales Price: $239,794

Median Days on Market: 29


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




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