Archive for December 13th, 2017

Boise Real Estate Market Statistics- November 2017

Ada County November Market Statistics

Available Homes
# Available: 1682
# Vacant: 1178 (70%)
# Short Sale: 10 (1%)
# Bank Owned: 6 (<1%)
Median Asking Price: $344,900

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Pending Sales
# Pending: 1385
Median Asking Price: $303,720

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Closed Sales—November 2016
# Closed: 886
# Short Sale: 4 (<1%)
# Bank Owned: 9 1%)
Median Sales Price: $245,000
Median Days on Market: 20

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Closed Sales—November 2017
# Closed: 862
# Short Sale: 2 (<1%)
# Bank Owned: 3 (<1%)
Median Sales Price: $268,850
Median Days on Market: 15


Wrapping Up the Year!

As we wrap up the year we can look back and see that two things have not really changed. Inventory is still at historical lows. Because of that, homes that hit the market went within days if not hours. The last time we saw homes moving this quick was in the bubble of 2006/2007. The difference this time is that we have less than half the inventory.
While the number of Pending Sales remain over the 1000 mark, this has been the case for the past two years. Prior to 2015, numbers were usually 800 or less. The Asking Price was up by $3K month over month.

The number of Closed Sales was down another 101 month over month and was actually down year over year as well. The Median Sold Price was down by $1K from last month but up by $23K year over year. The number of Days on Market is at 15. Normally at this time of year it should be around 24+.

Wishing you all a wonderful Christmas and a Happy New Year! Hope your holidays are filled with lots of family time, food and fun. Take this time to enjoy your loved ones! Time goes quickly so enjoy the time you have together!

Brokerage- Silvercreek Realty Group 1099 S Wells St Suite 100 Meridian Idaho 83642

Boise Real Estate Market Statistics- October 2017

Ada County October Market Statistics

Available Homes
# Available: 1913
# Vacant: 1190 (62%)
# Short Sale: 7 (<1%)
# Bank Owned: 3 (<1%)
Median Asking Price: $334,900

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Pending Sales
# Pending: 1488
Median Asking Price: $299,900

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Closed Sales—October 2016
# Closed: 932
# Short Sale: 3 (<1%)
# Bank Owned: 9 (1%)
Median Sales Price: $250,000
Median Days on Market: 14

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Closed Sales—October 2017
# Closed: 963
# Short Sale: 1 (<1%)
# Bank Owned: 3 (<1%)
Median Sales Price: $269,900
Median Days on Market: 14


Heading into the Holidays!

The holidays are approaching and we have not made it above the 2000 mark for available homes so far this year. I do not expect us too either! As you can see with the October numbers we are starting the decrease in inventory that is typical of this time of year and I would expect that to remain the case until at least the early Spring market of 2018.

We are also seeing the number of Pending homes going down as well. Yes, typical of this time of year but with slim pickings and increasing prices, some buyers are just sitting tight until the right home comes on the market (at the right price).

And Closed Sales follow the downward trend too! All normal for the season but we will see an uptick in Closed and Pending come the end of December. Nothing earth shattering though. The Days on Market are hanging steady at 14 days.

Hoping you have a wonderful Thanksgiving filled with family, food and fun! I am most grateful for my clients and the many referrals I receive! My business is 100% referral and I could not do it without you! Thank you and God Bless!

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

Boise Real Estate Market Statistics- September 2017

Ada County September Market Statistics

Available Homes
# Available: 1977
# Vacant: 1214 (61%)
# Short Sale: 6 (<1%)
# Bank Owned: 2 (<1%)
Median Asking Price: $332,499

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Pending Sales
# Pending: 1581
Median Asking Price: $299,000

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Closed Sales—September 2016
# Closed: 1035
# Short Sale: 5 (<1%)
# Bank Owned: 8 (1%)
Median Sales Price: $249,900
Median Days on Market: 15

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Closed Sales—September 2017
# Closed: 1074
# Short Sale: 1 (<1%)
# Bank Owned: 4 (<1%)
Median Sales Price: $272,842
Median Days on Market: 12

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Fall Market Begins!

The Fall market has begun and it looks a lot like the summer market. That is to say that not much if any increase in inventory. Prices (median) continue to stay well above the $300K, distressed properties are all but gone from the market, and homes are still going as quickly as they go on the market (in the under $350K price range that is).
The number of homes pending saw a slight pull back from last month. Down by 142 but still looking healthy for this time of year.

The number of homes that closed this month was down also from last month (-104). The closed sales price was down by -$6K month over month but was up by $23K year over year. The number of Days on Market stayed steady at 12. I am thinking that will increase a little bit as we get closer to Christmas.

As we get closer to the end of the year, I don’t see much changing between now and the end of December. Most sellers are looking at a Spring market and buyers are hoping for a good deal to hit before then! So Seller’s, if you are thinking of waiting until spring but are ready now, do it! And of course give me a call, I can help you with that!

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

Boise Real Estate Market Statistics-August 2017

Ada County August Market Statistics

Available Homes
# Available: 19278
# Vacant: 1113 (58%)
# Short Sale: 7 (<1%)
# Bank Owned: 4 (<1%)
Median Asking Price: $330,000

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Pending Sales
# Pending: 1723
Median Asking Price: $298,000

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Closed Sales—August 2016
# Closed: 1066
# Short Sale: 4 (<1%)
# Bank Owned: 7 (<1%)
Median Sales Price: $254,823
Median Days on Market: 14

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Closed Sales—August 2017
# Closed: 1178
# Short Sale: 2 (<1%)
# Bank Owned: 4 (1%)
Median Sales Price: $278,995
Median Days on Market: 12

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Summer Market Comes to an End!

With the summer market coming to an end we see inventory not budging at all. We have not broken the 2000 mark and at this point I am not sure we will for the rest of this year. Median asking price continues to go up though; up another $5K month over month.

No significant changes in the Pending Sales either! Down by 50 and the median asking price stayed flat. Here again I do not expect to see much movement up or down with the Pending sales.

Closed sales were up by 77 month over month and was up year over year. The median sales price was up by $9K month over month and $24K year over year. The median Days on Market inched up a little bit to 12 days.

As I stated in last months newsletter (did you read it?!?) the market is staying pretty steady. Not really sure at this point if we are going to see much movement in the market until maybe next spring. Potential sellers seem to be holding onto their homes due to the lack of inventory for them to move to! Catch-22 for sure! If you have any questions regarding the real estate market (or know someone who does) please feel free to contact me!

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

Boise Real Estate Market Statistics-July 2017

Ada County July Market Statistics

Available Homes
# Available: 1927
# Vacant: 1202 (62%)
# Short Sale: 9 (<1%)
# Bank Owned: 5 (<1%)
Median Asking Price: $325,000

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Pending Sales
# Pending: 1773
Median Asking Price: $299,500

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Closed Sales—July 2016
# Closed: 1105
# Short Sale: 6 (<1%)
# Bank Owned: 10 (1%)
Median Sales Price: $243,000
Median Days on Market: 11

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Closed Sales—July 2017
# Closed: 1101
# Short Sale: 3 (<1%)
# Bank Owned: 11 (1%)
Median Sales Price: $269,900
Median Days on Market: 9

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Dog Days of Summer are Here!

The summer market is in full swing and with that we do see an increase in inventory (+104) but still have not gone over that 2000 mark! The market is doing its usual slowing of pace for the summer. Homes priced under $300K are still going quick!

We also see a slight (very slight) pull back on Pending sales, down by 25 but is still well above last year! Considering we have lower available inventory this year compared to last year, having a higher number of Pending sales speaks to the high demand.

Continuing the light seasonal pullback trend are the Closed sales. Also down month over month by–139 and interestingly down by –4 year over year. Closed sales price was down by $4K month over month but up by $26K year over year.

As we head further into August and September I do not see much changing in inventory or pricing. We are staying pretty steady. This is still a very strong sellers market so you know what I am going to say next: if you are thinking of buying or selling a home (or know someone who is) please contact me! I will be happy to help! Have a wonderful Labor Day weekend!

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


 

Boise Real Estate Market Statistics-June 2017

Ada County June Market Statistics

Available Homes
# Available: 1852
# Vacant: 1040 (56%)
# Short Sale: 8 (<1%)
# Bank Owned: 7 (<1%)
Median Asking Price: $338,000

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Pending Sales
# Pending: 1852
Median Asking Price: $297,865

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Closed Sales—June 2016
# Closed: 1204
# Short Sale: 5 (<1%)
# Bank Owned: 11 (1%)
Median Sales Price: $251,371
Median Days on Market: 10

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Closed Sales—June 2017
# Closed: 1240
# Short Sale: 1 (<1%)
# Bank Owned: 6 (1%)
Median Sales Price: $273,150
Median Days on Market: 8

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Spring Market going into the Summer!

The spring market now comes to an end with the June numbers. Really not much new going on! Inventory is up by a mere 32 homes and still staying under that 2000 mark. Not sure we will get above that this year!

Pending sales also rose just a bit, up by 54 homes. The Pending sales price was down by $2K though. However, we are way above what was pending last year at this time. That is up by over 400 homes year over year!

The number of Closed sales were up by another 200 month over month and by 36 for year over year. The Sales Price rose another $10K and is up $22K for year over year. Median Days on Market only went up by 1 day!

I have stated this before but even as crazy as the market may seem right now, it is still pretty steady. No big jumps in pricing, inventory is still low, demand is still high. Demand in the $300K and under market moves very quick though. Ask any buyer right now how many homes have they lost their offering bid to either a much higher bid or a cash offer?

As always, if you are thinking of buying or selling a home (or know someone who is) please contact me! I will be happy to help!

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

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