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


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


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


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

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