Boise Real Estate Market Statistics-May 2018

Ada County -May Market Statistics

Available Homes
# Available: 1308
# Vacant: 790 (60%)
# Short Sale: 0 (0%)
# Bank Owned: 5 (<1%)
Median Asking Price: $392,450

Pending Sales
# Pending: 1941
Median Asking Price: $339,990

Closed Sales—May 2017
# Closed: 1063
# Short Sale: 2 (<1%)
# Bank Owned: 7 (1%)
Median Sales Price: $261,000
Median Days on Market: 7

Closed Sales—May 2018
# Closed: 1198
# Short Sale: 2 (<1%)
# Bank Owned: 3 (<1%)
Median Sales Price: $305,000
Median Days on Market: 6


May Flowers…

We are finally seeing a decent increase (relatively speaking) in available inventory, up by 104 month over month. And with that increase we see a $4K decrease in the median asking price month over month.

The number of Pending Sales was up by only 7 but up by $11K month over month.
The substantial number is the amount of Closed Sales for May. This was up by 284 homes month over month. This is what we should be seeing for May! The median Closed price was up by $9K month over month and by $44K year over year.

Seeing how the prices just keep going up, you can see that if you bought a home in May of 2017 you would have paid $44K less than if you are purchasing this May. I don’t expect to see that trend change. So if you are wanting to buy now, do it! And of course you know who to contact for that! 😉

Brokerage: Silvercreek Realty Group-1099 S Wells St Suite 200, Meridian, ID 83642

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