Archive for the ‘ Meridian ’ Category

Boise Real Estate Market Statistics- April 2014

Below are the Boise Real Estate Market Statistics for April 2014. Numbers reflect single family/single family on acreage that are either Available, Pending or have Sold. All data is taken from the Intermountain Multiple Listing Service.

Ada County April Market Statistics

Available Homes

# Available: 2464

# Vacant: 1293 (53%)

# Short Sale: 113 (5%)

# Bank Owned: 67 (3%)

Median Asking Price: $258,990

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Pending Sales

# Pending: 1116

Median Asking Price: $225,000

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Closed Sales—April 2013

# Closed: 736

# Short Sale: 87 (12%)

# Bank Owned: 68 (9%)

Median Sales Price: $186,370

Median Days on Market: 20

 

Closed Sales—April 2014

# Closed: 669

# Short Sale: 29 (4%)

# Bank Owned: 42 (6%)

Median Sales Price: $209,000

Median Days on Market: 20

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Asking Price on the Rise!

As I put together the April statistics (remember my newsletter reflects the previous month) I am shocked at the Median Asking Price jump. It is up by $16K over March and March was up by $12K over February! That is a $28K price increase, and in my opinion, that is a pretty steep jump in just a few months time. Not sure that trend can continue into the summer without losing quite a few first time buyers though.

Pending Sales are up but only by 106 homes. Interestingly, even though the Median Asking Price has had such a huge jump for Available homes, that has not been the case for Pending Sales. The Median Asking Price only went up $100 since last month. Another item to note is that year over year Pending Sales are actually down.

For Closed Sales we saw a modest increase in the number of sold homes. The Median Asking Price did see a jump of about $11K, that number has been going back and forth for several months, but it has been awhile since we have been over the $200K mark. And look at the Median Day on Market! 20 Days! Now that is a sure sign of a spring market! I do not expect that to get too much lower and actually after our May numbers come in, it should start trending back up.

For additional information please go to my website:  http://www.BoiseRealEstateChick.com

Silvercreek Realty Group, 1099 S Wells Way, Suite 200, Meridian, ID 83642

 

 

 

 

 

Boise Real Estate Market Statistics -October 2013

Boise Area – October 2013
Available Homes
# Available: 2541
# Vacant: 1426 (56%)
# Short Sale: 195 (8%)
# Bank Owned: 68 (3%)
Median Asking Price: $225,000

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Pending Sales
# Pending: 896
Median Asking Price: $219,900

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Closed Sales—October 2012
# Closed: 652
# Short Sale: 90 (14%)
# Bank Owned: 66 (10%)
Median Sales Price: $175,000
Median Days on Market: 30

Closed Sales—October 2013
# Closed: 621
# Short Sale: 31 (5%)
# Bank Owned: 23 (4%)
Median Sales Price: $214,900
Median Days on Market: 26

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Inventory rose a bit again as did vacancies. All due to new home construction! The asking price came down another $5k from last month. I am expecting inventory to level off for the next few months as the holidays and weather slow the market down a little.

The number of Pending Sales continues its downward trend as is typical for this time of year. Pending asking price is down a bit as well. This will probably translate into lower closed sales prices for November closings.

The number of Closed Sales are down not only month over month but year over year. Median sales prices went up though, due to a decrease of homes sold in the under $100k price range and an increase in the over $400k range. I don’t expect that trend to continue!

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Is it time to refinance?

If your mortgage interest rate is higher than 4 percent, you may want to consider refinancing. A fifteen year mortgage is currently going for around 2.75 percent. You may pay more per month but over the life of the loan you will save yourself tens of thousands of dollars. Even if you do not stay in your home another 15 years, you will still pay down the loan faster giving you more equity when you do sell. Contact me for more info by going through my website: www.BoiseRealEstateChick.com or my e-mail: mary@BoiseRealEstateChick.com

 

 

 

Boise Real Estate Market – September 2013

Below are the numbers for Active, Pending and Sold properties in the Boise Real Estate Market area for September 2013. These numbers are based on info from the Intermountain Multiple Listing Service for single family/single family with acreage homes.

Ada County (Boise) September Market Statistics

Available Homes
# Available: 2525
# Vacant: 1350 (53%)
# Short Sale: 180 (7%)
# Bank Owned: 74 (3%)
Median Asking Price: $230,000

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Pending Sales
# Pending: 916
Median Asking Price: $221,839

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Closed Sales—September 2012
# Closed: 580
# Short Sale:92 (16%)
# Bank Owned: 36 (6%)
Median Sales Price: $174,850
Median Days on Market: 23

Closed Sales—September 2013
# Closed: 701
# Short Sale: 37 (5%)
# Bank Owned: 24 (3%)
Median Sales Price: $194,000
Median Days on Market: 21

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Fall is Upon Us!

More than leaves are falling in the Ada County real estate market! The seasonal pullback continues and I expect it to remain flat into early 2014. Although we may see a slight increase in activity towards the end of this year which is historically typical. Even with that I don’t anticipate any major jumps in pricing before next spring.

As you can see inventory is continuing to go up as builders try to take advantage of what was a low inventory market. However, the new inventory is starting to out pace demand and could result in shifting us back into a buyers market as existing homes try to compete with the new homes.

With the cooling off of sales, Pending Sales are now under 1000 for the first time in several months. Expect to see that trend into spring time.

The number of Closed Sales are down again month over month but are still above last year.    For the first time since May of this year we are under a $200K sales price. Meanwhile the distressed sales made up less than 8 percent of sold properties. We may see the number of bank owned homes for sale go up a little as the lenders try to unload inventory before the end of the year.

If you would like additional information regarding the Boise Real Estate Market, please go to my website: www.BoiseRealEstateChick.com

 

Boise Real Estate Market Statistics-August 2013

Below are the Boise Real Estate Market Statistics for August 2013. These numbers reflect single family/single family homes that are Available, Pending, or have Sold and is taken from the Intermountain Multiple Listing Services data.

Ada County August Market Statistics

Available Homes

# Available: 2466

# Vacant: 1260 (51%)

# Short Sale: 194 (8%)

# Bank Owned: 75 (3%)

Median Asking Price: $229,900

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Pending Sales

# Pending: 1074

Median Asking Price: $209,900

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Closed Sales—August 2012

# Closed: 736

# Short Sale:102 (14%)

# Bank Owned: 52 (7%)

Median Sales Price: $180,000

Median Days on Market: 25

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Closed Sales—August 2013

# Closed: 821

# Short Sale: 49 (6%)

# Bank Owned: 41 (5%)

Median Sales Price: $201,850

Median Days on Market: 21

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Good-bye Summer!

The last few months have been outstanding for real estate but our August numbers reflect a slowing down that started occurring in July. This is actually a good thing! The asking prices were moving up faster than the market could allow. I realize there are many who would like to see their home values go back to what they were during the height of the market. That wasn’t a healthy market nor was it sustainable, we certainly do not want to see a repeat!

Available inventory increased again this month as did the number of vacant homes. This is due to an increase in build jobs. Total number of distressed inventory remains at about 12 percent of the market.

Pending Sales are seeing a pullback but has stayed over 1000 for several months now. My guess is that it will stay around the 1000 mark until at least November.

Closed Sales are down from last month as is the Sales Price. We are also seeing the gap between last years sales numbers and this years getting much closer. My guess is that we will see almost identical sales numbers come the November time frame as well.

If you would like additional information regarding the Boise Real Estate Market please go to my website: www.BoiseRealEstateChick.com or e-mail me at mary@BoiseRealEstateChick.com

 

 

Boise Real Estate Market Statistics – July 2013

Below are the Boise Real Estate Market Statistics for July 2013. These numbers are based on information from the Intermountain Multiple Listing Service for single family/single family with acreage homes that are Available, Pending, or have Sold.

Ada County July Market Statistics

Available Homes
# Available: 2312
# Vacant: 1140 (49%)
# Short Sale: 216 (9%)
# Bank Owned: 63 (3%)
Median Asking Price: $233,145

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Pending Sales
# Pending: 1239
Median Asking Price: $212,500

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Closed Sales—July 2012
# Closed: 647
# Short Sale: 102 (16%)
# Bank Owned: 56 (9%)
Median Sales Price: $172,000
Median Days on Market: 23

Closed Sales—July 2013
# Closed: 892
# Short Sale: 57 (6%)
# Bank Owned: 46 (5%)
Median Sales Price: $206,487
Median Days on Market: 20

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Dog Days of Summer

Things have settled down a bit in Ada County! Keep in mind I am speaking relative to our crazy spring. All numbers indicate we are still going very strong but as is typical this time of year, the market flattens out a bit.

Available inventory had another increase by about 300 properties over last month and an increase of over 500 properties since May. We saw another slight pull back in the asking price. Over the past few months it looks as if the median asking price is settling in the $230K range.

The number of Pending Sales pulled back, down another 100 since last month. The median asking price was down as well by $4k.

Oddly the number of Closed Sales was up! Especially considering that we have seen historic highs the past few months and these are July numbers. However, the Median Sales Price is down by about $4k reflecting the pullback in pricing for Available and Pending listings. I think the market will continue to stay relatively strong but I do think as we head into fall, the prices will not be moving much in either direction.

If you would like additional information regarding the Boise Real Estate Market, please go to my website: www.BoiseRealEstateChick.com or you can e-mail me: mary@BoiseRealEstateChick.com

 

 

By the Numbers….Boise -June 2013

By the Numbers…Boise (Ada County

Number of homes on the market:
June 2011: 2583
June 2012: 2097
June 2013: 2081

Median Asking Price:
June 2011: $179,900
June 2012: $215,500
June 2013: $235,000

Number of Pending Sales:
June 2011: 926
June 2012: 1223
June 2013: 1342

Median Sold Price:
June 2011: $150,000
June 2012: $174,585
June 2013: $210,823

Number of Distressed Homes Sold:
June 2011: 283
June 2012: 183
June 2013: 99

Boise Real Estate Market Statistics for June 2013

Below are the numbers for the Boise Real Estate Market for June 2013. These numbers are taken from the Intermountain Multiple Listing Service for Ada County (Boise, Meridian, Eagle, Kuna, and Star) for single family/single family with acreage.

 

Ada County June Market Statistics

 Available Homes

# Available: 2081

# Vacant: 996 (48%)

# Short Sale: 232 (11%)

# Bank Owned: 59 (3%)

Median Asking Price: $235,000

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 Pending Sales

# Pending: 1342

Median Asking Price: $216,731

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Closed Sales—June 2012

# Closed: 706

# Short Sale: 109 (15%)

# Bank Owned: 79 (11%)

Median Sales Price: $174,000

Median Days on Market: 24

 

Closed Sales—June 2013

# Closed: 822

# Short Sale: 55 (7%)

# Bank Owned: 44 (5%)

Median Sales Price: $210,823

Median Days on Market: 17

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Summer Market

The Ada County summer market is behaving as expected. Sales are slowing down a bit, allowing for inventory to increase. June closed out the spring market with very strong numbers and July is not looking too shabby!

 The Available inventory finally went over the 2000 mark for the first time since November 2012. The Median Asking Price pulled back by $4k from May. As inventory increases we will see the median asking price start to level off or decrease.

 The Pending Sales saw a decrease of 116 and the Median Asking price only rose by $200. As the summer market continues we should see these number continue to shrink a bit.

 The number of Closed Sales stayed exactly the same, which was at historical highs last month. The percent of distressed homes also stayed the same at 12 percent of the market. The big news is the Median Sales Price! It was up by $15K from last month and over $25K since April! That is a huge! Year over year it is up by over $36K! Are you thinking of selling? Come on in, the water is definitely warm! 

If you would like to know what your home may be worth please go to my website: http://www.BoiseRealEstateChick.com

 

 

 

 

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