Archive for the ‘ Selling Your Home ’ Category

Boise Real Estate Market Statistics-November 2014

Ada County November Market Statistics

Available Homes

# Available: 2355

# Vacant: 1514 (64%)

# Short Sale: 92 (4%)

# Bank Owned: 55 (2%)

Median Asking Price: $249,900

——————————————

Pending Sales

# Pending: 862

Median Asking Price: $239,900

——————————————-

Closed Sales—November 2013

# Closed: 569

# Short Sale: 25 (4%)

# Bank Owned: 33 (6%)

Median Sales Price: $208,000

Median Days on Market: 29

—————————————

Closed Sales—November 2014

# Closed: 534

# Short Sale: 8 (2%)

# Bank Owned: 23 (4%)

Median Sales Price: $215,069

Median Days on Market: 35

—————————————-

Winter Market Ahead!

As November comes to a close, we now enter the official winter market! Inventory is continuing to come down, and it is actually becoming a chore to find enough variety for my buyers! The good news is that the inventory that is available is actually pretty nice and not too badly priced. As always, homes that are in good condition and priced well are moving very quickly, usually within the first few days of being on the market.

Following the usual seasonal pullback are the Pending Sales. They continue to decline and I expect that to continue into February 2015. The Pending Asking Price did go up though!

Closed Sales were down quite a bit this month and were down year over year as well. However, the Median Sales Price was up by $7K over last month, and year over year. We are also seeing the Median Days on Market going up (also to be expected) but as I stated earlier, homes that are priced well and in good shape are moving in a matter of days. Sellers should keep this in mind if they are planning to sell within the next year. Getting ahead of the competition will get you a better offer! So if you are thinking of selling, get your home ready to be on the market by February. And of course if you have any questions about pricing and getting your home ready, let me know, I am here to help!

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

Brokerage is: Silvercreek Realty Group, 1099 S Wells St #200, Meridian ID 83642

Advertisements

Boise Real Estate Market Statistics- August 2014

Ada County August Market Statistics

Available Homes

# Available: 2945

# Vacant: 1653 (56%)

# Short Sale: 115 (4%)

# Bank Owned: 54 (2%)

Median Asking Price: $247,888

————————————–

Pending Sales

# Pending: 956

Median Asking Price: $229,900

————————————–

Closed Sales—August 2013

# Closed: 852

# Short Sale: 49 (6%)

# Bank Owned: 42 (5%)

Median Sales Price: $201,800

Median Days on Market: 20

 

Closed Sales—August 2014

# Closed: 749

# Short Sale: 19 (3%)

# Bank Owned: 25 (3%)

Median Sales Price: $218,990

Median Days on Market: 30

————————————-

What Happened to Summer?

I don’t know about you but I don’t remember August even happening!!! This summer has passed by way too quickly! I originally thought that by years end we would break the 3000 mark for inventory. I may have to revise that and say by October we will be over 3000 homes available. The Median Asking Price decreased slightly by $1100 month over month but year over year it is up by $17K.

As is typical for this time of year, Pending Sales continues to decrease, down yet again from last month. Median Asking Price had a pullback as well, down $5100 month over month.

Closed Sales went down by 100 homes month over month and was down just as much for year over year. Median Sales Price went up by $5K gaining back last month’s loss. The Median Days on Market is now at 30, also happening sooner than I expected. This time last year Median Days on Market was at 20. I have found that homes are sitting a bit longer on the market right now, largely due to the increased inventory. The only homes moving quick are those that are priced below market! No surprise there!

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

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

 

Boise Real Estate Market Statistics – July 2014

Ada County July Market Statistics

Available Homes

# Available: 2887

# Vacant: 1569 (54%)

# Short Sale: 109 (4%)

# Bank Owned: 62 (2%)

Median Asking Price: $249,000

————————————

Pending Sales

# Pending: 997

Median Asking Price: $235,000

—————————————

Closed Sales—July 2013

# Closed: 910

# Short Sale: 57 (6%)

# Bank Owned: 47 (5%)

Median Sales Price: $206,898

Median Days on Market: 19

———————————–

Closed Sales—July 2014

# Closed: 849

# Short Sale: 12 (1%)

# Bank Owned: 35 (4%)

Median Sales Price: $213,600

Median Days on Market: 23

————————————

Dog Days of Summer!

Well the dog days of summer are upon us! The real estate market is definitely showing the signs of leveling off for the season. However, inventory is continuing its rise and I am thinking we will see the available inventory go over the 3000 mark before years end. Something we have not seen for several years! The Median Asking Price has been doing a see-saw for the past several months, with July pulling back by $8k from June.

Pending Sales continues to decrease, now under 1000 and I am expecting to see this trend at least until December. Median Asking Price did rise slightly so we will see how that translates for August Closed Sales Prices.

Closed Sales were up but only by 30 homes month over month. We continue to see that year over year, 2013 was a much stronger year. The Median Sales Price saw a $4K decrease month over month and was only $7K more than last year. The Median Days on Market is slowly increasing and should be back in the 30’s by October. Overall, even though it feels like a slow market, relative to last year, this year is actually what is considered a normal or healthy market.

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

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

Boise Real Estate Market Statistics – January 2014

Ada County January 2014  Market Statistics

Available Homes
# Available: 2030
# Vacant: 1312 (65%)
# Short Sale: 156 (8%)
# Bank Owned: 58 (3%)
Median Asking Price: $224,900

————————————–

Pending Sales
# Pending: 785
Median Asking Price: $220,000

—————————————

Closed Sales—January 2013
# Closed: 381
# Short Sale: 51 (13%)
# Bank Owned: 31 (8%)
Median Sales Price: $184,990
Median Days on Market: 30

————————————-

Closed Sales—January 2014
# Closed: 405
# Short Sale: 14 (3%)
# Bank Owned: 34 (8%)
Median Sales Price: $208,200
Median Days on Market: 47

—————————————

2014 Starts in a Mixed Way…

The 2014 real estate market has begun! Inventory inched back up and so did the Median Asking Price. We continue to see the distressed inventory dry up but we are also seeing an increase in new build jobs. This will for sure keep the Median Asking Price on the rise.

The number of Pending Sales went up but there was a slight pullback in Median Asking Price. Even with the winter weather hanging around we should continue to see the Pending Sales go up as many buyers try to take advantage of low interest rates.

Closed Sales saw a big pull back from last month but is still up from a year ago. The Median Sold Price was up both month over month and year over year. The Median Days on Market went up but I do expect to see that  start coming back down as we approach March. As home prices rise I also expect to see short sales disappear from the market as sellers finally come out from underwater.

For additional information regarding the Boise Real Estate Market please go to my website: www.BoiseRealEstateChick.com

—————————————-

All numbers are based on data from the Intermountain Multiple Listing Service.

Silvercreek Realty Group – 1099 S Wells St. Ste. 200, Meridian, ID 83642

Boise Real Estate Market Statistics-December 2013

Below are the Boise Real Estate Market Stats for December 2013. These numbers reflect Active, Pending, and Sold single family/ single family with acreage homes. All numbers are from the Intermountain Multiple Listing Service.

Ada County December Market Statistics

Available Homes

# Available: 2002

# Vacant: 1286 (64%)

# Short Sale: 161 (8%)

# Bank Owned: 70 (3%)

Median Asking Price: $220,500

—————————————

Pending Sales

# Pending: 712

Median Asking Price: $229,900

————————————–

Closed Sales—December 2012

# Closed: 477

# Short Sale: 86 (18%)

# Bank Owned: 30 (6%)

Median Sales Price: $179,000

Median Days on Market: 32

————————————–

Closed Sales—December 2013

# Closed: 543

# Short Sale: 28 (5%)

# Bank Owned: 35 (6%)

Median Sales Price: $198,000

Median Days on Market: 35

————————————–

2013 Year End Numbers are in…

2013 proved to be a very strong market for real estate. Sellers finally saw some daylight as home prices moved upward. Buyers had more options with increased inventory and continued low-interest rates. Will 2014 continue the seller’s market? Will buyers be able to stay in the game or will many have to wait it out?

Our current inventory has had some pull back, going down by 15 percent. This is actually a pretty good indicator of a “normal” market as homeowners of existing homes wait until after the holiday season to list their homes. However, my concern is the number of new build jobs out there. Of all the current available inventory (2002 homes), 739 of them are new build jobs. That is 37%percent of the market! If that trend continues it  could make it difficult for existing home sellers (in the under $400K price range) to compete.

Because interest rates seem to be staying in the 3.75 to 4.75 percent range buyers are still getting good deals on their loans. However, prices are rising and I am expecting a very active spring. Sellers are wanting top dollar and are not making too many (if any) concessions on offers they receive. My advice, if you are thinking of buying do so now and make your first offer your best one.

Thinking of Selling?

If you are considering selling your home, don’t wait until the end of April or May! The time to get your home on the market is in March. This gives you a jump-start on the spring sellers who wait. With less competition your home will sell for more and will sell quicker! If you (or someone you know) is thinking about selling, please contact me and I will do a free Current Market Analysis to show you what your home is worth. My contact info: mary@BoiseRealEstateChick.com or got to my website: www.BoiseRealEstateChick.com

My brokerage is :Silvercreek Realty Group, 1099 S Wells St., Ste #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

—————————————-

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

—————————————

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

————————————

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!

—————————————————————————

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 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

———————————————

Pending Sales

# Pending: 1074

Median Asking Price: $209,900

———————————————-

Closed Sales—August 2012

# Closed: 736

# Short Sale:102 (14%)

# Bank Owned: 52 (7%)

Median Sales Price: $180,000

Median Days on Market: 25

——————————————

Closed Sales—August 2013

# Closed: 821

# Short Sale: 49 (6%)

# Bank Owned: 41 (5%)

Median Sales Price: $201,850

Median Days on Market: 21

——————————————–

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

 

 

Advertisements
%d bloggers like this: