Posts Tagged ‘ ADA County ’

Boise Real Estate Market Statistics-April 2016

Ada County April 2016 Market Statistics

Available Homes

# Available: 1848

# Vacant: 1080 (58%)

# Short Sale: 32 (2%)

# Bank Owned: 16 (1%)

Median Asking Price: $299,900

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Pending Sales

# Pending: 1706

Median Asking Price: $254,900

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Closed Sales—April 2015

# Closed: 831

# Short Sale: 9 (1%)

# Bank Owned: 30 (4%)

Median Sales Price: $217,000

Median Days on Market: 18

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Closed Sales—April 2016

# Closed: 936

# Short Sale: 7 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $239,450

Median Days on Market: 12


Sellers Market!

The real estate market here is showing no signs of pullback just yet. Pricing is now back at the levels it was at during the 2006-2007 time frame. What is different now is the inventory level. It is still very low. In July of 2007, Ada County hit a high of 5198 homes on the market and in 2013 we hit a low of 1664. Currently, we are at 1848, just barely off of that low number.

We are in a very strong sellers market! A balanced market is 4-6 months of inventory supply. Currently we are under 4 months supply for homes that are $500K or less. By this time of the year we should see a significant rise in inventory and we are not. The biggest issue I am finding with potential sellers is not whether they can sell their home quickly, it is the fear that they will not be able to find a home to move to. And that is keeping many sellers from putting their homes up for sale and thus continuing the inventory shortage. It’s sort of a Catch-22!

Recently I have been asked by many potential sellers, should they wait until next year? I do not have a crystal ball! I do know the market is good for sellers right now but next year may prove to be very different. We are in the midst of an election cycle and we know how that can go! So my advice is if you are wanting to sell, do it now!

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 #200, Meridian, ID 83642

 

 

 

 

 

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Boise Real Estate Market Statistics-March 2016

Ada County March Market Statistics

Available Homes

# Available: 1787

# Vacant: 1049 (58%)

# Short Sale: 36 (2%)

# Bank Owned: 14 (1%)

Median Asking Price: $299,900

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Pending Sales

# Pending: 1486

Median Asking Price: $251,564

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Closed Sales—March 2015

# Closed: 718

# Short Sale:18 (3%)

# Bank Owned: 30 (4%)

Median Sales Price: $222,700

Median Days on Market: 23

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Closed Sales—March 2016

# Closed: 810

# Short Sale: 6 (1%)

# Bank Owned: 15 (2%)

Median Sales Price: $235,000

Median Days on Market: 15


March Madness!

Last month I wrote that the Spring market had hit early. Well, last month looks tame relative to what is going on in the market right now! Not sure how long we can sustain this without it turning into a full scale bubble!?!

Even though inventory is up from last month, it is only up by 106 homes. This is not enough to meet the current buyer demand. Sellers are getting a little aggressive with their Asking Price; it is up another $14K.

The number of Pending Sales continues to rise. We are up by another 191 month over month, with last month being a record and this month is even higher. The Median Pending Price was up by $2K.

Closed Sales were up both month over month and year over year. However, the Sales Price was flat. Honestly, I see that as a good thing. I am very worried about the jump in Asking Price so I like to see that the Sold Price is stable. Days on Market are down to 15. So basically it is taking two weeks on market for a home to get an offer. What I am seeing in the April market, it is even shorter. Granted this is for certain price points but homes under $250K are moving anywhere from 2 hours to 2 days with multiple offers!

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 #200 Meridian ID 83642

 

 

 

Boise Real Estate Market Statistics-December 2015

Ada County December Market Statistics

Available Homes

# Available: 1765

# Vacant: 1210 (68%)

# Short Sale: 51 (3%)

# Bank Owned: 19 (1%)

Median Asking Price: $269,190

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Pending Sales

# Pending: 922

Median Asking Price: $261,250

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Closed Sales—December 2014

# Closed: 629

# Short Sale:15 (2%)

# Bank Owned: 39 (6%)

Median Sales Price: $216,700

Median Days on Market: 39

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Closed Sales—December 2015

# Closed: 806

# Short Sale: 14 (2%)

# Bank Owned: 11 (1%)

Median Sales Price: $232,500

Median Days on Market: 29

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Closing out 2015!

December 2015 closed out the real estate market just like it started last January, strong! Inventory continues to pull back and buyer demand is still going. 2012 was the last time we saw inventory this low and the asking price that year was $199K! Keep in mind 2012 was the follow-up year of the market bottom.

Pending sales while down under the 1000 mark, is still relatively high for the end of the year. The median asking price was up by $12K month over month.

The number of Closed Sales were up and this is very typical for December. What is not typical is the Days on Market. We are still under 30 days. Normally we are in the 31-40 day range. Sales price was down by $8K month over month but up by over $16K year over year.

My outlook for 2016 is very optimistic up until July-August time frame. With our current low inventory and strong buyer demand, I anticipate a very brisk spring market that should carry into the early summer. And that is where my crystal ball goes cloudy! It is a presidential election year and the past few have shown us that the markets can get very volatile during this time. So for now, if you are planning on buying or selling, do it soon!

Please go to my website for additional information: http://www.BoiseRealEstateChick.com

(all data is from the Intermountain MLS)

Brokerage: Silvercreek Realty Group-1099 Wells St Ste 200 Meridian ID 83642

 

 

 

 

Boise Real Estate Market Statistics-September 2015

Ada County September Market Statistics

Available Homes

# Available: 2427

# Vacant: 1358 (56%)

# Short Sale: 67 (3%)

# Bank Owned: 27 (1%)

Median Asking Price: $275,900

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Pending Sales

# Pending: 1235

Median Asking Price: $254,900

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Closed Sales—September 2014

# Closed: 698

# Short Sale: 12 (2%)

# Bank Owned: 34 (5%)

Median Sales Price: $202,495

Median Days on Market: 27

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Closed Sales—September 2015

# Closed: 839

# Short Sale: 13 (1%)

# Bank Owned: 20 (3%)

Median Sales Price: $230,000

Median Days on Market: 25

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Let Fall Begin!

September numbers for the real estate market look a lot like Augusts. There was no big movement up or down in any of the categories. However, with inventory going down, prices will continue to move up. As we head into the winter months, if prices continue to inch up, our spring market is going to see a pretty substantial increase in pricing. Buyers that are thinking about purchasing should probably do so within the next few months while interest rates are still low and prices somewhat affordable!

Inventory for August was down slightly but asking price was up by $7K month over month. The distressed market (short sales and bank owned) is almost non-existent (less than 4 percent) which in turn is helping the increase in pricing.

Pending sales continue their pullback but not by much! Usually by this time of year we are under 1000 but as of right now we are staying above that. It will be interesting to see where we are at the end of November. If we continue over 1000 at that point, it will be record-setting!

Closed sales saw a slight decrease and sales price was relatively flat month over month. But year over year is a totally different story! This time last year the number of closed sales was 698 and the sales price was $202K. September 2015 is well above that!

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

Brokerage: Silvercreek Realty Group 1099 S Wells Ave Ste 200 Meridian Idaho 83642

Boise Real Estate Market Statistics-August 2015

Ada County August Market Statistics

Available Homes

# Available: 2452

# Vacant: 1360 (55%)

# Short Sale: 67 (3%)

# Bank Owned: 22 (<1%)

Median Asking Price: $269,900

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Pending Sales

# Pending: 1248

Median Asking Price: $249,999

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Closed Sales—August 2014

# Closed: 777

# Short Sale: 19 (2%)

# Bank Owned: 25 (3%)

Median Sales Price: $218,201

Median Days on Market: 29

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Closed Sales—August 2015

# Closed: 868

# Short Sale: 7 (1%)

# Bank Owned: 24 (3%)

Median Sales Price: $231,250

Median Days on Market: 19

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Closing Out the Summer!

As summer comes to a close, we see the market doing a slight pullback. This is typical for this time of year. Even so, historically we have a very healthy market. Comparing our lowest year in recent history, 2011, to our current market it is amazing to see the difference. August 2011 had 238 distressed homes sold and a median sales price of $153K. This August, there was a total of 31 distressed homes sold and the median sales price is at $231K. Quite a different market!

Looking at the current available inventory, we are down month over month and below last years numbers as well. Asking price is down month over month by -$5K but up b $12K year over year.

Pending sales while down month over month (-94) is still well above the last five years. This really does speak to the very active market we are having this year!

Closed sales are also telling the same story. We are down month over month (-168) but when we look at the year over year numbers we are up by +91. Sales price is up slightly month over month (+$1.25K) and year over year, +$12.2K. Days on market are up to 19 but still historically low. Last year at this time it was 30 days!

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 Ste 200, Meridian Idaho 83642

Boise Real Estate Market Statistics-July 2015

Ada County July Market Statistics

Available Homes

# Available: 2491

# Vacant: 1339 (53%)

# Short Sale: 73 (3%)

# Bank Owned: 39 (1%)

Median Asking Price: $274,988

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Pending Sales

# Pending: 1342

Median Asking Price: $248,330

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Closed Sales—July 2014

# Closed: 859

# Short Sale: 12 (1%)

# Bank Owned: 35 (4%)

Median Sales Price: $214,503

Median Days on Market: 22

Closed Sales—July 2015

# Closed: 1036

# Short Sale: 12 (1%)

# Bank Owned: 14 (1%)

Median Sales Price: $230,000

Median Days on Market: 17

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Lazy Days of Summer, Not So Much!

While we typically see a pullback during the summer months, currently we are seeing a mildly tempered market. There is some downward trending but it is not very significant. The real estate market is still pretty active for this time of year.

Inventory inched up by +30 homes and the median asking price dropped by only $2K. We are not seeing any significant increases in building and with wet weather season (October-November) approaching, inventory will start to drop. However, I do not see pricing going too much lower than it is now. The thing we are watching for is whether or not the feds will raise interest rates. This has been the threat for several years now and nothing ever comes of it, so we will wait and see.

Pending Sales saw a slight pull back month over month (-63) but we are still way higher (+400) then we were this time last year. This tells me that our Closed Sales for the next few months are going to continue to outpace the previous year!

The number of Closed Sales was down by –14 month over month but year over year they were up by +177. Median Sold Price was flat month over month but up by +$15.5K year over year. A trend I expect to see continue for the next several months!

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 Ste. 200, Meridian ID 83642

Boise Real Estate Market Statistics-June 2015

Ada County June Market Statistics

Available Homes

# Available: 2461

# Vacant: 1329 (54%)

# Short Sale: 73 (3%)

# Bank Owned: 32 (1%)

Median Asking Price: $276,500

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Pending Sales

# Pending: 1405

Median Asking Price: $244,900

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Closed Sales—June 2014

# Closed: 828

# Short Sale: 17 (2%)

# Bank Owned: 38 (5%)

Median Sales Price: $217,000

Median Days on Market: 20

Closed Sales—June 2015

# Closed: 1050

# Short Sale: 13 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $229,950

Median Days on Market: 17

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Summer Market Begins!

June starts the official summer market even though the first two weeks reflect the spring market! Mid-June to mid-September reflect the true summer market. No matter how we look at it, the market is continuing its hot trend!

Available homes increased by another 125, however we are still well below last years numbers. Activity in the market is much higher and the inventory is lower fueling this current market. While month over month median asking price is down by $2K, year over year is up by almost $20K.

While we see a slight pull back in Pending Sales month over month (down by 99) we are still well above last years by almost 400. We peaked in May and will continue to see the Pending Sales decrease but historically we are still above our normal.

Closed Sales were up month over month and for year over year. Closed Sales price was up by $1.5K month over month and up by $12K year over year. The Median Days on Market are at 15, meaning it takes about 15 days for a home to get an accepted offer. Anything less than 25 is a fast-moving 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 Well St Ste. 200, Meridian, ID 83642

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