Posts Tagged ‘ boise homes for sale ’

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-February 2016

Ada County February Market Statistics

Available Homes

# Available: 1681

# Vacant: 1042 (62%)

# Short Sale: 42 (2%)

# Bank Owned: 16 (1%)

Median Asking Price: $285,990

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Pending Sales

# Pending: 1295

Median Asking Price: $249,900

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Closed Sales—February 2015

# Closed: 528

# Short Sale:15 (3%)

# Bank Owned: 27 (5%)

Median Sales Price: $218,000

Median Days on Market: 40

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Closed Sales—February 2016

# Closed: 592

# Short Sale: 7 (1%)

# Bank Owned: 5 (1%)

Median Sales Price: $234,950

Median Days on Market 26

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The Real Estate Market is Crazy!

Spring has sprung early for our local real estate market! Due to low inventory, homes are going within days right now and many with multiple offers. I cannot say this enough, if you are thinking of selling or know someone who is, now is the time!

Inventory went up from last month by 14 homes, so basically we are flat month over month. Median asking price went up by $10k and we should expect to see that trend continue over the next few months.

The big story is the jump in Pending Sales! Up by 219 from last month, we are at historic highs with the current number at 1295. This time last year the number of Pending Sales was at 1030, and that was a high for March at that time!

Also at historic highs are the number of Closed Sales, up by 106 month over month and by 64 year over year. Less than 2 percent of the Closed Sales market were distressed. All but gone are the short sales and bank owned properties. The median Days On Market are down to 26. Just for comparison, last year was 40 DOM and in 2011 (bottom of the market) it was 70 DOM. Crazy market indeed!

For more information regarding the Boise Real Estate Market, 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=January 2016

Ada County January Market Statistics

Available Homes

# Available: 1667

# Vacant: 1150 (69%)

# Short Sale: 46 (3%)

# Bank Owned: 22 (1%)

Median Asking Price: $275,000

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Pending Sales

# Pending: 1076

Median Asking Price: $255,500

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Closed Sales—January 2015

# Closed: 435

# Short Sale:18 (4%)

# Bank Owned: 31 (7%)

Median Sales Price: $222,300

Median Days on Market: 42

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Closed Sales—January 2016

# Closed: 486

# Short Sale: 5 (1%)

# Bank Owned: 19 (4%)

Median Sales Price: $237,569

Median Days on Market: 34

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2016 Begins!

As we start the New Year, it is starting to look like this is going to be a very interesting year! Inventory in January has not been this low since 2013, with 70 percent of the current available homes being vacant. With low inventory but high vacancies, we can see that the primary sellers on the market right now are builders and investors, both trying to take advantage of a market that is probably going to peak this year.

Once again we see a record number of homes Pending. Typically we are at anywhere from 700 to 800 but have been staying at the 1000 plus mark for several months now. To give some perspective, in 2011 (market bottom), there were only 584 homes Pending! Almost double that right now!

The only trend that was at the normal mark was how many homes closed for January 2016. While we had a big pull back month over month, we are above last years average. We are still hanging around the 30 day mark for Days on Market.

I am holding to my prediction that the Spring market is going to be crazy. Buyers are out there and waiting for decent inventory, and interest rates just went down again (3.8 percent on a 30 yr fixed). This is a really good time to be a seller!

For more information regarding the Boise Real Estate Market, 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-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-November 2015

Ada County November Market Statistics

Available Homes

# Available: 2017

# Vacant: 1295 (64%)

# Short Sale: 63 (3%)

# Bank Owned: 26 (1%)

Median Asking Price: $275,990

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Pending Sales

# Pending: 1243

Median Asking Price: $249,900

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Closed Sales—November 2014

# Closed: 562

# Short Sale: 8 (1%)

# Bank Owned: 23 (4%)

Median Sales Price: $216,197

Median Days on Market: 35

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Closed Sales—November 2015

# Closed: 632

# Short Sale: 10 (2%)

# Bank Owned: 12 (2%)

Median Sales Price: $240,150

Median Days on Market: 22

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Happy Holidays!

As the year 2015 comes to a close, I want to wish you the very best during this holiday season and for a prosperous and healthy New Year!

As we head into the final month of the year, inventory continues to drop. We are down by 326 homes since last month! Of note is that in Meridian seventy four percent of the homes (415) available are vacant! Of those vacant homes 320 are new construction! The asking price has remained flat for the past three months.

Pending Sales were up by another 60 homes! We normally see a pull back in the market through the fall months but that has yet to happen. The median asking price was down though.

The number of Closed Sales did see a pull back from last month but year over year it is up. The Closed Sales Price was up by $12K month over month, and by $24K year over year. The Median Days on Market have not budged for the past few months, staying at 22. This is also unusual for this time of year. Normally homes sit a little longer going into the winter months so if we continue on this trend, we could see homes selling in a matter of days come spring!

If you would like to 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 Meridian ID 83642

 

 

 

 

Boise Real Estate Market Statistics-October 2015

Ada County October Market Statistics

Available Homes

# Available: 2343

# Vacant: 1351 (58%)

# Short Sale: 69 (3%)

# Bank Owned: 28 (1%)

Median Asking Price: $275,000

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Pending Sales

# Pending: 1183

Median Asking Price: $257,900

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Closed Sales—October 2014

# Closed: 696

# Short Sale: 13 (2%)

# Bank Owned: 26 (4%)

Median Sales Price: $209,600

Median Days on Market: 34

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Closed Sales—October 2015

# Closed: 811

# Short Sale: 9 (1%)

# Bank Owned: 14 (2%)

Median Sales Price: $228,000

Median Days on Market: 22

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Counting Our Blessings!

Thanksgiving is always a time to reflect and count our many blessings! I know I feel blessed to have so many great clients, past and present, and to have your referrals as well! My business this year was completely done by referral and I cannot begin to express my gratitude for your trust and your business! So a HUGE Thank You!

Moving further into the fall season we are not seeing much movement, up or down. The Active inventory was down by another -84 homes and the asking price was flat, month over month. As we approach the winter months we will watch to see how this plays out and its meaning for the spring market!

Our Pending Sales were down slightly but still well above where we normally are at this time of year. If you look at the right hand column you will see that historically we are usually under 900. This tells us that buyers are still active right now!

Closed Sales were down slightly (-28) but still well above year over year sales. The sales price was down by -$2K month over month but up by +$19K year over year. Days on market are still relatively low at 22.

Without making any bold predictions, I think I can safely say that if we don’t see a pull back in the next month or so, the spring market is going to be historic!

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

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

 

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