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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

Boise Real Estate Market Statistics-May 2015

Ada County May Market Statistics

Available Homes

# Available: 2336

# Vacant: 1251 (54%)

# Short Sale: 74 (3%)

# Bank Owned: 30 (1%)

Median Asking Price: $278,852

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Pending Sales

# Pending: 1504

Median Asking Price: $242,270

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Closed Sales—May 2014

# Closed: 807

# Short Sale: 22 (2%)

# Bank Owned: 29 (4%)

Median Sales Price: $209,000

Median Days on Market: 17

Closed Sales—May 2015

# Closed: 918

# Short Sale: 11 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $228,000

Median Days on Market: 13

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May Continues the Strong Market!

We ended May with a real estate market that is one of the strongest I have seen in years. While I am expecting slightly lower numbers in June, it won’t be by much!

Inventory was up a little (+76) and asking price was up by $2K. Homes are moving pretty quick primarily because there really isn’t a lot of inventory to pick from. This time last year there were over 2600 homes on the market versus this years 2300!

The big story is in the number of Pending Sales for May! Currently there are 1504 pending! I have been tracking the market for 6 years now and this is the highest number of pending sales in that time period!

Not surprisingly, the number of closed sales was up as well for both month over month and year over year. Sold price was up by $12K ($228K) from last month and by $20K from last year. The median time on market is down to 13 days! Not sure we will go any lower than that for June but we will see!

Looking at the market historically, this year may go down in the books as the height of the market for this real estate cycle! Next year is an election year and that usually causes a pull back in the market. So if you are ready to sell, make it this year!

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

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

Boise Real Estate Market Statistics- April 2015

Ada County – April Market Statistics

Available Homes

# Available: 2260

# Vacant: 1198 (53%)

# Short Sale: 66 (3%)

# Bank Owned: 28 (1%)

Median Asking Price: $276,749

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Pending Sales

# Pending: 1420

Median Asking Price: $245,000

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Closed Sales—April 2014

# Closed: 686

# Short Sale: 29 (4%)

# Bank Owned: 42 (6%)

Median Sales Price: $207,900

Median Days on Market: 20

Closed Sales—April 2015

# Closed: 830

# Short Sale: 9 (1%)

# Bank Owned: 30 (4%)

Median Sales Price: $216,600

Median Days on Market: 18

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April Sales Stay Strong!

April continues the strong spring market! The Boise area saw an early start to its spring market and that is continuing now into April and should into May. Looking back to last April, I see that 2014 was a fairly quiet year. There was more inventory but lower sales numbers. This years active inventory is up month over month but still below last years level of 2464. Asking price is up this month by another $2K.

Pending Sales were up month over month (+195) and year over year (+304). The Asking Price was up by $10K month over month and +$20K year over year.

Closed sales saw another increase from last month (+116) and year over year (+144). Sales price decreased by $4K month over month but an increase of $10K year over year. We are also seeing that the median average Days on Market are staying at about the 18 to 20 day time frame. Pretty typical for the spring market.

We are not hitting “bubble” numbers yet! We have about 2 months of inventory (healthy is 6 months or less). At the height of the market it was 16 months! Inventory is moving fairly quickly but it depends on the area and the price point. So for the moment we are looking pretty good!

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

Boise Real Estate Market Statistics- March 2015

Boise, ID March Market Statistics

Available Homes

# Available: 2054

# Vacant: 1141 (55%)

# Short Sale: 64 (3%)

# Bank Owned: 35 (2%)

Median Asking Price: $274,900

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Pending Sales

# Pending: 1225

Median Asking Price: $234,900

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Closed Sales—March 2014

# Closed: 601

# Short Sale: 30 (5%)

# Bank Owned: 41 (7%)

Median Sales Price: $197,500

Median Days on Market: 32

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Closed Sales—March 2015

# Closed: 714

# Short Sale: 18 (2%)

# Bank Owned: 30 (4%)

Median Sales Price: $220,750

Median Days on Market: 22

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March Came Roaring In!

March came roaring in like a lion for sure! Everything is up and days on market are way down! Ask any buyer who is trying to bid on a home right now, being quick is key!

Active listings are now over the 2000 mark as inventory will continue to grow over the next few months. However, compared to last year, the current inventory is still lower, which is why we are seeing the price increases. Asking price jumped up another $10K from last month, now at $274K, and is up $30K since this same time last year!

Pending Sales jumped up by another 195 and well above last years numbers. Even though the Asking Price is down by $5K month over month, it is up by $10K year over year.

Closed sales saw a huge jump! 708 homes sold, that is 200 more homes than last month, and 100 more than this same time last year! Median Sales Price was up by $6K month over month and up by over $23K since last year!

My advise to buyers and sellers! If you are thinking about buying or selling a home right now, do it now! Interest rates are still extremely low but home prices are going up. Don’t get priced out of the market. And seller’s, market is super hot. Priced right, and move in ready homes are going in days, some with multiple offers!

If you would like more 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

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