Posts Tagged ‘ Boise Idaho real estate ’

Boise Real Estate Market Statistics- September 2017

Ada County September Market Statistics

Available Homes
# Available: 1977
# Vacant: 1214 (61%)
# Short Sale: 6 (<1%)
# Bank Owned: 2 (<1%)
Median Asking Price: $332,499

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Pending Sales
# Pending: 1581
Median Asking Price: $299,000

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Closed Sales—September 2016
# Closed: 1035
# Short Sale: 5 (<1%)
# Bank Owned: 8 (1%)
Median Sales Price: $249,900
Median Days on Market: 15

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Closed Sales—September 2017
# Closed: 1074
# Short Sale: 1 (<1%)
# Bank Owned: 4 (<1%)
Median Sales Price: $272,842
Median Days on Market: 12

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Fall Market Begins!

The Fall market has begun and it looks a lot like the summer market. That is to say that not much if any increase in inventory. Prices (median) continue to stay well above the $300K, distressed properties are all but gone from the market, and homes are still going as quickly as they go on the market (in the under $350K price range that is).
The number of homes pending saw a slight pull back from last month. Down by 142 but still looking healthy for this time of year.

The number of homes that closed this month was down also from last month (-104). The closed sales price was down by -$6K month over month but was up by $23K year over year. The number of Days on Market stayed steady at 12. I am thinking that will increase a little bit as we get closer to Christmas.

As we get closer to the end of the year, I don’t see much changing between now and the end of December. Most sellers are looking at a Spring market and buyers are hoping for a good deal to hit before then! So Seller’s, if you are thinking of waiting until spring but are ready now, do it! And of course give me a call, I can help you with that!

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

Boise Real Estate Market Statistics-August 2017

Ada County August Market Statistics

Available Homes
# Available: 19278
# Vacant: 1113 (58%)
# Short Sale: 7 (<1%)
# Bank Owned: 4 (<1%)
Median Asking Price: $330,000

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Pending Sales
# Pending: 1723
Median Asking Price: $298,000

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Closed Sales—August 2016
# Closed: 1066
# Short Sale: 4 (<1%)
# Bank Owned: 7 (<1%)
Median Sales Price: $254,823
Median Days on Market: 14

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Closed Sales—August 2017
# Closed: 1178
# Short Sale: 2 (<1%)
# Bank Owned: 4 (1%)
Median Sales Price: $278,995
Median Days on Market: 12

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Summer Market Comes to an End!

With the summer market coming to an end we see inventory not budging at all. We have not broken the 2000 mark and at this point I am not sure we will for the rest of this year. Median asking price continues to go up though; up another $5K month over month.

No significant changes in the Pending Sales either! Down by 50 and the median asking price stayed flat. Here again I do not expect to see much movement up or down with the Pending sales.

Closed sales were up by 77 month over month and was up year over year. The median sales price was up by $9K month over month and $24K year over year. The median Days on Market inched up a little bit to 12 days.

As I stated in last months newsletter (did you read it?!?) the market is staying pretty steady. Not really sure at this point if we are going to see much movement in the market until maybe next spring. Potential sellers seem to be holding onto their homes due to the lack of inventory for them to move to! Catch-22 for sure! If you have any questions regarding the real estate market (or know someone who does) please feel free to contact me!

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

Boise Real Estate Market Statistics-July 2017

Ada County July Market Statistics

Available Homes
# Available: 1927
# Vacant: 1202 (62%)
# Short Sale: 9 (<1%)
# Bank Owned: 5 (<1%)
Median Asking Price: $325,000

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Pending Sales
# Pending: 1773
Median Asking Price: $299,500

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Closed Sales—July 2016
# Closed: 1105
# Short Sale: 6 (<1%)
# Bank Owned: 10 (1%)
Median Sales Price: $243,000
Median Days on Market: 11

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Closed Sales—July 2017
# Closed: 1101
# Short Sale: 3 (<1%)
# Bank Owned: 11 (1%)
Median Sales Price: $269,900
Median Days on Market: 9

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Dog Days of Summer are Here!

The summer market is in full swing and with that we do see an increase in inventory (+104) but still have not gone over that 2000 mark! The market is doing its usual slowing of pace for the summer. Homes priced under $300K are still going quick!

We also see a slight (very slight) pull back on Pending sales, down by 25 but is still well above last year! Considering we have lower available inventory this year compared to last year, having a higher number of Pending sales speaks to the high demand.

Continuing the light seasonal pullback trend are the Closed sales. Also down month over month by–139 and interestingly down by –4 year over year. Closed sales price was down by $4K month over month but up by $26K year over year.

As we head further into August and September I do not see much changing in inventory or pricing. We are staying pretty steady. This is still a very strong sellers market so you know what I am going to say next: if you are thinking of buying or selling a home (or know someone who is) please contact me! I will be happy to help! Have a wonderful Labor Day weekend!

Brokerage- Silvercreek Realty Group 1099 S Wells Suite 200 Meridian Idaho 83642


 

Boise Real Estate Market Statistics-June 2017

Ada County June Market Statistics

Available Homes
# Available: 1852
# Vacant: 1040 (56%)
# Short Sale: 8 (<1%)
# Bank Owned: 7 (<1%)
Median Asking Price: $338,000

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Pending Sales
# Pending: 1852
Median Asking Price: $297,865

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Closed Sales—June 2016
# Closed: 1204
# Short Sale: 5 (<1%)
# Bank Owned: 11 (1%)
Median Sales Price: $251,371
Median Days on Market: 10

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Closed Sales—June 2017
# Closed: 1240
# Short Sale: 1 (<1%)
# Bank Owned: 6 (1%)
Median Sales Price: $273,150
Median Days on Market: 8

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Spring Market going into the Summer!

The spring market now comes to an end with the June numbers. Really not much new going on! Inventory is up by a mere 32 homes and still staying under that 2000 mark. Not sure we will get above that this year!

Pending sales also rose just a bit, up by 54 homes. The Pending sales price was down by $2K though. However, we are way above what was pending last year at this time. That is up by over 400 homes year over year!

The number of Closed sales were up by another 200 month over month and by 36 for year over year. The Sales Price rose another $10K and is up $22K for year over year. Median Days on Market only went up by 1 day!

I have stated this before but even as crazy as the market may seem right now, it is still pretty steady. No big jumps in pricing, inventory is still low, demand is still high. Demand in the $300K and under market moves very quick though. Ask any buyer right now how many homes have they lost their offering bid to either a much higher bid or a cash offer?

As always, if you are thinking of buying or selling a home (or know someone who is) please contact me! I will be happy to help!

Brokerage-: Silvercreek Realty Group 1099 S Wells Suite 200 Meridian Idaho 83642

Boise Real Estate Market Statistics-May 2017

Ada County May Market Statistics

Available Homes
# Available: 1820
# Vacant: 1055 (58%)
# Short Sale: 9 (1%)
# Bank Owned: 6 (<1%)
Median Asking Price: $334,900

Pending Sales
# Pending: 1798
Median Asking Price: $299,900

Closed Sales—May 2016
# Closed: 1083
# Short Sale: 11 (1%)
# Bank Owned: 13 (1%)
Median Sales Price: $239,990
Median Days on Market: 10

Closed Sales—May 2017
# Closed: 1046
# Short Sale: 2 (<1%)
# Bank Owned: 7 (1%)
Median Sales Price: $263,500
Median Days on Market: 7


May flowers but not by much!

We are well into the Spring market and inventory ticked up by almost 200. But it is still not enough to meet the demand. Homes are getting offers in less than a weeks time. Granted this is for certain price points. Under $350K are moving at a rapid pace while $350K and up are moving a little slower (relatively speaking).

My biggest concern is for the first time buyers. As prices continue to climb these buyers are slowly being priced out of the market. And because there are so few homes coming on the market under $200K the competition is fierce!
The number of Pending Sales is up by another 90 but interestingly enough is down by 16 year over year. This speaks to the lack of inventory. As you will see in the column to the right, 2016 had more inventory to have offers on.
Our Closed Sales were up month over month (+175) but down (-37) year over year. Once again this is due to lack of inventory. The Sold price was up by $12.5K month over month and up by $23.5K year over year. Days on Market are staying steady at 7 days. For homes under $200K it is even lower than that!
We are heading into the summer market which is usually a little slower but due to the lack of inventory, it may not be as slow as usual! Thinking of selling your home (or know someone who is), give me a call! We can see what the best marketing plan is for you!

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

 

Boise Real Estate Market Statistics-April 2017

Ada County April Market Statistic

Available Homes
# Available: 1625
# Vacant: 1027 (63%)
# Short Sale: 10 (1%)
# Bank Owned: 9 (<1%)
Median Asking Price: $338,000

Pending Sales
# Pending: 1708
Median Asking Price: $292,200

Closed Sales—April 2016
# Closed: 967
# Short Sale: 7 (1%)
# Bank Owned: 20 (2%)
Median Sales Price: $239,000
Median Days on Market: 11

Closed Sales—April 2017
# Closed: 871
# Short Sale: 2 (<1%)
# Bank Owned: 7 (1%)
Median Sales Price: $251,000
Median Days on Market: 7


April showers…us with no Inventory!

There was some hope that with spring in full swing that the inventory would pick up but so far, not really. There have been only 88 homes added to the available homes for sale in April. That is not even a dent in what we are in need of. We are looking at historical lows when it comes to inventory for April.
Also, we are looking at historical highs for April Pending Sales. We are up by 222 month over month and for year over year, we are up by 2. The Asking price is up by $9K month over month and year over year it is up by $38K.
Closed Sales are interesting. While they are up by 45 month over month, when we look at them year over year we are down by 96. The Sold price flat month over month and up by $12K year over year. The Days on Market are ridiculous! The Median DOM is down to 7 days! Homes are moving in less than a week at this point. As we head into May/June, I actually expect to see that number go down a bit more.
Home Values are moving up fairly quickly! If you are curious to see what your home may be worth, send me an e-mail, text or call. You may be pretty surprised at how much your home is worth!

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

Boise Real Estate Market Statistics-January 2017

Ada County January Market Statistics

Available Homes

# Available: 1381

# Vacant: 1038 (75%)

# Short Sale: 9 (1%)

# Bank Owned: 6 (<1%)

Median Asking Price: $304,209

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Pending Sales

# Pending: 1007

Median Asking Price: $284,900

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Closed Sales—January 2016

# Closed: 498

# Short Sale: 5 (1%)

# Bank Owned: 18 (4%)

Median Sales Price: $237,569

Median Days on Market: 33

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Closed Sales—January 2017

# Closed: 558

# Short Sale: 1 (<1%)

# Bank Owned: 16 (3%)

Median Sales Price: $239,794

Median Days on Market: 29


2017…

The January 2017 numbers are in and they are showing us some more historical lows and highs. Not sure how much longer the market will have this low inventory but we are down to a little over 1300 homes available in all of Ada County. The median asking price has finally gone over the $300K mark for the first time since I have been tracking it (over 7 years).

The Pending sales were slightly up in January as was the asking price. I do expect this trend to continue as we head into the Spring market.

The number of Closed sales was down by 273 homes from December. However, it is up from the numbers of January 2016. The Sales price was actually down by $5K month over month and more surprisingly, down by $2K year over year.

Are we heading into a bubble? Not that I can see. In order for this market to become a bubble we would need the prices to continue to rise and the inventory to out pace the demand like it did in 2006/2007. We are a long way from being there again!

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

 

 

 

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