Posts Tagged ‘ Boise ’

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

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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-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- 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 -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

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

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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

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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!

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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

 

 

 

Nampa Idaho Real Estate Statistics for March 2011

The other day we looked at Caldwell real estate stats, now we will look at the other large area of Canyon County- Nampa. This particular area is similar to Caldwell in that it has a mix of old and new homes, as well as homes on acreage. Nampa is located next to Meridian and about 30 minutes west(outside of rush hour) from Boise. The statistics are for single family/single family with acreage.

Available Homes

# Available: 746

#Vacant: 390

# Short Sale: 310

# Bank Owned: 106

Median Asking Price: $104,900

56% of the homes for sale are distressed with the largest percentage being short sales.  The good news is that the short sales are not necessarily what brings the prices down but the bank owned properties. Hopefully many of these short sales will close before they become foreclosed on. That is when the banks usually get them back (not too many who show up at the auctions are wanting to pay what is owed on the property to clear the debt, so the property defaults back to the lender). The bank then prices the properties well below market which is what has been dragging the prices down.

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Pending Sales

# Pending: 200

Median Asking Price: $84,450

There is a big difference in the current active list prices versus the pending list price so it will be interesting to see if April pending sales prices inch up a bit.

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Closed Sales 2010

# Closed: 148

# Short Sales: 22

# Bank Owned: 87

Median Sales Price: $97,900

Median Days on Market: 46

Closed Sales 2011

# Closed: 182

# Short Sales: 36

# Bank Owned: 104

Median Sales Price: $80,000

Median Days on Market: 55

We can see that the median sales price has dropped over $17k compared to last March but 34 more houses sold in March 2011. But the price drop should come as no surprise since 77% of the homes that sold in March were distressed with the bulk being bank owned properties.  This is a huge percentage and the Nampa real estate market can not begin to correct itself until this percentage drops to less than 20%.  This could still be another  two years out!

If you would like more information regarding the Nampa real estate market or are thinking of buying (very good time to do so) or selling, please go to my website for more information (no sign up required): www.BoiseRealEstateChick.com

ADA County Real Estate Market Statistics-March 2011

Below are the statistics for the ADA County real estate market for March 2011. These numbers represent single family/single family with acreage in the Boise, Meridian, Kuna, Eagle and Star area for homes that are available, pending or sold. My comments are below each section.

Available Homes

# Available: 2614

#Vacant: 1347 (51%)

# Short Sale: 779

#Bank Owned: 231

Median Asking Price: $169,000

Slight dip in the inventory (February 2661) but we did see a drop in the number of vacant homes (February 1451). The asking  median price went up by $4K (February $165K)

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Pending Sales

# Pending:809

Median Asking Price: $149K

Median Days on Market: 43

Pending sales are up quite a bit from February’s 692. I think we will see another increase in sold properties for April. Unfortunately the median asking price went down by $1K. Not a big drop but it would be nice to see an increase instead.

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Closed Sales

# Closed Sales: 537

# Short Sale: 106

#Bank Owned: 208

Median Sales Price: $135,000

Median Days on Market: 61

Good news is that the number of closed sales went up very nicely from February’s 393 and the median days on market dropped by 9 days from 70. The bad news is that because of the increase in distressed properties that were closed (314) we saw a $10K decrease in the sales price. Unfortunately in order for the market to heal we have to see those distressed properties move off the market.

I am not sure how much more of a slide the median sold price is going to see since we are now starting to see an increase in cash buyers, multiple offers, offers for at or above asking price.  Overall, the sales activity has gone up and the inventory is coming down, so we will continue to watch how this plays out over the next few months.

If you would like additional information regarding the Boise real estate market, please visit my website (no sign in required): www.BoiseRealEstateChick.com

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