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Boise Real Estate Market Statistics-February 2014

Ada County February 2014 Market Statistics

Available Homes
# Available: 2008
# Vacant: 1303 (65%)
# Short Sale: 152 (8%)
# Bank Owned: 68 (3%)
Median Asking Price: $230,495

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Pending Sales
# Pending: 889
Median Asking Price: $220,000

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Closed Sales—February 2013
# Closed: 491
# Short Sale: 67 (14%)
# Bank Owned: 31 (6%)
Median Sales Price: $178,900
Median Days on Market: 39

Closed Sales—February 2014
# Closed: 431
# Short Sale: 23 (5%)
# Bank Owned: 35 (8%)
Median Sales Price: $199,000
Median Days on Market: 47

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Not Quite a Spring Market…Yet

February’s inventory was down from last month and is normally one of the lower months of the year. Other than a slight increase in the asking price, everything else within the Available market is relatively flat. This year’s market feels a little different than last year’s, to me anyway. I am not getting that same sense of urgency to sell or buy. I think the increase in prices has people looking a lot more carefully at what they may be getting for their money.

The number of Pending Sales was up pretty substantially from last month but the Median Asking Price remained flat. This indicates that we will see higher Closed Sales for March and probably a slight uptick in Closed Sales Price.

Closed Sales were down again but this was anticipated due to the lower number of Pending Sales in January. The Median Sold price was down by about $9K giving back all of January’s price increase. The Median Days on Market has started to come down. Homes that are priced correctly and are move-in ready are generally getting offers within the first week or two.

Of special note: Take a look at Eagle’s number of Short Sales and Reo’s that Sold in February. That is right! The number was zero! Making February a completely traditional sales month!

 

 

2014
03/28
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Boise Real Estate Market Statistics-December 2013

Below are the Boise Real Estate Market Stats for December 2013. These numbers reflect Active, Pending, and Sold single family/ single family with acreage homes. All numbers are from the Intermountain Multiple Listing Service.

Ada County December Market Statistics

Available Homes

# Available: 2002

# Vacant: 1286 (64%)

# Short Sale: 161 (8%)

# Bank Owned: 70 (3%)

Median Asking Price: $220,500

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Pending Sales

# Pending: 712

Median Asking Price: $229,900

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Closed Sales—December 2012

# Closed: 477

# Short Sale: 86 (18%)

# Bank Owned: 30 (6%)

Median Sales Price: $179,000

Median Days on Market: 32

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Closed Sales—December 2013

# Closed: 543

# Short Sale: 28 (5%)

# Bank Owned: 35 (6%)

Median Sales Price: $198,000

Median Days on Market: 35

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2013 Year End Numbers are in…

2013 proved to be a very strong market for real estate. Sellers finally saw some daylight as home prices moved upward. Buyers had more options with increased inventory and continued low-interest rates. Will 2014 continue the seller’s market? Will buyers be able to stay in the game or will many have to wait it out?

Our current inventory has had some pull back, going down by 15 percent. This is actually a pretty good indicator of a “normal” market as homeowners of existing homes wait until after the holiday season to list their homes. However, my concern is the number of new build jobs out there. Of all the current available inventory (2002 homes), 739 of them are new build jobs. That is 37%percent of the market! If that trend continues it  could make it difficult for existing home sellers (in the under $400K price range) to compete.

Because interest rates seem to be staying in the 3.75 to 4.75 percent range buyers are still getting good deals on their loans. However, prices are rising and I am expecting a very active spring. Sellers are wanting top dollar and are not making too many (if any) concessions on offers they receive. My advice, if you are thinking of buying do so now and make your first offer your best one.

Thinking of Selling?

If you are considering selling your home, don’t wait until the end of April or May! The time to get your home on the market is in March. This gives you a jump-start on the spring sellers who wait. With less competition your home will sell for more and will sell quicker! If you (or someone you know) is thinking about selling, please contact me and I will do a free Current Market Analysis to show you what your home is worth. My contact info: mary@BoiseRealEstateChick.com or got to my website: www.BoiseRealEstateChick.com

My brokerage is :Silvercreek Realty Group, 1099 S Wells St., Ste #200, Meridian, ID 83642

 

 

 

 

 

2014
01/21
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Boise Real Estate Market – September 2013

Below are the numbers for Active, Pending and Sold properties in the Boise Real Estate Market area for September 2013. These numbers are based on info from the Intermountain Multiple Listing Service for single family/single family with acreage homes.

Ada County (Boise) September Market Statistics

Available Homes
# Available: 2525
# Vacant: 1350 (53%)
# Short Sale: 180 (7%)
# Bank Owned: 74 (3%)
Median Asking Price: $230,000

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Pending Sales
# Pending: 916
Median Asking Price: $221,839

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Closed Sales—September 2012
# Closed: 580
# Short Sale:92 (16%)
# Bank Owned: 36 (6%)
Median Sales Price: $174,850
Median Days on Market: 23

Closed Sales—September 2013
# Closed: 701
# Short Sale: 37 (5%)
# Bank Owned: 24 (3%)
Median Sales Price: $194,000
Median Days on Market: 21

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Fall is Upon Us!

More than leaves are falling in the Ada County real estate market! The seasonal pullback continues and I expect it to remain flat into early 2014. Although we may see a slight increase in activity towards the end of this year which is historically typical. Even with that I don’t anticipate any major jumps in pricing before next spring.

As you can see inventory is continuing to go up as builders try to take advantage of what was a low inventory market. However, the new inventory is starting to out pace demand and could result in shifting us back into a buyers market as existing homes try to compete with the new homes.

With the cooling off of sales, Pending Sales are now under 1000 for the first time in several months. Expect to see that trend into spring time.

The number of Closed Sales are down again month over month but are still above last year.    For the first time since May of this year we are under a $200K sales price. Meanwhile the distressed sales made up less than 8 percent of sold properties. We may see the number of bank owned homes for sale go up a little as the lenders try to unload inventory before the end of the year.

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

 

2013
10/27
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By the Numbers…Boise Real Estate Market July 2013

By the Numbers… Boise – July 2013

Number of homes on the market:
July 2011: 2534
July 2012: 2104
July 2013: 2312

Median Asking Price:
July 2011: $179,900
July 2012: $209,900
July 2013: $233,145

Number of Pending Sales:
July 2011: 938
July 2012: 1194
July 2013: 1342

Median Sold Price:
July 2011: $149,900
July 2012: $171,990
July 2013: $233,145

Number of Distressed Homes Sold:
July 2011: 215
July 2012: 156
July 2013: 103

2013
09/04
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Boise Real Estate Statistics- April 2013

Below are the Boise Real Estate statistics for the month of April 2013. These numbers are pulled from the Intermountain Multiple Listing Service for Active, Pending, and Sold single family homes/single family homes on acreage. The Boise area consists of Boise, Meridian, Eagle, Kuna, and Star, Idaho.

Boise Area- April 2013 Market Statistics

Available Homes
# Available: 1804
# Vacant: 920 (51%)
# Short Sale: 267 (15%)
# Bank Owned: 50 (3%)
Median Asking Price: $237,869

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Pending Sales
# Pending: 1388
Median Asking Price: $209,000

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Closed Sales – April 2012
# Closed: 668
# Short Sale: 141 (21%)
# Bank Owned: 95 (14%)
Median Sales Price: $158,245
Median Days on Market: 39

Closed Sales– April 2013
# Closed: 704
# Short Sale: 86 (12%)
# Bank Owned: 68 (10%)
Median Sales Price: $185,250
Median Days on Market: 20

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Spring Market Staying Strong!

The frantic pace that we saw in April has finally settled down a bit! Normally this time of year we see an increase in homes coming on the market. However, the inventory has only risen by 12 homes! Due to the lack of inventory, the median asking price is up by another $12K.

With the continued strong spring market, Pending Sales continue to rise as well. April was up (1388) from March’s 1239. And yes, another $10k increase in the Median Asking Price. Year over year the Median Asking Price is up by $29K!

Not surprisingly, the number of homes that Closed for April was up for both month over month, and year over year. What was a bit surprising was that the Median Sales Price remained relatively flat. The number of bank owned and short sales homes that closed was up and may be part of the reason that sold prices didn’t rise. If you look at the Median Days on Market, you can see how frantic the market was for April, it was down to 20 days. This means that homes were getting offers on them within 20 days of being on the market. Not sure the last time I have seen the Median DOM so low!

Please contact me if you would like to have an updated Current Market Analysis done for your home in the Boise area. You can either e-mail me: mary@BoiseRealEstateChick.com or go to my website: http://www.BoiseRealEstateChick.com

 

 

 

2013
05/29
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Boise Real Estate Market Statistics for November 2012

Below are the Boise Real Estate Market statistics for November 2012. These numbers are based on the numbers from the Intermountain MLS f0r available, pending and closed sales. Numbers do not include condos or townhomes. Ada County consists of Boise, Meridian, Eagle, Kuna, ans Star.

Ada County November Market Statistics

Available Homes

# Available: 1873

# Vacant: 1029 (55%)

# Short Sale: 409 (22%)

# Bank Owned: 57 (3%)

Median Asking Price: $204,900

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Pending Sales

# Pending: 889

Median Akign Price: $184,900

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 Closed Sales – November 2011

# Closed: 503

# Short Sale: 105 (21%)

# Bank Owned: 133 (26%)

Median Sales Price: $148,000

Median Days on Market: 46

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Closed Sales– November 2012

# Closed: 571

# Short Sale: 87 (15%)

# Bank Owned: 54 (9%)

Median Sales Price: $177,400

Median Days on Market: 30

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 Winter Market is Here!

Well it looks like our winter market is here! The Available inventory has gone down again with the median Asking Price staying about the same as last month (down by $1k). The number of Bank Owned homes on the market is down to only 57 (3 percent of the market). This time last year there were 158 Bank Owned homes available.

 Pending Sales continue to be on the decrease, also consistent with the winter market. However, the median Asking Price went up slightly for Ada County. We will see if this translates into an increase in the median Closed Sales price for December.

 The number of November Closed Sales was down but the median Sales Price was up. Year over year, 2012 has proven to be dramatically better than 2011. We have seen the number of distressed properties go down, the Sales Price go up and even the number of homes sold go up as well.

 All indications are that we will end 2012 very strong and that 2013 looks to be an even better year. Prices are expected to rise by about 4 to 7 percent, and interest rates are supposed to stay around the 3.75 percent mark for at least another 9 months. So, if you are thinking of buying or selling, 2013 may be the year to do so!

 Please go to my website for more information regarding the Boise area market: www.BoiseRealEstateChick.com

 

2012
12/24
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Boise Real Estate Market Statistics – October 2012

Below are the Boise Real Estate Market Statistics for October 2012. These numbers are from the Intermountain Multiple Listing Service for available, pending, and sold, single family home/single family homes on acreage. These stats reflect the ADA County area that consists of Boise, Meridian, Kuna, Eagle, and Star, Idaho.

Ada County – October Market Statistics

Available Homes

# Available: 2019

# Vacant: 1043 (52%)

# Short Sale: 421 (21%)

# Bank Owned: 50 (2%)

Median Asking Price: $204,900

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Pending Sales

# Pending: 987

Median Asking Price: $179,900

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Closed Sales – October 2011

# Closed: 553

# Short Sale: 105 (19%)

# Bank Owned: 127 (23%)

Median Sales Price: $149,900

Median Days on Market: 36

 

Closed Sales– October 2012

# Closed: 641

# Short Sale: 89 (14%)

# Bank Owned: 66 (10%)

Median Sales Price: $176,500

Median Days on Market: 30

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Winter Market Coming Soon!

While the October real estate market did not do too badly, we can see that the winter market is coming in. So what does this mean? For the most part we will continue to see a drop in inventory as sellers remove their homes from the market for the holiday months and into February. Normally when inventory shrinks, prices go up but that is not usually the case in the winter months. Prices generally flatten out, mainly because the bulk of the buyers are not looking actively for a home until March.

However, sellers are at an advantage when selling in the winter because the pickings are few and the buyers are definitely serious. Will the seller get at or above asking price? Probably not above (less buyers means no multiple bids) but more than likely closer to asking. Price it well and it will move quick!

 Buyers have an advantage as well because the homes that are on the market are usually with sellers that really want to sell. There are also less buyers meaning less competition when making offers. Will the buyer get a great bargain? Actually yes, and mainly because the prices are still relatively low as are the interest rates.

So, if you are thinking of buying or selling a home, winter time may be a great time to consider it! For more information regarding the Boise Real Estate market please go to my website: www.BoiseRealEstateChick.com or e-mail me: mary@BosieRealEstateChick.com

 

 

 

2012
11/26
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Boise Real Estate Market Statistics for July 2012

Below are the Boise Real Estate Market Statistics for July 2012. These numbers reflect data from the Multiple Listing Service and are based on single family/ single family with acreage homes int he Ada County area.

Ada County July Market Statistics:

Available Homes

# Available: 2104

# Vacant: 1020 (49%)

# Short Sale: 472 (22%)

# Bank Owned: 47 (2%)

Median Asking Price: $209,900

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Pending Sales

# Pending: 1194

Median Asking Price: $184,950

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Closed Sales – July 2011

# Closed: 604

# Short Sale: 95 (16%)

# Bank Owned: 164 (27%)

Median Sales Price: $149,900

Median Days on Market: 41

 

Closed Sales– July 2012

# Closed: 629

# Short Sale: 100 (16%)

# Bank Owned: 56 (9%)

Median Sales Price: $171,990

Median Days on Market: 24

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Real Estate Market Settling Down!

July proved to be as slow as it usually is this time of year but we are still seeing a record number of pending sales. The thought is that we are leveling off after an absolutely crazy spring. This is good though, because we do not need to have a repeat of the housing market of 2006/2007.

 New inventory has been very slow to come onto the market. We saw a very small increase from June to July, mostly new construction.  The percentage of distressed homes for sale continues to decline, now at just 22 percent of the market. This same time last year, we had 33 percent of the market being distressed.

 Pending Sales remain strong, but are continuing to go down, as is typical for this time of year. Pending Sale prices are up significantly, $179.9K in June, $184.950 for July. 

 We saw a slight decrease in Sales Price for July Sales with the Median Days on Market staying at 24. However, there was a big decrease in the number of distressed properties that sold. In June we saw 183 and now July is at 156, a 3%percent decrease. Eagle, for the first time since I have been tracking for almost two years, had 0 (zero) bank owned properties sold. Not surprising since there are only 7 for sale!

 

 

2012
09/13
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Canyon County Real Estate Market Statistics- June 2012

Below are the Canyon County Real Estate Market Statistics for  June 2012. Canyon County consists of Caldwell, Nampa, Middleton and surrounding areas. All numbers are based on single family/single family homes on acreage that are Available, Pending, or have Closed and are taken from data provided by the Intermountain Multiple Listing Service. 

 

June Market Statistics-2012

Available Homes

# Available: 985

# Vacant: 467 (47%)

# Short Sale: 340 (35%)

# Bank Owned: 51 (5%)

Median Asking Price: $125,000

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Pending Sales

# Pending: 514

Median Asking Price: $109,900

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Closed Sales – June 2011

# Closed: 346

# Short Sale: 76 (22%)

# Bank Owned: 176 (51%)

Median Sales Price: $83,075

Median Days on Market: 41

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Closed Sales– June 2012

# Closed: 254

# Short Sale: 54 (21%)

# Bank Owned: 46 (18%)

Median Sales Price: $102,576

Median Days on Market: 23

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Shifting into a Seller’s Market!

 As we settle into the dog days of summer we see the Real Estate market still going strong. July is typically a little slower due to summer vacations and the heat. While things seem to have slowed down a bit, the June numbers are showing a continuing healthy upward trend.

 Inventory has barely budged and the asking price remains the same. This holds true for all areas of Canyon County. We continue to see a decrease in distressed homes coming onto the market.

 The Pending Sales remain strong and are up a bit from last month. The Asking Price for these are up by $7K. I think we will see another jump in Closed Sales prices for July.

The number of Closed Sales was down slightly for June but the Sales Price is up dramatically. The Median Sales Price for May was $88.5K and for June it was $102,576. Pending Sales seem to be the marker for the next month’s Closed Sales, and if that is the case here, we could see $109K as next months  Closed Sales price!

Due to the low inventory we are seeing incredibly low Median Days on Market. Last month was 38 and is now at 23! It is safe to say that Canyon County has entered the Seller’s Market!

 If you would like additional information regarding the Canyon County Real Estate Market, please go to my web site: www.BoiseRealEstateChick.com or e-mail me: mary@BoiseRealEstateChick.com

 

 

2012
07/16
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Boise Real Estate Market Statistics for April 2012

Below are the Boise real estate market statistics for April 2012. These numbers are taken from the Intermountain MLS based on single family/single family wth acreage, that are currently available, pending or have sold.

Available Homes

# Available: 1908

# Vacant: 902 (47%)

# Short Sale: 549 (29%)

# Bank Owned: 44 (2%)

Median Asking Price: $199,900

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Pending Sales

# Pending: 1151

Median Asking Price: $179,900

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Closed Sales – April 2011

# Closed: 570

# Short Sale: 113 (20%)

# Bank Owned: 207 (36%)

Median Sales Price: $134,000

Median Days on Market: 56

 

Closed Sales– April 2012

# Closed: 649

# Short Sale: 139 (21%)

# Bank Owned: 94 (14%)

Median Sales Price: $158,777

Median Days on Market: 40

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My Market Ramblings:

  • Inventory actually went up this month! (not by much but we need the inventory)
  • Another record month for Pending Sales
  • Median Sales Price is up for Ada and Meridian
  • Year over Year Median Sales Price is way up across the board
  • Number of Closed Properties are way up from last month’s (all areas)
  • Percentage of distressed properties (active) is trending downward
  • Percentage of distressed properties (sold) is way down, year over year and month over month

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For what seemed to be a relatively dry winter, we have had a pretty wet spring, but we all know that the moisture is very much needed here. Despite the wacky weather, the real estate market is remaining hot!

For the first time in over a year and a half, inventory actually went up by 38 homes, and while that is not a big increase, it is historic since it has not happened in so long.

Pending Sales continues its record breaking pace. March was 1102 with a Asking Price of $165,011. April had 1151 with an Asking Price of $179.9K. It is amazing how quickly the prices are trending up.

As I had anticipated from seeing the March Pending prices, the Median Closed Sales Price for April went up. It was $152,750 in March and now $158,777. So, I believe we will see yet another increase in sales price for May.

Need Homes to Sell!

My inventory is continuing to sell as fast as I can get them on! This market is in need of decent homes to sell! So please, if you are considering selling your home or know someone who is, please contact me or send me the contact information of your family or friends! You can contact me by e-mail: mary@BoiseRealEstateChick.com or through my website: www.mary@BoiseRealEstateChick.com

 

 

 

2012
05/14
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