Posts Tagged ‘ family ’

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

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Owning vs. Renting

I recently came across an article in the recent National Association of Realtors magazine that I found interesting. In the article they discuss the merits of home ownership vs renting.  But what I found most interesting was the overall benefits not just to the homeowner but to the community as well.

The article mentions a survey that shows that 56% of homeowners vs. 36% of renters were extremely satisfied with the quality of  life in their community. And that 51% of homeowners vs. 37% were extremely satisfied with the family oriented environment. Now this seems to make sense since the majority of renters are generally single or newly married so community involvement and a family environment  is not very important. It goes on to state that 82% of homeowners vs. 73% of renters read or listen to local news and the 78% of homeowners vs 58% of renters voted in local elections.  

What can we read into these numbers? Well, aside from the financial benefits of ownership, there is a sense of belonging. Owners have a personal stake in their community to ensure its safety and long-term stability for themselves and their families. Renters will not have that long-term committment to their community because generally a renter will stay renting for a few years and move to another complex or home.

Their article also showed a financial disparity between renters and homeowners. In 2007 the median net worth of those renting was $5100 compared with $234,200 for homeowners. Pre- real estate boom in 1998 was $5400 for renters and $168,200 for homeowners, so you can see that the gap has been pretty big between the two regardless of the market.

So renters, if you are looking for the financial benefits of  homeownership and a sense of community, homeownership is great investment in your future.  It is still a great time to buy, and trying not to sound like a stereotypical salesperson, time is ticking!

Article referenced-Home Ownership and the American Dream by Brian Sumerfield, NAR, Feb 2011

If you have any questions or need any real estate assistance in the Boise, Idaho area, please contact me: mary@heritagewifi.com or www.BoiseRealEstateChick.com

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