Posts Tagged ‘ market bottom ’

Canyon County Real Estate Market Statistics- April 2013

Below are the Canyon County Real Estate Market statistics for April 2013. These numbers reflect the single family/single family homes on acreage that are active, pending, or have sold in the Canyon County area during April 2013. Canyon County consists of Caldwell, Nampa, Middleton and the surrounding area. All data is from the Intermountain Multiple Listing Service.

Canyon County April 2013 Market Statistics

Available Homes
# Available: 933
# Vacant: 490 (53%)
# Short Sale: 167 (18%)
# Bank Owned: 39 (4%)
Median Asking Price: $151,990

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Pending Sales
# Pending: 596
Median Asking Price: $125,000

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Closed Sales – April 2012
# Closed: 279
# Short Sale: 78 (28%)
# Bank Owned: 89 (32%)
Median Sales Price: $87,300
Median Days on Market: 42

Closed Sales– April 2013
# Closed: 241
# Short Sale: 38 (16%)
# Bank Owned: 39 (16%)
Median Sales Price: $121,650
Median Days on Market: 2

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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 21 homes! Due to the lack of inventory, the median asking price is up by another $6K.

With the continued strong spring market, Pending Sales continue to rise as well. April was up (596) from March’s 465. Year over year the Median Asking Price is up by $45,100!

We have seen a slight pull back in the number of homes sold this month. With the decrease of distressed homes on the market we saw an increase in the sold price. The number of distressed homes this month on the market is down to 32 percent. This time last year, 60 percent of the homes sold were distressed.

With the decrease in active distressed listings and the overall lack of listings, it is pretty safe to say that Canyon County has finally entered the “normal” market!

If you would like to know what the current market value is on your home please contact me either by e-mail: mary@BoiseRealEstateChick.com or through my website: http://www.BoiseRealEstateChick.com

 

 

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Canyon County Real Estate Statistics -September 2012

Below are the Canyon County real estate statistics for September 2012. Data is from the Intermountain Multiple Listing Service with the numbers reflecting available, pending, and sold, single family/single family with acreage. Canyon County consists of Nampa, Caldwell, Middleton and surrounding areas.

Canyon County September Market Statistics

Available Homes

# Available: 974                    

# Vacant: 493 (51%)

# Short Sale: 273 (28%)

# Bank Owned: 36 (4%)

Median Asking Price: $131,145

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Pending Sales

# Pending: 468

Median Asking Price: $108,400

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Closed Sales – September 2011

# Closed: 260

# Short Sale: 67 (26%)

# Bank Owned: 111 (43%)

Median Sales Price: $79,500

Median Days on Market: 49

Closed Sales– September 2012

# Closed: 260

# Short Sale: 56 (21%)

# Bank Owned: 49 (19%)

Median Sales Price: $104,716

Median Days on Market: 28

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Where is the market heading?

September’s real estate numbers seem to indicate that the market has settled down quite a bit since our crazy spring. We are no longer seeing prices increasing at almost $2K -$3K a week. I feel the leveling off is healthy since the economy locally could not support the rapid increase. I realize for many, the current prices are still lower than when they bought. That is unfortunate but we can not afford to see another bubble so soon after the last one when we are still recovering from it!

An interesting item that I noticed when gathering my statistics for this past month was the List Price to Sales Price (median). List Price is what the seller lists the home for and the sales price is what it actually sells for. For Canyon County LP/SP was 100+ percent (LP-$104,250/ SP-$104,716). In Nampa it was 100+ percent (LP- $108,500/ SP- $108,900)and in Caldwell it was at 101 percent (LP- $100,961/SP-$102,000).

Even though prices are leveling off and will more than likely remain flat for a few months, my gut tells me that we are going to see another surge in activity and prices come spring.

 If you would like to know what your home is possibly worth in this current market, please contact me through my website: www.BoiseRealEstateChick.com

So Where is the Boise Real Estate Market Inventory?

So why isn’t inventory going up in the Boise real estate market?     

I get this question quite a bit! Many people ask me if the market is improving how come the inventory is still low? My thinking is that even with the market improving, many sellers are still underwater or would barely breakeven at the closing table.

For many, we are still at least a year or more away from them being able to sell as they get another year or two to pay down principle and get an increased sales price.

However, if you are looking to take advantage of what are still historically low prices and extremely low-interest rates, now may be a better time to sell. Yes, you could make more money if you wait a year or two, but if the price of your home is going to go up, so is the one that you are looking to buy. And I can almost guarantee that interest rates will not remain at this level for too much longer.

So please, ( yep, here is my sales pitch!) 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! I will be happy to do a Current Market Analysis to let you (or family/friends) know the current market of your/their home! You can e-mail me : mary@BoiseRealEstateChick.com or go to my website: www.BoiseRealEstateChick.com

Boise Real Estate Market Statistics for August 2012

Below are the Boise Real Estate Market Statistics for August 2012. These numbers are based on Available, Pending, and Sold homes in the Ada County area (Boise, Eagle, Meridian, Kuna, and Star) for single family/single family with acreage homes. All data is taken from the Intermountain Multiple Listing Service.

Ada County August Market Statistics

Available Homes

# Available: 2144

# Vacant: 1035 (48%)

# Short Sale: 455 (21%)

# Bank Owned: 54 (3%)

Median Asking Price: $209,900

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Pending Sales

# Pending: 1145

Median Asking Price: $178,500

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Closed Sales – August 2011

# Closed: 630

# Short Sale: 104 (17%)

# Bank Owned: 178 (28%)

Median Sales Price: $152,500

Median Days on Market: 38

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Closed Sales– August 2012

# Closed: 710

# Short Sale: 100 (14%)

# Bank Owned: 52 (7%)

Median Sales Price: $180,000

Median Days on Market: 25

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Here comes Fall!

August seems to have brought the real estate market back to life! I am also currently seeing the same increased activity for September. Fall time is historically the second surge of the year for buying and selling.

With the decrease of distressed properties on the market, we are seeing more homes that are generally in move in condition. This is great for buyers because prices are still relatively low, allowing for some great deals. Cash buyers are still in the driver’s seat though, with many sellers preferring the cash deals even if they are the lower bid. This is because cash deals close quicker and do so without the need of an appraisal.

Pending Sales remain strong, but the Median Asking Price on them has gone down by around $6k. This will probably be reflected in September’s Sold Prices.

Number of Closed Sales saw a big increase from July as did the Median Sold Price. We are also seeing the continued decline of distressed properties being sold, down another 2 percent from last month. However, with the slight pull back in Median Asking Price for Pending Sales, I am thinking we will see the Median Sold Price stay either flat or decrease just a bit for September sales.

If you would like to know what the current value of your home is please contact me : mary@BoiseRealEstateChick.com or to see what homes are available to buy in the Ada County area, please go to my website: www.BoiseRealEstateChick.com

 

 

 

 

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

 

 

Boise Real Estate Market Statistics for May 2012

Below you will find the Boise Real Estate Statistics for ADA County (Boise and the surrounding area) for the month of May 2012. These numbers are from the Multiple Listing Service  for Active, Pending and Sold properties (single family/ single family with acreage). 

Available Homes

# Available: 1987

# Vacant: 934 (47%)

# Short Sale: 518 (26%)

# Bank Owned: 33 (2%)

Median Asking Price: $208,530

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Pending Sales

# Pending: 1265

Median Asking Price: $177,990

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Closed Sales – May 2011

# Closed: 615

# Short Sale: 97 (16%)

# Bank Owned: 230 (37%)

Median Sales Price: $145,000

Median Days on Market: 42

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Closed Sales– May 2012

# Closed: 606

# Short Sale: 111 (18%)

# Bank Owned: 71 (12%)

Median Sales Price: $179,094

Median Days on Market: 36

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Shifting into a Seller’s Market!

 If you had told anyone in April 2011, “just wait a year and we will be in a seller’s market”, they probably would have laughed at you. What a difference a year makes, but that is exactly what has happened!

 In April 2011, the sales price in Boise hit bottom at $135K. Now, here we are in 2012, and the May sales price was $179,094K (median). As a matter of fact the sales price jumped $20K just since last month!

Even though there has been a slight increase in inventory, it is not nearly enough to meet demand. This is reflected in the current median asking price which has jumped almost $10k since last month.

We are also seeing the continuing decline of distressed properties on the market. The percent of distressed homes for sale in May 2011 was 38 percent, now in May 2012 it is 28 percent. Combine this with the low inventory and high demand, we can safely say that we are now in a strong sellers market.

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

Canyon County Real Estate Market Statistics – April 2012

Below are the Canyon County real estate market statistics for April 2012, which consists of Caldwell, Nampa, Middleton, and surrounding areas. These numbers are based on single family/ single family with acreage homes that are active, pending, and or sold. All information is from the Intermountain Multiple Listing Service.

 Available Homes

# Available: 926

# Vacant: 447 (48%)

# Short Sale: 373 (40%)

# Bank Owned: 41 (4%)

Median Asking Price: $117,820

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Pending Sales

# Pending: 481

Median Asking Price: $103,752

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Closed Sales – April 2011

# Closed: 321

# Short Sale: 57 (18%)

# Bank Owned: 184 (57%)

Median Sales Price: $79,500

Median Days on Market: 47

 

Closed Sales– April 2012

# Closed: 271

# Short Sale: 77 (28%)

# Bank Owned: 87 (32%)

Median Sales Price: $87,000

Median Days on Market: 42

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 April Showers do bring May Flowers!

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 a while, inventory went up (by 19 homes) and while this is not a huge number, it is historic because it has not happened in so long!

This months Median Asking Price and Pending Sales Price both went up. The Asking Price was $110K in March and is now at $117,820. The Median Asking Price for Pending Sales was $98,950 and is now $103,752.

Closed Sales Price also went up from last months $83,450K and is now at $87K. With these continued increases, it stands to reason that once again we will see an increase in Sold Prices for May.

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 By the numbers!       

Currently there are 926 homes on the market in Canyon County. Of those, 335 are contingent short sales (this means that they are under contract waiting for the lender to approve the sale). This leave only 591 homes active on the market. This makes it very difficult for buyers to find decent homes.

The bulk of the homes (255) are under $150K. This still does not meet the current demand of first time home buyers. The supply versus demand is pushing prices up and slowly pushing some buyers out of the market.

 Buyers are still able to get some great deals and interest rates are still very low but Sellers are desperately needed! Homes that I have listed recently are going pending within 4 –16 days!

If you know anyone thinking of buying or selling a home, please let me know. I am always grateful for your referrals! You can contact me either through my e-mail: mary@BoiseRealEstateChick.com  or go to my web site: www.BoiseRealEstateChick.com

 

 

 

 

 

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