Posts Tagged ‘ meridian Idaho real estate statistics ’

Boise Real Estate Market Statistics-November 2018

Ada County November Market Statistics

Available Homes
# Available: 1748
# Vacant: 1306 (75%)
# Short Sale: 1
# Bank Owned: 3
Median Asking Price: $369,900

Pending Sales
# Pending: 1262
Median Asking Price: $358,315

Closed Sales—November 2017
# Closed: 893
# Short Sale: 2
# Bank Owned: 3
Median Sales Price: $269,900
Median Days on Market: 15

Closed Sales—November 2018
# Closed: 852
# Short Sale: 0
# Bank Owned: 0
Median Sales Price: $322,495
Median Days on Market: 14


As the Year 2018 comes to an end, I would like to wish everyone a very Merry Christmas and a happy and healthy New Year!

This was a very interesting year for the Treasure Valley area. We saw rapid growth as Idaho became the number one State to move to. With that designation came a crazy housing market in the spring. Our inventory could not keep up with the demand and this created bidding wars that pushed sales prices way up.

Will this happen come spring of 2019? There is a very real chance we will see another frenzied spring housing market. Inventory is going backwards again and we are hearing (via social media and the news) that the inflow into Idaho is not done.

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

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Boise Real Estate Market Statistics-September 2018

Ada County September Market Statistics

Available Homes
# Available: 1839
# Vacant: 1250 (68%)
# Short Sale: 3
# Bank Owned: 2
Median Asking Price: $379,900

Pending Sales
# Pending: 1413
Median Asking Price: $345,000

Closed Sales—September 2017
# Closed: 1099
# Short Sale: 1
# Bank Owned: 4
Median Sales Price: $272,685
Median Days on Market: 13

Closed Sales—September 2018
# Closed: 913
# Short Sale: 0
# Bank Owned: 2
Median Sales Price: $316,000
Median Days on Market: 9


Full Fall Season

Inventory is up for the 6th month in a row. Our current inventory is only off by 138 from last year at this time. The median asking price is up month over month but the price has been going back and forth since it peaked in April at $396K, where it is now.

We continue to see the number of Pending Sales down for both year over year and month over month. The Pending Sales price has been flat for 3 straight months. The number of Pending Sales peaked in May at 1941.

The number of homes sold in September was down both year over year and month over month. The median sold price was at $316K but it is up by $43K from same time last year.

The next few months will indicate if there is a new trend going on. It appears there is a slight market pullback and this is not just a local trend. Reports are that this is happening throughout the country. Could be rising interest rates, or seasonal, or that we are comparing the current market to this past spring. That was an above average selling market, which is why the year over year numbers are important. We will see…

Brokerage: Silvercreek Realty Group 1099 S Wells St Ste. 200, Meridian, ID 83642

Boise Real Estate Market Statistics-May 2018

Ada County -May Market Statistics

Available Homes
# Available: 1308
# Vacant: 790 (60%)
# Short Sale: 0 (0%)
# Bank Owned: 5 (<1%)
Median Asking Price: $392,450

Pending Sales
# Pending: 1941
Median Asking Price: $339,990

Closed Sales—May 2017
# Closed: 1063
# Short Sale: 2 (<1%)
# Bank Owned: 7 (1%)
Median Sales Price: $261,000
Median Days on Market: 7

Closed Sales—May 2018
# Closed: 1198
# Short Sale: 2 (<1%)
# Bank Owned: 3 (<1%)
Median Sales Price: $305,000
Median Days on Market: 6


May Flowers…

We are finally seeing a decent increase (relatively speaking) in available inventory, up by 104 month over month. And with that increase we see a $4K decrease in the median asking price month over month.

The number of Pending Sales was up by only 7 but up by $11K month over month.
The substantial number is the amount of Closed Sales for May. This was up by 284 homes month over month. This is what we should be seeing for May! The median Closed price was up by $9K month over month and by $44K year over year.

Seeing how the prices just keep going up, you can see that if you bought a home in May of 2017 you would have paid $44K less than if you are purchasing this May. I don’t expect to see that trend change. So if you are wanting to buy now, do it! And of course you know who to contact for that! 😉

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

Boise Real Estate Market Statistics-March 2018

Ada County March Market Statistics

Available Homes
# Available: 1151
# Vacant: 797 (69%)
# Short Sale: 2 (<1%)
# Bank Owned: 3 (<1%)
Median Asking Price: $381,900

Pending Sales
# Pending: 1682
Median Asking Price: $317,727

Closed Sales—March 2017
# Closed: 853
# Short Sale: 4 (<1%)
# Bank Owned: 6 (1%)
Median Sales Price: $251,199
Median Days on Market: 11

Closed Sales—March 2018
# Closed: 877
# Short Sale: 2 (<1%)
# Bank Owned: 5 (1%)
Median Sales Price: $307,990
Median Days on Market: 11


March Madness

Here we are again! Another month of Available Inventory sliding backwards. This is by far the lowest inventory level I have seen in my 13 years as a realtor. Ask any agent or buyer looking for a home and they will tell you how frustrating it is. The new normal is waiting in line outside a home to get a turn to go in and view it. Desired homes go so quickly that most buyers do not even get to view a home before it goes Pending.

Pending Sales continue to climb! Month over Month we are up another 232 homes. This speaks to the decline in available inventory.

One of the things I have been watching is the median Closed Sales Price. It has been trending upward and I expected it to go over the $300K mark in a month or so. It has happened! The median Closed Sales Price is now at $307,990. This is up by $14K from last month and if we look at year over year, it is up by $56K.  Median days on Market are now at 11. We have not even hit the peak Spring market yet. May’s numbers are going to be very interesting for sure!

Bottom line: If you are wanting to sell, do it now! If you price your home correctly it will go quickly. If you are a buyer, buy now because prices are not going down so this might be your last opportunity to buy at the current price. And of course, contact me for all your buying and selling needs!

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

 

Boise Real Estate Market Statistics-December 2017

Ada County December Market Statistics

Available Homes
# Available: 1436
# Vacant: 1101 (77%)
# Short Sale: 6 (<1%)
# Bank Owned: 6 (<1%)
Median Asking Price: $349,416

Pending Sales
# Pending: 1150
Median Asking Price: $314,027

Closed Sales—December 2016
# Closed: 835
# Short Sale: 5 (<1%)
# Bank Owned: 12 (1%)
Median Sales Price: $244,888
Median Days on Market: 24

Closed Sales—December 2017
# Closed: 857
# Short Sale: 2 (<1%)
# Bank Owned: 4 (<1%)
Median Sales Price: $275,716
Median Days on Market: 16

Happy New Year 2018!

Happy New Year! Hoping everyone’s holiday’s were happy and healthy, and that 2018 brings much health and blessings!
Active listings in the Ada County area are at record lows! I feel like I am saying this almost every month but we manage to continue to have shrinking inventory. We are at a point that the National Association of Realtors are calling this an inventory crisis! The next few months will tell us if we start to move out of it or if the shortage continues.
Speaking with other realtors from around the valley, we are all having a very similar problem, and that is no listings! Even though many sellers could easily sell for a profit, most fear not being able to find another home to move to. While this is a tough position to be in, if you are ready to move, putting your home on the market now will maximize how much you get for your home. You may have to become a renter for a little bit but you will find a home you want and you won’t feel rushed into making an offer just so you have a place to live!
If you would like to know how much your home may be worth, send me an e-mail or text and I will get you a Current Market Analysis right


 

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-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

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