Posts Tagged ‘ Meridian Idaho ’

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

Advertisements

Boise Real Estate Market Statistics-June 2018

Ada County June Market Statistics

Available Homes
# Available: 1458
# Vacant: 907 (62%)
# Short Sale: 1 (<1%)
# Bank Owned: 5 (<1%)
Median Asking Price: $385,945

Pending Sales
# Pending: 1838
Median Asking Price: $340,783

Closed Sales—June 2017
# Closed: 1245
# Short Sale: 1 (<1%)
# Bank Owned: 6 (<1%)
Median Sales Price: $272,490
Median Days on Market: 8

Closed Sales—June 2018
# Closed: 1230
# Short Sale: 3(<1%)
# Bank Owned: 0 (0%)
Median Sales Price: $322,317
Median Days on Market: 7


Beginning of the summer market!

Inventory was up by another 150 homes! Finally! These are not huge increases but so needed just the same. We are still seeing multiple offers and homes going pending within hours of hitting the market, however, that is only the case in the under $350K price range. Once we get over the $500K mark, the available inventory goes up and days on market are a bit longer.

Pending sales actually saw a pull back, down by 103 month over month and the asking price was flat. The increase in inventory and the decrease in Pending sales is the result of the summer market. This happens every year! Not an anomaly, just typical!

The number of Closed Sales was up by 32 month over month, so not really much to report on there. What is worthy of noting is the year over year price difference. The median price of a home sold in June 2017 was $272,490, in June 2018 that median price is now $322,317. That is a $50K price increase! Anyone who waited until this year to buy are paying that much more!

Brokerage: Silvercreek Realty Group 1099 S Wells St suite 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-May 2016

Ada County May Market Statistics

Available Homes

# Available: 2033

# Vacant: 1187 (58%)

# Short Sale: 29 (1%)

# Bank Owned: 17 (<1%)

Median Asking Price: $290,000

————————–

Pending Sales

# Pending: 1814

Median Asking Price: $267,900

————————–

Closed Sales—May 2015

# Closed: 933

# Short Sale: 11 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $228,000

Median Days on Market: 13

—————————

Closed Sales—May 2016

# Closed: 1062

# Short Sale: 11 (1%)

# Bank Owned: 13 (1%)

Median Sales Price: $240,000

Median Days on Market: 10

————————–

Seller’s Market Continues!

Normally by May we see a fairly significant increase in available homes on the market. Currently we are just over the 2000 mark. This low inventory is continuing to fuel the seller’s market and I don’t see any big changes in that as we head into the summer market.

The number of Pending Sales is up yet again, month over month. The Asking Price for the pending sales is up by $13K month over month as well. I am expecting this trend of increased Pending Sales to continue through out the summer.

Closed Sales were up by another 126 pushing it over the 1000 mark. Distressed Sales now make up less than 2% of the market. This is true for the Available homes as well. The Closed Sales price was flat though from last month but year over year it is up by $12K. Median Days on Market are down to 10 days!

I don’t want to sound like a broken record but I can’t emphasize this enough: if you are thinking of selling, now is the time! There is basically no competition! Yes, you would also have to buy at the peak of the market. However, if you plan on staying in your home for at least the next 5-7 years, it won’t matter! Give me a call if you want to see what you could get for you home in this market! We can discuss your buying options as well!

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 St. , Meridian, ID 83642

 

 

 

 

 

Boise Real Estate Market Statistics-April 2016

Ada County April 2016 Market Statistics

Available Homes

# Available: 1848

# Vacant: 1080 (58%)

# Short Sale: 32 (2%)

# Bank Owned: 16 (1%)

Median Asking Price: $299,900

————————–

Pending Sales

# Pending: 1706

Median Asking Price: $254,900

————————-

Closed Sales—April 2015

# Closed: 831

# Short Sale: 9 (1%)

# Bank Owned: 30 (4%)

Median Sales Price: $217,000

Median Days on Market: 18

————————

Closed Sales—April 2016

# Closed: 936

# Short Sale: 7 (1%)

# Bank Owned: 20 (2%)

Median Sales Price: $239,450

Median Days on Market: 12


Sellers Market!

The real estate market here is showing no signs of pullback just yet. Pricing is now back at the levels it was at during the 2006-2007 time frame. What is different now is the inventory level. It is still very low. In July of 2007, Ada County hit a high of 5198 homes on the market and in 2013 we hit a low of 1664. Currently, we are at 1848, just barely off of that low number.

We are in a very strong sellers market! A balanced market is 4-6 months of inventory supply. Currently we are under 4 months supply for homes that are $500K or less. By this time of the year we should see a significant rise in inventory and we are not. The biggest issue I am finding with potential sellers is not whether they can sell their home quickly, it is the fear that they will not be able to find a home to move to. And that is keeping many sellers from putting their homes up for sale and thus continuing the inventory shortage. It’s sort of a Catch-22!

Recently I have been asked by many potential sellers, should they wait until next year? I do not have a crystal ball! I do know the market is good for sellers right now but next year may prove to be very different. We are in the midst of an election cycle and we know how that can go! So my advice is if you are wanting to sell, do it now!

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 St #200, Meridian, ID 83642

 

 

 

 

 

Boise Real Estate Market Statistics-March 2016

Ada County March Market Statistics

Available Homes

# Available: 1787

# Vacant: 1049 (58%)

# Short Sale: 36 (2%)

# Bank Owned: 14 (1%)

Median Asking Price: $299,900

————————-

Pending Sales

# Pending: 1486

Median Asking Price: $251,564

————————–

Closed Sales—March 2015

# Closed: 718

# Short Sale:18 (3%)

# Bank Owned: 30 (4%)

Median Sales Price: $222,700

Median Days on Market: 23

————————–

Closed Sales—March 2016

# Closed: 810

# Short Sale: 6 (1%)

# Bank Owned: 15 (2%)

Median Sales Price: $235,000

Median Days on Market: 15


March Madness!

Last month I wrote that the Spring market had hit early. Well, last month looks tame relative to what is going on in the market right now! Not sure how long we can sustain this without it turning into a full scale bubble!?!

Even though inventory is up from last month, it is only up by 106 homes. This is not enough to meet the current buyer demand. Sellers are getting a little aggressive with their Asking Price; it is up another $14K.

The number of Pending Sales continues to rise. We are up by another 191 month over month, with last month being a record and this month is even higher. The Median Pending Price was up by $2K.

Closed Sales were up both month over month and year over year. However, the Sales Price was flat. Honestly, I see that as a good thing. I am very worried about the jump in Asking Price so I like to see that the Sold Price is stable. Days on Market are down to 15. So basically it is taking two weeks on market for a home to get an offer. What I am seeing in the April market, it is even shorter. Granted this is for certain price points but homes under $250K are moving anywhere from 2 hours to 2 days with multiple offers!

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 St #200 Meridian ID 83642

 

 

 

Boise Real Estate Market Statistics-February 2016

Ada County February Market Statistics

Available Homes

# Available: 1681

# Vacant: 1042 (62%)

# Short Sale: 42 (2%)

# Bank Owned: 16 (1%)

Median Asking Price: $285,990

————————-

Pending Sales

# Pending: 1295

Median Asking Price: $249,900

————————–

Closed Sales—February 2015

# Closed: 528

# Short Sale:15 (3%)

# Bank Owned: 27 (5%)

Median Sales Price: $218,000

Median Days on Market: 40

————————-

Closed Sales—February 2016

# Closed: 592

# Short Sale: 7 (1%)

# Bank Owned: 5 (1%)

Median Sales Price: $234,950

Median Days on Market 26

————————-

The Real Estate Market is Crazy!

Spring has sprung early for our local real estate market! Due to low inventory, homes are going within days right now and many with multiple offers. I cannot say this enough, if you are thinking of selling or know someone who is, now is the time!

Inventory went up from last month by 14 homes, so basically we are flat month over month. Median asking price went up by $10k and we should expect to see that trend continue over the next few months.

The big story is the jump in Pending Sales! Up by 219 from last month, we are at historic highs with the current number at 1295. This time last year the number of Pending Sales was at 1030, and that was a high for March at that time!

Also at historic highs are the number of Closed Sales, up by 106 month over month and by 64 year over year. Less than 2 percent of the Closed Sales market were distressed. All but gone are the short sales and bank owned properties. The median Days On Market are down to 26. Just for comparison, last year was 40 DOM and in 2011 (bottom of the market) it was 70 DOM. Crazy market indeed!

For more information regarding the Boise Real Estate Market, go to my website: http://www.BoiseRealEstateChick.com

Brokerage: Silvercreek Realty Group 1099 S Wells Ste 200, Meridian Idaho 83642

 

 

 

Advertisements
%d bloggers like this: