Posts Tagged ‘ mortgage rates ’

Boise Real Estate Market Statistics – January 2014

Ada County January 2014  Market Statistics

Available Homes
# Available: 2030
# Vacant: 1312 (65%)
# Short Sale: 156 (8%)
# Bank Owned: 58 (3%)
Median Asking Price: $224,900

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Pending Sales
# Pending: 785
Median Asking Price: $220,000

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Closed Sales—January 2013
# Closed: 381
# Short Sale: 51 (13%)
# Bank Owned: 31 (8%)
Median Sales Price: $184,990
Median Days on Market: 30

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Closed Sales—January 2014
# Closed: 405
# Short Sale: 14 (3%)
# Bank Owned: 34 (8%)
Median Sales Price: $208,200
Median Days on Market: 47

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2014 Starts in a Mixed Way…

The 2014 real estate market has begun! Inventory inched back up and so did the Median Asking Price. We continue to see the distressed inventory dry up but we are also seeing an increase in new build jobs. This will for sure keep the Median Asking Price on the rise.

The number of Pending Sales went up but there was a slight pullback in Median Asking Price. Even with the winter weather hanging around we should continue to see the Pending Sales go up as many buyers try to take advantage of low interest rates.

Closed Sales saw a big pull back from last month but is still up from a year ago. The Median Sold Price was up both month over month and year over year. The Median Days on Market went up but I do expect to see that  start coming back down as we approach March. As home prices rise I also expect to see short sales disappear from the market as sellers finally come out from underwater.

For additional information regarding the Boise Real Estate Market please go to my website: www.BoiseRealEstateChick.com

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All numbers are based on data from the Intermountain Multiple Listing Service.

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

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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

 

 

 

 

 

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

 

Boise Real Estate Market Statistics- May 2013

Below are the Boise Real Estate Market Statistics for May 2013. These numbers are from the Intermountain Multiple Listing Service for Available, Pending and Closed sales, single family/single family with acreage in the Boise, Idaho area.

Ada County May 2013 Market Statistics

Available Homes

# Available: 1880
# Vacant: 918 (49%)
# Short Sale: 229 (12%)
# Bank Owned: 49 (3%)
Median Asking Price: $239,900

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Pending Sales
# Pending: 1458
Median Asking Price: $216,530

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Closed Sales—May 2012
# Closed: 625
# Short Sale: 115 (18%)
# Bank Owned: 71 (11%)
Median Sales Price: $179,688
Median Days on Market: 35

Closed Sales—May 2013
# Closed: 822
# Short Sale: 59 (7%)
# Bank Owned: 40 (5%)
Median Sales Price: $194,995
Median Days on Market: 17

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Spring Market Ends Strong!

As the spring market comes to an end, it did so with strong numbers. The number of homes that sold in May are numbers that we have not seen since 2005/2006. As long as we can avoid the housing bubble of those years we should be alright!

Available inventory barely inched up by 76 homes. Not near enough to help meet buyer demand. The worrisome detail is that due to the lack of inventory many buyers are waiting for the “perfect” home and in the meantime interest rates are on the rise. For some, this could price them out of the market within the next few months.

As expected, the Pending Sales continued to do well. So did the median Pending Sales price! Up another $7500!

The number of Closed Sales are at historical highs. The percent of distressed homes fell by 10 percent month over month (22 percent in April and 12 percent in May). Only 40 homes that sold in May were Bank Owned and currently there are only 49 Bank Owned homes available for sale! We are getting to the point where I may not have to have the number of distressed homes in my statistics anymore! Now wouldn’t that be nice?!?

For more information regarding the Boise Real Estate Market or to contact me, please go to my website: www. BoiseRealEstateChick.com

 

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Boise Real Estate Market Statistics -March 2013

Ada County March 2013 Market Statistics

Available Homes

# Available: 1792
# Vacant: 969 (54%)
# Short Sale: 297 (17%)
# Bank Owned: 76 (4%)
Median Asking Price: $225,750

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Pending Sales
# Pending: 1239
Median Asking Price: $199,900

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Closed Sales – March 2012
# Closed: 549
# Short Sale: 112 (20%)
# Bank Owned: 107 (19%)
Median Sales Price: $152,500
Median Days on Market: 39

Closed Sales– March 2013
# Closed: 568
# Short Sale: 61 (11%)
# Bank Owned: 44 (8%)
Median Sales Price: $186,762
Median Days on Market: 28

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March Came in Like a Lion!

This spring market is showing no signs of slowing down! The inventory in Ada County only increased by 63 homes and the median asking price went up another $6850. The distressed market went down again to just 21 percent, down from last months 23 percent.

Pending sales saw another increase, going from 1005 in February to 1239 in March. Median asking price for pending sales went up as well: $199.9k from February’s $193K. Whenever we see an increase here, we know we will see an increase in closed sales prices for the next month.

More strong closed sales, as March was up year over year and month over month. Distressed sales are down to less than 19 percent of the sold market.  Closed sales prices were up another $4762 and days on market are down to 28. In fact, Ada County currently has less than four months of inventory.

Speaking of inventory, yes, I know I keep saying this but the Ada County area really is in need of some decent inventory. Houses are moving in 28 days or less right now and usually at full asking price. PLEASE, if you know anyone thinking of selling a home, pass my name along to them or send me their info: mary@BoiseRealEstateChick.com or go to my website :  www.BoiseRealEstateChick.com

 

 

 

Boise Real Estate Statistics for February 2013

Below are the Boise Real Estate Statistics for March 2013. The statistics consist of the Boise, Eagle, Meridian, Kuna, and Star area. All numbers are based on information from the Intermountain Multiple Listing Service for single family/single family on acreage that have sold, are pending or are currently available.

Ada County February Market Statistics

Available Homes
# Available: 1729
# Vacant: 961 (56%)
# Short Sale: 334 (19%)
# Bank Owned: 61 (4%)
Median Asking Price: $218,900

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Pending Sales
# Pending: 1005
Median Asking Price: $193,000

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Closed Sales – February 2012
# Closed: 418
# Short Sale: 91 (22%)
# Bank Owned: 106 (25%)
Median Sales Price: $155,995
Median Days on Market: 53

Closed Sales– February 2013
# Closed: 454
# Short Sale: 60 (13%)
# Bank Owned: 47 (10%)
Median Sales Price: $182,000
Median Days on Market: 40

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Market Continues to Improve!

The real estate market continues to stay strong! We saw a slight increase in inventory but we are still at historic lows! Asking price is continuing its steady rise. Up almost $10K from last month. The search for decent inventor y continues to fuel multiple offers and decreased  days on market.

Pending sales increased over the thousand mark again (1005 units pending-Feb./ 878 units pending in Jan.) There was another increase in the median asking price which will translate into yet another increase in the closed median sales price.

We saw a jump in closed sales activity for February. We had 358 closed sales last month and had over 454 this month. The median sales price increased by $26,775 for the Meridian area! The distressed market continues to shrink for sold properties. In February 2012 , 47 percent of the sold market was distressed, now it is at 23 percent.

Are we heading into another bubble? I don’t think so! The lack of inventory is what is fueling the price increases right now. As more sellers recover from the hit they took after the crash, inventory will start to go up. At that point I think we will see a flattening of prices. In the meantime though, if you are a seller not under water and have considered selling, now is the time!

If you would like additional information regarding the current market value of your home or would like to see what the current inventory looks like, please go to my website: www.BoiseRealEstateChick.com or contact me by e-mail: mary@BoiseRealEstateChick.com

 

Boise Real Estate Market Statistics -January 2013

Below are the Boise Real Estate Market statistics for January 2013. These numbers are taken from the Intermountain MLS and reflect active, pending, and sold single family homes/single family homes on acreage. The Ada County area consists of Boise, Meridian, Eagle, Kuna, and Star.

January Market Statistics

Available Homes
# Available: 1668
# Vacant: 956 (57%)
# Short Sale: 358 (21%)
# Bank Owned: 54 (3%)
Median Asking Price: $209,700

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Pending Sales
# Pending: 878
Median Asking Price: $189,900

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Closed Sales – January 2012
# Closed: 402
# Short Sale: 94 (23%)
# Bank Owned: 120 (30%)
Median Sales Price: $138,000
Median Days on Market: 57

Closed Sales – January 2013
# Closed: 358
# Short Sale: 47 (13%)
# Bank Owned: 41 (11%)
Median Sales Price: $182,995
Median Days on Market: 28

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Spring Market?!?

It may feel like winter but the spring market seems to be arriving early! Homes priced correctly are being snatched up in a matter of days as inventory continues to decline. Ada County is down to just 1668 homes available and if we remove the contingent sales, it is down to 1360. Because of the lack of inventory and the buyer demand, the median asking price jumped $10k!

Pending sales increased this month as did the median asking price for Meridian and Eagle. I expect we will see an increase in Closed Sales for February.

Closed Sales for January saw another decrease in the number of units sold. However, the median Closes Sales Price went up, as Days on Market went down. We continue to see a decrease of distressed homes on the market. If we look at January 2012 we see that 53 percent of the homes that sold were distressed, while January 2013 is only 24 percent.

I do believe that if there were more homes available the Pending and Sold numbers would be higher. We are seeing a large number of buyers from California looking to move here over the next few months. Unfortunately there is not much inventory to show them. So, if you or someone you know are thinking about selling, please let me know!

If  you are considering selling your home or know someone who is, please contact me via e-mail: mary@BoiseRealEstateChick.com or go to my website for other contact info.,  www.BoiseRealEstateChick.com

 

 

 

 

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