Posts Tagged ‘ mortgage rates ’

Boise Real Estate Market Statistics – December 2012

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

Ada County December Market Statistics 2012

Available Homes

# Available: 1730

# Vacant: 1002 (58%)

# Short Sale: 376 (22%)

# Bank Owned: 59 (3%)

Median Asking Price: $199,900

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Pending Sales

# Pending: 731

Median Asking Price: $189,900

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Closed Sales – December 2011

# Closed: 496

# Short Sale: 117 (24%)

# Bank Owned: 121 (24%)

Median Sales Price: $145,700

Median Days on Market: 49

 

Closed Sales– December 2012

# Closed: 486

# Short Sale: 92 (19%)

# Bank Owned: 31 (6%)

Median Sales Price: $176,731

Median Days on Market: 32

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The New Year is Here!

Happy New Year! Let us hope and pray that this year will be one of the best we have had in recent years. As the saying goes, “success is 99 percent attitude and 1 percent aptitude”. So let us get our positive attitudes going!

 Inventory is at record lows! We are down to 1730 homes in Ada County and if we take out the homes that are contingent short sales, the number of Available homes is around 1400. I have not seen this low of an inventory since I became a Realtor over seven years ago!

The number of Pending Sales is down and is to be expected this time of year. Interesting to note is that the median Asking Price is up by $5k since last month.

Closed Sales for December saw a pullback as well. I think this is due to the combination of low inventory and the typical holiday seasonal slowdown. With the lower Pending Sales number, we will see if January has lower Closed Sales as well.

 Overall, I think 2013 is going to be somewhat similar, sales wise, to 2012. Continuing another year of it being a good time to be a buyer and/or a seller. Prices will inch up around 5 to 6 percent due to low inventory (good for sellers) and the decrease in the number of distressed properties (35 percent of homes for sale in December 2011 were distressed, December 2012 was at 25 percent). Good for buyers, is the fact that interest rates are expected to stay at historic lows this year! 

 If you would like a Current Market Analysis for your home in the Ada County area please contact me either through my website: www.BoiseRealEsateChick.com or via e-mail: mary@BoiseRealEstateChick.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Canyon County Real Estate Market Statistics-November 2012

Canyon County November Market Statistics

Available Homes

# Available: 918

# Vacant: 499 (54%)

# Short Sale: 219 (24%)

# Bank Owned: 38 (4%)

Median Asking Price: $133,490

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Pending Sales

# Pending: 366

Median Asking Price: $103,750

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Closed Sales – November 2011

# Closed: 244

# Short Sale: 55 (23%)

# Bank Owned: 105 (43%)

Median Sales Price: $85,000

Median Days on Market: 41

 

Closed Sales– November 2012

# Closed: 237

# Short Sale: 57 (24%)

# Bank Owned: 48 (20%)

Median Sales Price: $104,675

Median Days on Market: 30

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Winter Market is Here!

Well it looks like our winter market is here! The Available inventory has gone down again with the median Asking Price going up from last month (up by $4k). The number of Bank Owned homes on the market is down to only 38 (4 percent of the market). This time last year there were 75 Bank Owned homes available (8 percent of the market).

Pending Sales continue to be on the decrease, also consistent with the winter market. However, the median Asking Price had a slight pull back in Canyon County. We will see if this translates into a decrease in the median Closed Sales price for December.

The number of November Closed Sales was down as well as the median Sales Price. Year over year though, 2012 has proven to be dramatically better than 2011. We have seen the number of distressed properties go down, the Sales Price go up and even the number of homes sold go up as well.

All indications are that we will end 2012 very strong and that 2013 looks to be an even better year. Prices are expected to rise by about 4 to 7 percent, and interest rates are supposed to stay around the 3.75 percent mark for at least another 9 months. So, if you are thinking of buying or selling, 2013 may be the year to do so!

If you would like more information regarding the Canyon County area, please go to my website: www.BoiseRealEstateChick.com or e-mail me: mary@BoiseRealEstateChick.com

 

 

 

Boise Real Estate Market Statistics for November 2012

Below are the Boise Real Estate Market statistics for November 2012. These numbers are based on the numbers from the Intermountain MLS f0r available, pending and closed sales. Numbers do not include condos or townhomes. Ada County consists of Boise, Meridian, Eagle, Kuna, ans Star.

Ada County November Market Statistics

Available Homes

# Available: 1873

# Vacant: 1029 (55%)

# Short Sale: 409 (22%)

# Bank Owned: 57 (3%)

Median Asking Price: $204,900

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Pending Sales

# Pending: 889

Median Akign Price: $184,900

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 Closed SalesNovember 2011

# Closed: 503

# Short Sale: 105 (21%)

# Bank Owned: 133 (26%)

Median Sales Price: $148,000

Median Days on Market: 46

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Closed Sales– November 2012

# Closed: 571

# Short Sale: 87 (15%)

# Bank Owned: 54 (9%)

Median Sales Price: $177,400

Median Days on Market: 30

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 Winter Market is Here!

Well it looks like our winter market is here! The Available inventory has gone down again with the median Asking Price staying about the same as last month (down by $1k). The number of Bank Owned homes on the market is down to only 57 (3 percent of the market). This time last year there were 158 Bank Owned homes available.

 Pending Sales continue to be on the decrease, also consistent with the winter market. However, the median Asking Price went up slightly for Ada County. We will see if this translates into an increase in the median Closed Sales price for December.

 The number of November Closed Sales was down but the median Sales Price was up. Year over year, 2012 has proven to be dramatically better than 2011. We have seen the number of distressed properties go down, the Sales Price go up and even the number of homes sold go up as well.

 All indications are that we will end 2012 very strong and that 2013 looks to be an even better year. Prices are expected to rise by about 4 to 7 percent, and interest rates are supposed to stay around the 3.75 percent mark for at least another 9 months. So, if you are thinking of buying or selling, 2013 may be the year to do so!

 Please go to my website for more information regarding the Boise area market: www.BoiseRealEstateChick.com

 

Canyon County Real Estate Market Statistics for October 2012

Below are the Real Estate Market Statistics for October 2012. These numbers are from the Intermountain Multiple Listing Service for single family and single family on acreage. Canyon County consists of Caldwell, Nampa, Middleton and surrounding areas.

Canyon County October Market Statistics

Available Homes

# Available: 994

# Vacant: 511 (51%)

# Short Sale: 241 (24%)

# Bank Owned: 40 (4%)

Median Asking Price: $129,900

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Pending Sales

# Pending: 418

Median Asking Price: $109,000

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Closed Sales – October 2011

# Closed: 285

# Short Sale: 77 (27%)

# Bank Owned: 137 (48%)

Median Sales Price: $82,000

Median Days on Market: 41

Closed Sales– October 2012

# Closed: 285

# Short Sale: 67 (23%)

# Bank Owned: 49 (17%)

Median Sales Price: $107,000

Median Days on Market: 35

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Winter Market Coming Soon!

While the October real estate market did not do too badly, we can see that the winter market is coming in. So what does this mean? For the most part we will continue to see a drop in inventory as sellers remove their homes from the market for the holiday months and into February. Normally when inventory shrinks, prices go up but that is not usually the case in the winter months. Prices generally flatten out, mainly because the bulk of the buyers are not looking actively for a home until March.

However, sellers are at an advantage when selling in the winter because the pickings are few and the buyers are definitely serious. Will the seller get at or above asking price? Probably not above (less buyers means no multiple bids) but more than likely closer to asking. Price it well and it will move quick! Buyers have an advantage as well because the homes that are on the market are usually with sellers that really want to sell. There are also less buyers meaning less competition when making offers. Will the buyer get a great bargain? Actually yes, and mainly because the prices are still relatively low as are the interest rates.

 So, if you are thinking of buying or selling a home, winter time may be a great time to consider it! Go to my website: www.BoiseRealEstateChick.com

or you can send me an e-mail: mary@BoiseRealEstateChick.com if you have any questions or would like to know the value of your home or how much of a home you can afford.

Boise Real Estate Market Statistics – October 2012

Below are the Boise Real Estate Market Statistics for October 2012. These numbers are from the Intermountain Multiple Listing Service for available, pending, and sold, single family home/single family homes on acreage. These stats reflect the ADA County area that consists of Boise, Meridian, Kuna, Eagle, and Star, Idaho.

Ada County – October Market Statistics

Available Homes

# Available: 2019

# Vacant: 1043 (52%)

# Short Sale: 421 (21%)

# Bank Owned: 50 (2%)

Median Asking Price: $204,900

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Pending Sales

# Pending: 987

Median Asking Price: $179,900

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Closed Sales – October 2011

# Closed: 553

# Short Sale: 105 (19%)

# Bank Owned: 127 (23%)

Median Sales Price: $149,900

Median Days on Market: 36

 

Closed Sales– October 2012

# Closed: 641

# Short Sale: 89 (14%)

# Bank Owned: 66 (10%)

Median Sales Price: $176,500

Median Days on Market: 30

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Winter Market Coming Soon!

While the October real estate market did not do too badly, we can see that the winter market is coming in. So what does this mean? For the most part we will continue to see a drop in inventory as sellers remove their homes from the market for the holiday months and into February. Normally when inventory shrinks, prices go up but that is not usually the case in the winter months. Prices generally flatten out, mainly because the bulk of the buyers are not looking actively for a home until March.

However, sellers are at an advantage when selling in the winter because the pickings are few and the buyers are definitely serious. Will the seller get at or above asking price? Probably not above (less buyers means no multiple bids) but more than likely closer to asking. Price it well and it will move quick!

 Buyers have an advantage as well because the homes that are on the market are usually with sellers that really want to sell. There are also less buyers meaning less competition when making offers. Will the buyer get a great bargain? Actually yes, and mainly because the prices are still relatively low as are the interest rates.

So, if you are thinking of buying or selling a home, winter time may be a great time to consider it! For more information regarding the Boise Real Estate market please go to my website: www.BoiseRealEstateChick.com or e-mail me: mary@BosieRealEstateChick.com

 

 

 

Canyon County Real Estate Market Statistics – August 2012

Below are the real estate market statistics for Canyon County – August 2012. These numbers reflect the data taken from the Intermountain Multiple Listing and are based on single family/single family with acreage. Canyon County consists of Nampa, Caldwell, Middleton, and surrounding area.

Canyon County August Market Statistics

Available Homes

# Available: 989                    

# Vacant: 495 (50%)

# Short Sale: 303 (31%)

# Bank Owned: 39 (4%)

Median Asking Price: $129,240

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Pending Sales

# Pending: 490

Median Asking Price: $109,900

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Closed Sales – August 2011

# Closed: 291

# Short Sale: 64 (22%)

# Bank Owned: 133 (46%)

Median Sales Price: $78,500

Median Days on Market: 37

 

Closed Sales– August 2012

# Closed: 292

# Short Sale: 79 (27%)

# Bank Owned: 51 (17%)

Median Sales Price: $105,960

Median Days on Market: 29

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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.

Have you wondered why we are seeing an increase in the number of vacant homes on the market even though the number of distressed properties is decreasing? Looking at the data, I have concluded that the increase is coming from a certain builder, (no names mentioned but you know who he is!) who has increased the number of homes he is building. This is both good and bad. Good because building new homes employs more people, gives more choices for home selection but bad because this particular builder is able to sell below market price, hurting existing home prices. Hopefully during this building boom, he will not over build!

If you would like to see how much home you can afford please go to my website and use the mortgage calculator, 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

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