Posts Tagged ‘ real estate in Boise ’

Boise Real Estate Market Statistics-February 2014

Ada County February 2014 Market Statistics

Available Homes
# Available: 2008
# Vacant: 1303 (65%)
# Short Sale: 152 (8%)
# Bank Owned: 68 (3%)
Median Asking Price: $230,495

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Pending Sales
# Pending: 889
Median Asking Price: $220,000

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Closed Sales—February 2013
# Closed: 491
# Short Sale: 67 (14%)
# Bank Owned: 31 (6%)
Median Sales Price: $178,900
Median Days on Market: 39

Closed Sales—February 2014
# Closed: 431
# Short Sale: 23 (5%)
# Bank Owned: 35 (8%)
Median Sales Price: $199,000
Median Days on Market: 47

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Not Quite a Spring Market…Yet

February’s inventory was down from last month and is normally one of the lower months of the year. Other than a slight increase in the asking price, everything else within the Available market is relatively flat. This year’s market feels a little different than last year’s, to me anyway. I am not getting that same sense of urgency to sell or buy. I think the increase in prices has people looking a lot more carefully at what they may be getting for their money.

The number of Pending Sales was up pretty substantially from last month but the Median Asking Price remained flat. This indicates that we will see higher Closed Sales for March and probably a slight uptick in Closed Sales Price.

Closed Sales were down again but this was anticipated due to the lower number of Pending Sales in January. The Median Sold price was down by about $9K giving back all of January’s price increase. The Median Days on Market has started to come down. Homes that are priced correctly and are move-in ready are generally getting offers within the first week or two.

Of special note: Take a look at Eagle’s number of Short Sales and Reo’s that Sold in February. That is right! The number was zero! Making February a completely traditional sales month!

 

 

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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

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 Statistics -October 2013

Boise Area – October 2013
Available Homes
# Available: 2541
# Vacant: 1426 (56%)
# Short Sale: 195 (8%)
# Bank Owned: 68 (3%)
Median Asking Price: $225,000

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Pending Sales
# Pending: 896
Median Asking Price: $219,900

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Closed Sales—October 2012
# Closed: 652
# Short Sale: 90 (14%)
# Bank Owned: 66 (10%)
Median Sales Price: $175,000
Median Days on Market: 30

Closed Sales—October 2013
# Closed: 621
# Short Sale: 31 (5%)
# Bank Owned: 23 (4%)
Median Sales Price: $214,900
Median Days on Market: 26

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Inventory rose a bit again as did vacancies. All due to new home construction! The asking price came down another $5k from last month. I am expecting inventory to level off for the next few months as the holidays and weather slow the market down a little.

The number of Pending Sales continues its downward trend as is typical for this time of year. Pending asking price is down a bit as well. This will probably translate into lower closed sales prices for November closings.

The number of Closed Sales are down not only month over month but year over year. Median sales prices went up though, due to a decrease of homes sold in the under $100k price range and an increase in the over $400k range. I don’t expect that trend to continue!

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Is it time to refinance?

If your mortgage interest rate is higher than 4 percent, you may want to consider refinancing. A fifteen year mortgage is currently going for around 2.75 percent. You may pay more per month but over the life of the loan you will save yourself tens of thousands of dollars. Even if you do not stay in your home another 15 years, you will still pay down the loan faster giving you more equity when you do sell. Contact me for more info by going through my website: www.BoiseRealEstateChick.com or my e-mail: mary@BoiseRealEstateChick.com

 

 

 

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

 

By the Numbers…Boise Real Estate Market July 2013

By the Numbers… Boise – July 2013

Number of homes on the market:
July 2011: 2534
July 2012: 2104
July 2013: 2312

Median Asking Price:
July 2011: $179,900
July 2012: $209,900
July 2013: $233,145

Number of Pending Sales:
July 2011: 938
July 2012: 1194
July 2013: 1342

Median Sold Price:
July 2011: $149,900
July 2012: $171,990
July 2013: $233,145

Number of Distressed Homes Sold:
July 2011: 215
July 2012: 156
July 2013: 103

Boise Real Estate Market Statistics – July 2013

Below are the Boise Real Estate Market Statistics for July 2013. These numbers are based on information from the Intermountain Multiple Listing Service for single family/single family with acreage homes that are Available, Pending, or have Sold.

Ada County July Market Statistics

Available Homes
# Available: 2312
# Vacant: 1140 (49%)
# Short Sale: 216 (9%)
# Bank Owned: 63 (3%)
Median Asking Price: $233,145

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Pending Sales
# Pending: 1239
Median Asking Price: $212,500

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Closed Sales—July 2012
# Closed: 647
# Short Sale: 102 (16%)
# Bank Owned: 56 (9%)
Median Sales Price: $172,000
Median Days on Market: 23

Closed Sales—July 2013
# Closed: 892
# Short Sale: 57 (6%)
# Bank Owned: 46 (5%)
Median Sales Price: $206,487
Median Days on Market: 20

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Dog Days of Summer

Things have settled down a bit in Ada County! Keep in mind I am speaking relative to our crazy spring. All numbers indicate we are still going very strong but as is typical this time of year, the market flattens out a bit.

Available inventory had another increase by about 300 properties over last month and an increase of over 500 properties since May. We saw another slight pull back in the asking price. Over the past few months it looks as if the median asking price is settling in the $230K range.

The number of Pending Sales pulled back, down another 100 since last month. The median asking price was down as well by $4k.

Oddly the number of Closed Sales was up! Especially considering that we have seen historic highs the past few months and these are July numbers. However, the Median Sales Price is down by about $4k reflecting the pullback in pricing for Available and Pending listings. I think the market will continue to stay relatively strong but I do think as we head into fall, the prices will not be moving much in either direction.

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

 

 

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