Posts Tagged ‘ real estate ’

Boise Real Estate Market Statistics -May 2011

The numbers below reflect homes that are active, pending, or sold in the Boise area for the month of May 2011. They are based on single family/single family with acreage and all numbers are from the Intermountain Multiple Listing Service. My commentary will follow each grouping.

Available: May 2011

# Available: 2616

#Vacant: 1295

# Short Sale: 774

# Bank Owned: 181

Median Asking Price: $178,250

Inventory continues (since January 2011) to remain flat but the number of distressed properties have gone down from 988 to 955. Median Asking Price continues to rise slowly but steadily.

—————————————————

Pending

# Pending: 978

Median Asking Price: $159,900

Here again we see an increase in Pending Sales up from last months 903 with an increase in Asking Price, also up from last months $154K. This trend looks good for June closings and I expect to see another up month!

—————————————————-

Closed Sales – May 2011

# Closed: 601

# Short Sales: 94

# Bank Owned: 229

Median Sold Price: $143,000

Median Days on Market: 42

All numbers are up across the board with the exception of the Days on Market, that actually went down from April’s 58. Sales Prices are up from last month’s $135K which is actually pretty good considering that the number of distressed properties that sold went up from 316.

—————————————————–

Many of you may have seen the local newspaper here do three days of negative housing market stories. The problem is that the stories reflect either national averages, which are meaningless locally, and they compare 2010 numbers to today. The numbers that I look to see if the market is heading in the right direction are the month to month numbers. These are the numbers that we need to pay attention to in order to determine market bottom. What I am seeing indicates that we have been out of bottom for a few months. Does this mean that prices will only rise? No, because we still have a lot of distressed inventory to clear but when you take that large distressed inventory into account the past few months are pretty impressive! Even still, there will be months when the sold prices may be flat from the previous month or even dip by 5%. I am still confident that the market is mending, slowly but surely.

If you would like to see what homes are going for, please go to my website (no sign in required) :  www.BoiseRealEstateChick.com Feel free to contact me through my web site if you are interested in buying or selling a home!

 

 

 

Current Boise Real Estate Market-May 20, 2011

With a little over a week or more left for the month of May, I thought I would see how the current Boise Real Estate Market was looking compared to April 2011. So far so good!

Available:

May (20th)- 2631

April: -2610

Not much of an increase in inventory, which is kind of odd for this time of year.

——————————-

Median List Price has gone up also:

May (20th): $175,000

April: $170,947

List Price is kind of meaningless but what is interesting is that the LP went up in the same increment as the Sold Price and Pending.

Sold  Median Sales Price:

May (20th): $140K

April: $135K

—————————————–

Pendings are up very nicely also:

May (20th): 979

April: 903

 Many of the May pendings will turn into closed but I expect another strong month of closed properties.  The other interesting item is the median LP is once again $5K higher.

Median LP for Pendings:

May (20th): $159.9K

April: $154K

—————————————-

Another item to watch is the Days on Market. This has continued to drop over the last few months for sold properties. It was 58 days (median) in April and is now 47.  This is yet another solid indicator that the current market is changing.

I will check back in another two weeks to see if the numbers will continue their upward trend. In the meantime, if you would like additional information on the current Boise real estate market go to my website (no sign in required): www.BoiseRealEstateChick.com

Real Estate Statistics for Canyon County-April 2011

Here are the real estate statistics for Canyon County in Idaho – April 2011. These numbers are based on single family and single family with acreage.

Available Homes

# Available: 1309

# Vacant: 656 (50%)

# Short Sale: 531

# Bank Owned: 161

Median Asking Price: $109,000

————————————————————-

Pending Sales

# Pending: 470

Median Asking Price: $79,000

————————————————————-

Closed Sales

# Closed: 305

# Short Sale: 53

# Bank Owned: 177

Median Sales Price: $79,900

Median Days on Market: 47

————————————————————

Good news for Canyon County on several fronts: Inventory is down, closed prices have remained flat and median days on the market are way down. Bad news is that the number of distressed is still way too high. 75% of the homes that closed in April were distressed properties and more than 50% of the homes that are available are distressed. This will continue to keep prices low for quite a while. But as long as inventory remains low and demand stays up we could see a tick up (very slight) in the median sold prices even amongst the distressed sales.

If you would like additional information regarding the Canyon County real estate market, please go to my website (no sign in required): www.BoiseRealEstateChick.com You can also contact me through my website.

Real Estate Statistics for Eagle Idaho-April 2011

Below are the real estate statistics for the Eagle, Idaho area for April 2011. The numbers reflect available, pending and sold properties, single family/single family with acreage.

Available Homes

# Available: 254

#Vacant: 105 (41%)

#Short Sale: 58

# Bank Owned: 13

Median Asking Price: $379,500

————————————————

Pending Sales

# Pending: 82

Median Asking Price: $317,250

————————————————-

Closed Sales- April 2011

# Closed: 38

# Short Sales: 11

# Bank Owned: 11

Median Sales Price: $240,000

Median Days on Market: 56

————————————————

Inventory continues to remain flat in Eagle and this also true for all of Ada County. Pending sales are up from March’s 41 which will hopefully translate in to more homes closed in May. The median sales continues to take a hit, down from March’s $275K. Distressed sales are still the driving force behind the lower prices with 22 of the 38 closed sales in April being distressed. Good news is that properties are moving much quicker with the median Days on Market down from March’s 90.

If you would like additional information regarding the Real Estate Market in the Eagle Idaho area, please go to my website (no sign in required): www.BoiseRealEstateChick.com

Boise Real Estate Market Statistics-April 2011

The numbers are in for the Boise Real Estate Market Statistics for April 2011 and they are continuing to look very positive. We are still seeing very low inventory, homes receiving multiple offers usually within the first three days of being listed and the offers are usually much higher than the list price. I have said this quite a bit over the past few months but I will say it again: Buyers if you are thinking about purchasing a home, now is the time!

The numbers below will reflect homes that are active, pending or sold, single family/ single family on acreage for April of 2011.

Available Homes

# Available:2610

# Vacant: 1307

# Short Sales: 781

# Bank Owned:207

Median Asking Price: $170,947

—————————————————

Pending Sales

# Pending: 903

Median Asking Price: $154K

————————————————–

Closed Sales 2011

Closed: 553

# Short Sales:112

# Bank Owned: 204

Median Price: $135K

Median Days On Market: 58

The number of pending sales are phenomenal with 903. I think we are going to be looking at some very strong May Closed Sales numbers and possible increase in Median Sales Price. The Boise Real Estate Market feels very hot right now, so buyers and sellers take note! If you would like additional information regarding the Boise Real Estate Market please got to my web site: www.BosieRealEstateChick.com

Current Boise Real Estate Market -April 17, 2011

I usually wait until the end of the month to do my statistic information for the Boise real estate market but today I decided to check things out.  What I am seeing makes me think that buyers who have been waiting for the spring to go look, may want to move this up on their schedule.  

I noticed that in the past few weeks just about every home that I have shown has gone pending within a few hours to a few days of the showing. Now keep in mind that I am showing homes in the most sought after price range of $150K and under. Not only are these homes going quickly but they are receiving multiple offers on them. To me, there feels like a sense of urgency has begun to develop in the market. (I can not say if this same urgency is happening in the price range of $150K and up )

Looking at the current inventory numbers for April 17, 2011, there are 2612 homes available (single/single family with acreage). This is almost identical to March’s numbers but what is very interesting to me is that the number of vacant homes is down from 1347 in March to 1319, and there are less distressed properties on the market as well (there are 18 less which may not seem like much but every month that seems to go up, so to see it down even slightly is good news). The other interesting item to watch is that this is the month when inventory begins to climb (the spring season) and I am just not seeing that.

Right now there are 904 pending sales in ADA County which is a huge number. (there were a total of 809 pending by March 31). So far this month, 235 properties have closed so I believe that we are well on our way to matching or exceeding  March’s closed sales.

So, once again I would urge any buyers who may be thinking about purchasing a home to move it along a little quicker. I would also urge any sellers who are waiting for better weather, to consider putting your home on the market now. Inventory is moving and the competition is not that great so your odds of selling quickly and closer to your (reasonable) asking price is much better. 

If you would like more information regarding the buying or selling market in the Boise area please go to my website (no sign up required) and contact me there: www.BoiseRealEstateChick.com

Canyon County Real Estate Statistics-March 2011

Today we will look at the Canyon County real estate statistics for March 2011. Canyon County consists of Nampa, Caldwell, Middleton and some of the outer areas around them. Canyon County has been one of the harder hit real estate areas in Idaho. During the height of the market investors swooped in and moved prices up, now more than 54% of the active listings are distressed with 541 of them being short sale listings.

Available Homes 

# Available: 1362

# Vacant: 710

# Short Sale:541

# Bank Owned: 196

Median Asking Price: $104,900

As stated above, 54% are distressed listings with the bulk ot those being short sales. Would be nice to see the sold prices come close to the current asking price of $104.9K.

———————————————————————————————-

Pending Sales

# Pending: 382

Median Asking Price: $84,900

The median pending price for March 2011 does not bode well for the closed sales coming up in April since it is barely above the median sold price of $80K for March.

——————————————————————————————-

Closed Sales-March 2010

# Sold: 286

# Short Sale: 44

# Bank OWned: 157

Median Sales Price: $97,000

Median Days on Market: 49

Closed Sales -March 2011

# Sold: 294

# Short Sale: 54

# Bank Owned: 159

Median Sales Price: $80,000

Median Days on Market: 56

We can see how much of a toll the bank owned properties have had on the market in the past year. The median sales price is down by $17K, year over year. But an interesting statistic that I found when I was formulating these numbers was that the list price to sales price percentage was 100%. That means that almost all the homes that sold in March of 2011 were at their asking price. So that could indicate that this is the very bottom for Canyon County. April’s numbers will show us if that is truly the case.

If you would like additional  information regarding the Canyon County Real Estate Market, please go to my website (no sign up required): www.BoiseRealEstateChick.com

ADA County Real Estate Market Statistics-March 2011

Below are the statistics for the ADA County real estate market for March 2011. These numbers represent single family/single family with acreage in the Boise, Meridian, Kuna, Eagle and Star area for homes that are available, pending or sold. My comments are below each section.

Available Homes

# Available: 2614

#Vacant: 1347 (51%)

# Short Sale: 779

#Bank Owned: 231

Median Asking Price: $169,000

Slight dip in the inventory (February 2661) but we did see a drop in the number of vacant homes (February 1451). The asking  median price went up by $4K (February $165K)

————————————————————————————————-

Pending Sales

# Pending:809

Median Asking Price: $149K

Median Days on Market: 43

Pending sales are up quite a bit from February’s 692. I think we will see another increase in sold properties for April. Unfortunately the median asking price went down by $1K. Not a big drop but it would be nice to see an increase instead.

————————————————————————————————

Closed Sales

# Closed Sales: 537

# Short Sale: 106

#Bank Owned: 208

Median Sales Price: $135,000

Median Days on Market: 61

Good news is that the number of closed sales went up very nicely from February’s 393 and the median days on market dropped by 9 days from 70. The bad news is that because of the increase in distressed properties that were closed (314) we saw a $10K decrease in the sales price. Unfortunately in order for the market to heal we have to see those distressed properties move off the market.

I am not sure how much more of a slide the median sold price is going to see since we are now starting to see an increase in cash buyers, multiple offers, offers for at or above asking price.  Overall, the sales activity has gone up and the inventory is coming down, so we will continue to watch how this plays out over the next few months.

If you would like additional information regarding the Boise real estate market, please visit my website (no sign in required): www.BoiseRealEstateChick.com

Meridian Idaho Real Estate Market Statistics-March 2011

Below are the statistics for the Meridian, Idaho real estate market area for March 2011. I will comment after each section which contains the available homes, pending and sold. All numbers reflect single family/single family with acreage from the Multiple Lisitng Service data.

Available Homes

# Available: 662

# Vacant: 358 (54%)

# Short Sale: 195

# Bank Owned: 39

Median List Price: $169,987

Available homes on the market decreased from February(688) and the number of vacant properties went down as well (Feb. 399). The total number of distressed properties declined from February (280) to March’s (234). Median asking price only rose by $2k.

—————————————————————————————-

Pending

# Pending: 224

Median List Price:$156,450

Median Days on Market: 45

Pending properties are way up from February’s 108 and the median list price is almost identical. The number of pending is a very hopeful sign that the number of closed properties in April will be up yet again.

—————————————————————————————–

Closed Sales

# Closed: 130

# Short Sales: 36

# Bank Owned: 49

Median Sales Price:$142,870

Median Days on Market: 92

While the number of closed sales rose from February’s 105, the number of distressed went up as well. This may explain the drop in the median sales price from February’ $154,875. With more distressed properties closing they continue to drag the median price down. Good for buyers, bad for sellers!

Tomorrow I will post the March real estate statistics for ADA County which encompasses all of Boise, Meridian, Eagle, Kuna and Star.

If you would like additional information regarding the Meridian real estate market please go to my website (no sign in required): www.BoiseRealEstateChick.com

Eagle Idaho Real Estate Market Statistics-March 2011

The numbers are in for the Eagle Idaho real estate market area for March 2011 and they look pretty good. I will give commentary for each section below.

Available Listings:

# Available:256

#Vacant: 108 (42%)

# Short Sales: 66

# Bank Owned: 14

Median Asking Price: $349,375

Number of available is up by 23 compared to February(233), which is actually not to bad considering we are heading into the spring market. I anticipate that this number will go up next month also.

The percent of vacant  homes is down by 2%  from February (44%), but the number of short sales and bank owned are almost identical to last month..

Asking price is up slightly from February’s $344K.

—————————————————————————————-

Pending Sales:

# Pending: 61

Median List Price: $360K

Median Days on Market: 42

Pending’s  went up nicely from February’s 46 but the median asking price fell from $$394,500 to $360K.

—————————————————————————————-

Closed Sales

# Closed: 35

# Short Sales: 14

# Bank Owned: 8

Median Sales Price: $275K

Median Days on Market: 90

Closed sales were up from February (28) with short sales and bank owned doing a flip from last month(February had 7 short sales and 13 bank owned). Median sales price went up very nicely from $234,750 in February. Days on market increased as well though by 26 days (64 DOM in Feb.) but this is probably due to the increase in short sales that closed.

——————————————————————————————-

Overall, the Eagle area looks pretty solid with increases in sold and pending which continues a positive trend for the year. The only area of concern is that the pending list prices are down which could mean that sold prices for April could go down as well.  Tomorrow I will post Meridian’s numbers which look very promising as well. (I will update the Eagle numbers if necessary since some of the solds may not have been entered yet.)

If you are considering buying or selling your home in the Eagle area, please go to my website to see the local Eagle real estate market area homes that are for sale (no sign up required): www.BoiseRealEstateChick.com and if you would like a current market analysis of your home or are interested in purchasing, please feel free to contact me (contact information is on my website).

%d bloggers like this: