Posts Tagged ‘ selling your home ’

Boise Real Estate Market Statistics=January 2016

Ada County January Market Statistics

Available Homes

# Available: 1667

# Vacant: 1150 (69%)

# Short Sale: 46 (3%)

# Bank Owned: 22 (1%)

Median Asking Price: $275,000

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Pending Sales

# Pending: 1076

Median Asking Price: $255,500

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Closed Sales—January 2015

# Closed: 435

# Short Sale:18 (4%)

# Bank Owned: 31 (7%)

Median Sales Price: $222,300

Median Days on Market: 42

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Closed Sales—January 2016

# Closed: 486

# Short Sale: 5 (1%)

# Bank Owned: 19 (4%)

Median Sales Price: $237,569

Median Days on Market: 34

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2016 Begins!

As we start the New Year, it is starting to look like this is going to be a very interesting year! Inventory in January has not been this low since 2013, with 70 percent of the current available homes being vacant. With low inventory but high vacancies, we can see that the primary sellers on the market right now are builders and investors, both trying to take advantage of a market that is probably going to peak this year.

Once again we see a record number of homes Pending. Typically we are at anywhere from 700 to 800 but have been staying at the 1000 plus mark for several months now. To give some perspective, in 2011 (market bottom), there were only 584 homes Pending! Almost double that right now!

The only trend that was at the normal mark was how many homes closed for January 2016. While we had a big pull back month over month, we are above last years average. We are still hanging around the 30 day mark for Days on Market.

I am holding to my prediction that the Spring market is going to be crazy. Buyers are out there and waiting for decent inventory, and interest rates just went down again (3.8 percent on a 30 yr fixed). This is a really good time to be a seller!

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

 

 

 

 

 

Boise Real Estate Market Statistics- April 2014

Below are the Boise Real Estate Market Statistics for April 2014. Numbers reflect single family/single family on acreage that are either Available, Pending or have Sold. All data is taken from the Intermountain Multiple Listing Service.

Ada County April Market Statistics

Available Homes

# Available: 2464

# Vacant: 1293 (53%)

# Short Sale: 113 (5%)

# Bank Owned: 67 (3%)

Median Asking Price: $258,990

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Pending Sales

# Pending: 1116

Median Asking Price: $225,000

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Closed Sales—April 2013

# Closed: 736

# Short Sale: 87 (12%)

# Bank Owned: 68 (9%)

Median Sales Price: $186,370

Median Days on Market: 20

 

Closed Sales—April 2014

# Closed: 669

# Short Sale: 29 (4%)

# Bank Owned: 42 (6%)

Median Sales Price: $209,000

Median Days on Market: 20

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Asking Price on the Rise!

As I put together the April statistics (remember my newsletter reflects the previous month) I am shocked at the Median Asking Price jump. It is up by $16K over March and March was up by $12K over February! That is a $28K price increase, and in my opinion, that is a pretty steep jump in just a few months time. Not sure that trend can continue into the summer without losing quite a few first time buyers though.

Pending Sales are up but only by 106 homes. Interestingly, even though the Median Asking Price has had such a huge jump for Available homes, that has not been the case for Pending Sales. The Median Asking Price only went up $100 since last month. Another item to note is that year over year Pending Sales are actually down.

For Closed Sales we saw a modest increase in the number of sold homes. The Median Asking Price did see a jump of about $11K, that number has been going back and forth for several months, but it has been awhile since we have been over the $200K mark. And look at the Median Day on Market! 20 Days! Now that is a sure sign of a spring market! I do not expect that to get too much lower and actually after our May numbers come in, it should start trending back up.

For additional information please go to my website:  http://www.BoiseRealEstateChick.com

Silvercreek Realty Group, 1099 S Wells Way, Suite 200, Meridian, ID 83642

 

 

 

 

 

Boise Real Estate Market Statistics – March 2014

Ada County March 2014 Market Statistics

Available Homes
# Available: 2221
# Vacant: 1287 (58%)
# Short Sale: 121 (5%)
# Bank Owned: 64 (3%)
Median Asking Price: $242,990

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Pending Sales
# Pending: 1010
Median Asking Price: $224,900

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Closed Sales—March 2013
# Closed: 575
# Short Sale: 60 (10%)
# Bank Owned: 44 (8%)
Median Sales Price: $186,900
Median Days on Market: 27

Closed Sales—March 2014
# Closed: 583
# Short Sale: 27 (5%)
# Bank Owned: 40 (7%)
Median Sales Price: $198,000
Median Days on Market: 35

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Inventory is on the Rise!

As is typical for this time of year, we are seeing an increase in the available inventory. We are also seeing the Median Asking Price on the rise, up by $18K over the last two months. At the same time the number of Vacant homes decreased indicating an increase in existing homes (traditional seller) versus new (builder).

Pending Sales continue their rise and I expect to see that well into June. The Median Asking Price for pending sales was up by $4K. The bulk (65 percent) of the Pending Sales are in the under $250K price range.

As was expected with the increase in Pending Sales, Closed Sales are increasing as well. The Days on Market are now down to 35 and we can expect to see that number continue to come down over the next few months as the Spring Market takes off. The Sales Price has remained pretty flat for the past several months. Even though the Median Asking Price in Available homes has increased, I don’t see the actual Closed Sales Prices going up too dramatically. Remember, just because sellers are asking more, does not mean they will get more. Buyers determine market price, not sellers. And with the increase in inventory, sellers would be wise to watch market pricing, not wishful thinking!

If you would like additional information regarding the Boise Real Estate Market please feel free to contact me via my website: http://www.BoiseRealEstateChick.com

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

 

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!

 

 

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 – 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-August 2013

Below are the Boise Real Estate Market Statistics for August 2013. These numbers reflect single family/single family homes that are Available, Pending, or have Sold and is taken from the Intermountain Multiple Listing Services data.

Ada County August Market Statistics

Available Homes

# Available: 2466

# Vacant: 1260 (51%)

# Short Sale: 194 (8%)

# Bank Owned: 75 (3%)

Median Asking Price: $229,900

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Pending Sales

# Pending: 1074

Median Asking Price: $209,900

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Closed Sales—August 2012

# Closed: 736

# Short Sale:102 (14%)

# Bank Owned: 52 (7%)

Median Sales Price: $180,000

Median Days on Market: 25

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Closed Sales—August 2013

# Closed: 821

# Short Sale: 49 (6%)

# Bank Owned: 41 (5%)

Median Sales Price: $201,850

Median Days on Market: 21

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Good-bye Summer!

The last few months have been outstanding for real estate but our August numbers reflect a slowing down that started occurring in July. This is actually a good thing! The asking prices were moving up faster than the market could allow. I realize there are many who would like to see their home values go back to what they were during the height of the market. That wasn’t a healthy market nor was it sustainable, we certainly do not want to see a repeat!

Available inventory increased again this month as did the number of vacant homes. This is due to an increase in build jobs. Total number of distressed inventory remains at about 12 percent of the market.

Pending Sales are seeing a pullback but has stayed over 1000 for several months now. My guess is that it will stay around the 1000 mark until at least November.

Closed Sales are down from last month as is the Sales Price. We are also seeing the gap between last years sales numbers and this years getting much closer. My guess is that we will see almost identical sales numbers come the November time frame as well.

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

 

 

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

 

 

By the Numbers…Canyon County June 2013

By the Numbers

Number of homes on the market:
June 2011: 1216
June 2012: 985
June 2013: 1186

Median Asking Price:
June 2011: $112,472
June 2012: $125,000
June 2013: $155,254

Number of Pending Sales:
June 2011: 459
June 2012: 514
June 2013: 583

Median Sold Price:
June 2011: $82,512
June 2012: $102,576
June 2013: $131,200

Number of Distressed Homes Sold:
June 2011: 222
June 2012: 100
June 2013: 76

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