Posts Tagged ‘ winter market ’

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

 

 

 

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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.

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