October 2009

Monthly home sales in the Ada County real estate market continued to grow stronger compared to last year.  September had 546 home sales compared to 455 a year ago, a 20% increase.  There's also fewer homes for sale in Ada County, with 25% less than last year.  The graph below shows how monthly sales have changed this year compared to last year by percentage:

Ada County home sales in September recorded the 2nd highest monthly sales since August of '07.  The graph below shows the total home sales in the Ada County real estate market for the last five months:

New home sales in the Ada County real estate market increased in September after staying mostly level from June through August.  110 new homes were sold in September, up from 91 in

Home sales in the Eagle real estate market fell slightly from last month, but were close to the overall level for the past five months.  The monthly sales for the Eagle real estate market can be seen in the graph below:

Out of the 38 home sales, 50% were Eagle foreclosures.  As the following graph shows, 9 home sales were Eagle short sales, while 10 were Eagle bank-owned.

The average home price for existing homes in Eagle has increased by 28.3% since May.  The following graph shows the upward trend of average home prices in the Eagle Idaho real estate market for the past five months.

Data source: Boise MLS (IMLS).  Information not guaranteed.

Boise Idaho foreclosures currently account for 29% of all the available homes for sale in Boise Idaho.  Boise short sales make up 25% while Boise bank-owned homes make up 4%. Compared to 6 months ago, the market share of Boise foreclosure has increased from 23%.

The 6% increase in Boise Idaho foreclosures can all be attributed to an increased number of short sales. What's important to know about this, is that while the number of short sales has increased, so has the number offers on them. Currently, 35% of all the available short sales are on "contingent" status.  This means they have at least one offer that's been submitted to the lender but the homeowner & listing agent are still encouraging back up offers.  The reason for this is that the short sale

Sales in the Boise, ID Real Estate market made a nice rebound during September 2009, posting an 18% increase from the month of August.  This is largely due to buyers trying to get in before the tax credit deadline.  With 322 home sales, this is 14% more than a year ago. As shown in the graph below, September even outpaced the spring and summer months.

Many of the September sales in the Boise, ID Real Estate market were on foreclosure properties which made up 32.9% of the home sales.  Of the 106 foreclosures, 50 were bank-owned sales and 56 were Boise ID Short Sales.  This is up significantly from previous months, as can be seen in the following graph:

When broken down by area , SW Boise-Meridian led the way in September, with 54 houses

Sales in the Meridian, Idaho real estate market bounced back from July, as total purchases increased by a number of 34 in August.  The graph below shows sales in the Meridian, Idaho real estate market for the last four months:

When broken down, foreclosures in the Meridian, Idaho real estate market have increased since May in both bank-owned and Meridian short sales, with 44 and 33, respectively.  Non-distressed home sales also showed an increase from July, going from 96 to 110, as seen in this graph:

During the month of August, NW Meridian continued to be the hot spot in the Meridian, Idaho real estate market, as 50% of total houses sold in that area.  All but SW Meridian showed a jump in sales in August compared to the previous month.  The