February 2010

There are 2 blog entries for February 2010.

In the last two months there's been about 100 bank-owned home sales in Boise.  I compiled this data to look at latest trends as they pertain to the percent discounted off the asking price.  Contrary to the tone you hear in the national news the local Boise bank-owned properties typically sell very quickly and close to the asking price.

42% of the Boise bank-owned properties sell at asking price or more.  Just 3% sell at more than a 15% discount.  It should be noted that the homes that sold with the larger % discounted were homes close to or under $100,000. It's less likely the get a 20% discount on a $300,000 home as it on a $100,000 home.

There's several factors in determining how much can be negotiated off bank-owned homes: (1) how long has it

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Boise real estate sales were up 25% compared to last month and down 14% compared to a year ago.  The median home price was $168,300 and average $193,790, both up from the previous 4 months.  There were 151 real estate sales in Boise, with the largest market share in SW Boise.

Here you can see the average and median sold price in these Boise real estate areas:

Boise MLS Area # Sold Average $ Median $
North Boise - 0100 15 $253,398 $210,000
NE Boise - 0200 7 $382,143 $335,000
SE Boise - 0300 15 $210,400 $225,000
Boise Bench - 0400 14 $152,374 $138,950
South Boise - 0500 8 $176,238 $153,450
SW Boise-Meridian - 0550 40 $165,153
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