March 2010

In the last three months, 51% of the home sales in Ada County have been foreclosure sales. 20% were short sales and 31% were bank-owned properties.

Areas around downtown Boise, that were largely developed before the boom of '05-'07 have a smaller percentage of foreclosures than areas on the peripheral of the county.  Please keep in mind that areas with a fewer number of overall sales can more easily fluctuate in percentages.

Here's a detailed breakdown of the Ada County foreclosure market:

Last month there was 179 home sales in the Boise Idaho real estate market. This is up about 15% over last year.  Compared to Ada County as whole (Boise, Meridian, Eagle, Kuna, & Star), sales were up 32%.  The average home price in Boise Idaho was $181,919 and the median was $163,000.

B

oise Idaho real estate foreclosures accounted for 43.6% of the sales (Boise short sales & Boise bank-owned properties).  This is roughly level of what we've  seen over the last 3 months but higher than the spring and summer when they accounted for 26%-33%.  This trend of a higher foreclosure market share was the same last winter as there's a reduced number of non-foreclosures sales.

Below is the Boise Idaho real estate sales by MLS area.  SE & W Boise had

Ada County real estate sales were up about 32% compared to the same time last year.  Boise, Meridian, Star, Kuna, and Eagle Idaho had a total of 350 home sales compared to 265 last year.  This is the 9th consecutive month where monthly home sales outpaced the previous year.  The column graph below shows Ada County real estate sales by month compared to last year.

The 32% increase in Ada County real estate sales is the third largest in the last 9 months.  As you can see below, home sales have outpaced last year by as little as 3% and as much as 101%.

Ada County foreclosures made up 50% of the real estate sales in February. There were 175 non-foreclosure sales, 102 bank-owned (REO) sales, and 73 short sales.

With an average of 3038 homes