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by Jace Stolfo
on Friday, December 21st, 2012 at 11:52am.
Boise foreclosures continued to drop off even more since November numbers came out. The foreclosure market share was 24.7% for the month of November, slightly smaller than the 25.4% posted the month before. Overall, there's been a big drop in foreclosures this year. Especially when you look at January, when Boise foreclosures were at 59.2%. Those numbers have declined considerably over the year, even reaching 20.5% in August. In 2011 there was not as a significant decline in foreclosures, with the range being 40.6%-55.6%.
Boise bank-owned homes have fallen over the year, while short sales have stayed fairly consistent. In fact, November posted the second lowest number of sales for bank-owned properties in a given month (28). This is a 47% decrease compared to January when bank-owned homes accounted for 53 sales. Comparatively, the January/November difference for short sales is only 7. The chart below shows the stats on the different types of Boise foreclosures each month this year.
While Boise foreclosures have dropped considerably from one-year-ago, short sales have remained consistent even when compared to 2011 numbers. That is reflected in the chart below. It's fair to say, that while there are fewer Boise foreclosures available, short sales are the more dominant type of distressed sale. According to Intermountain MLS, there have been 629 Boise short sales so far this year. Most of those short sales were in the Charter Pointe and Columbia Village subdivisions, with 19 and 18 respectively. No other subdivisions had more than 9.