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by Jace Stolfo
on Wednesday, January 20th, 2010 at 9:36am.
Homes sales over this fall have been very strong but did cool considerably in December as people began focusing on the holidays. The Boise ID real estate market had about 11% more sales in December of ‘09 compared to December ‘08. There were 203 homes sales in the Boise real estate market with a median sold price of $158,650 and a average sold price of $186,128.
Total sales in the Boise ID real estate market was about even in 2009 versus 2008 with 3017 this year compared to 2996 last year. However, the distribution of these sales was quite uneven as you can see in the following graph. 2009 home sales started off very weak but ended very strong as low rates and the first-time home buyer tax credit spurred sales. In November, there was almost 50% more sales than the previous year.
Overall, the median home price in Boise declined about 10% over 2009 (reflection of depreciation but not equivalent). The median price had stabilized over the summer but again began to go down this fall with the exception of December.
The majority of Boise ID real estate sales in December were in W. Boise & SW Boise. Boise foreclosures made up 44% of the market share compared to about 30% over the last 6 months. The increase in market share was not due to more foreclosure sales but a decrease in non-foreclosure sales.
The following graph breaks down the market share for how homes were purchased in December. Conventional loans made up the largest market share.
The source of this data is the Boise MLS (IMLS). Information not guaranteed. Search the Boise ID real estate market.