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by Jace Stolfo
on Thursday, November 21st, 2013 at 10:50am.
Boise Idaho real estate prices have steadily have been steadily rising in the last three years. In October of 2013 the median home sales price rose by 13% compared to October 2012. October of 2012 also rose by 20% from the year before in 2011. In total it has risen 33% in Boise in the last 2 years. At the height of the market in June 2013 the median real estate price was $199,900 and shifted slightly down in the early fall but has since then picked back up.
As you can see below the Boise foreclosure rate has decreased significantly and steadily in 2012 and in 2013. The Average foreclosure rate for 2012 was about 32% of home sales and the average foreclosure rate for 2013 was 15%, that's a 17% drop in one year. As you can see in 2012 it dropped from 59.2% in January to 20.5% in August, just 6 months later. This is a great indicator that the Boise real estate market has largely recovered from the foreclosure crisis that had dominated our recent years. The most recent Boise foreclosure rate in October has been at a low of about 10% of home sales.
As you can see below, the Boise real estate home sales have also risen in the last three years. The numbers have risen on average by about 13% in 2013 and by 9% in 2012. In October of 2013 there were 362 homes sold in Boise, which is 6% higher than the year before at 342 homes. The home sales are slightly lower this time of year in comparison to the summer months, heading into the Holiday Season. Historically it picks back up in February continuing upward through the year. All in all 2013 is a great year for real estate sales in Boise.