Boise real estate market – February 09

Posted by Jace

March 6, 2009

The Boise real estate market had 153 homes sales in February ’09, down from 175 in January. Roughly 40% homes sales were distressed properties – approximately 17 short sales and 44 bank foreclosures.

A year ago, the Boise real estate market had 216 home sales, two years ago 310, and 359 three years ago (2/06). Currently there’s 2042 homes for sale in Boise. At the February sales rate, that would be 13.3 months of supply.

The average sold price in Boise was $193,912 and the median $172,000. Most of the real estate sales in Boise are occurring in area 0550 and 0650. The areas with the least amount of supply are 0300, 0400, and 0500.

Boise Real Estate	2/09 Sold	# For Sale	Months Supply
North Boise – 0100	17	261	15.4
NE Boise – 0200	5	90	18.0
SE Boise – 0300	19	226	11.9
Boise Bench – 0400	18	211	11.7
South Boise – 0500	11	120	10.9
SW Boise-Meridian – 0550	29	357	12.3
West Boise – 0600	10	131	13.1
W Boise-Garden City – 0650	26	352	13.5
Garden City – 0700	1	20	20.0
NW Boise – 0800	17	274	16.1