Boise Real Estate Market – May ’09
The Boise real estate market had a 26% gain in home sales over last month with 253 sold (down 9.5% from a year ago). The average sold price was up to $219,840 from $193,712 and the median up to $170,000 from $163,000. These are the higest average and median sold prices in the Boise real estate market since November ’08.
The Boise real estate foreclosure market actually had a decrease in market share. In March and April Boise foreclosures accounted for 38% of all the homes sold while May foreclosures had a 30% market share (19% bank-owned and 11% short sales).
Below is the Boise ID real estate sales by month since January.
| Boise Real Estate | Jan-09 | Feb-09 | Mar-09 | Apr-09 | May-09 |
| North Boise – 0100 | 19 | 17 | 14 | 14 | 29 |
| NE Boise – 0200 | 6 | 5 | 8 | 8 | 13 |
| SE Boise – 0300 | 23 | 19 | 20 | 27 | 22 |
| Boise Bench – 0400 | 20 | 18 | 23 | 28 | 27 |
| South Boise – 0500 | 10 | 11 | 6 | 14 | 16 |
| SW Boise-Meridian – 0550 | 44 | 29 | 50 | 42 | 54 |
| West Boise – 0600 | 12 | 10 | 19 | 18 | 15 |
| W Boise-Garden City – 0650 | 24 | 26 | 35 | 40 | 45 |
| Garden City – 0700 | 0 | 1 | 2 | 2 | 3 |
| NW Boise – 0800 | 17 | 17 | 22 | 20 | 29 |
| Total Boise ID Real Estate Sales | 175 | 153 | 199 | 213 | 253 |
Here’s a more detailed look at the Boise real estate sales for May 2009:
| Boise Real Estate – May ’09 | # Sold | Average Price | Median Price | DOM |
| North Boise – 0100 | 29 | $350,448 | $325,000 | 114 |
| NE Boise – 0200 | 13 | $399,654 | $370,000 | 49 |
| SE Boise – 0300 | 22 | $267,224 | $245,000 | 69 |
| Boise Bench – 0400 | 27 | $150,581 | $144,000 | 102 |
| South Boise – 0500 | 16 | $193,503 | $161,750 | 51 |
| SW Boise-Meridian – 0550 | 54 | $184,881 | $161,950 | 106 |
| West Boise – 0600 | 15 | $128,471 | $135,000 | 70 |
| W Boise-Garden City – 0650 | 45 | $170,910 | $157,000 | 84 |
| Garden City – 0700 | 3 | $191,633 | $200,000 | 80 |
| NW Boise – 0800 | 29 | $212,577 | $184,900 | 97 |
Data source: Boise MLS (IMLS). Information not guaranteed.
Search the entire MLS for free and no registration: Boise Idaho real estate
No related posts.
Like this post? Leave a comment or subscribe to the RSS feed and stay up to date on future articles.
Comments
Steven, thanks for the comment. You’re right about rates, they’ve really jumped in the last few weeks. I wanted to make a note about about home prices. While the average & median price went up in May, that doesn’t mean prices on specific homes went up. Those measures give more of an indication on the market pressure but is not a direct correlation of appreciation/depreciation. You’ll see the media use median value to make statements about appreciation/depreciation percentages but that’s inaccurate.
It looks like Boise is picking up, many other areas of the country are also. Youre market stats look particularly good.
Lets hope rates stay reasonable and we can keep rolling.
For first time homebuyers, it is looking like we missed the boat (the best one anyway). With mortgage rates up to 5.87 (when I applied for a GFE just a few weeks ago it was 4.74) and home prices going up, anyone who waited is getting pushed out of the market. And good homes are going faster – The only home I saw that I wanted to make an offer on sold in 7 days at 180k.