Boise Real Estate Market | May '09 Home Sales

Posted by Jace Stolfo on Tuesday, June 9th, 2009 at 1:23pm.

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

3 Responses to "Boise Real Estate Market | May '09 Home Sales"

Steven wrote: 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.

Posted on Wednesday, June 10th, 2009 at 12:33pm.

Jace wrote: 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.

Posted on Wednesday, June 10th, 2009 at 2:16pm.

richard stabile Bergen County New Homes wrote: 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.

Posted on Thursday, June 18th, 2009 at 7:54pm.

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