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by Jace Stolfo
on Tuesday, August 10th, 2010 at 1:25pm.
As would be expected, Boise real estate sales cooled considerably in July as the surge of tax credit inspired purchases ceased. Boise real estate sales in July fell by 34% to 231 closings from June's peak of 349.
Compared to the same time last year, Boise sales were 24% lower. This broke 12 consecutive months of sales surpassing the same month the previous year. For comparison, June sales were up 16% and in May were up 28%.
Meridian Idaho also had a 34% reduction in closings from June to July. Eagle Idaho however, only fell 3% and was still up 15% over last year.
For the Boise real estate market, 44.6% of the sales in July were made up of Boise foreclosures. This is slightly higher than the previous two months but in line for what it has been in 2010.
The median home price in Boise was $151,000, the same as June and about average to what we've seen over the last 5 months.