Home Sales in the Boise Metro Real Estate Market

Posted by Jace

October 5, 2010

Have you wondered where most of the home sales are occurring in the Boise real estate market? As you can see below, the largest number of sales are in NW Meridian, W. Boise/Garden City, SW Boise, NE Meridian, and North Boise. These areas are identified by MLS zones 100, 550, 650, 1020, & 1030 on this map.

Number of Homes Sales in September '10 by MLS Area

While the above graph reflects real estate demand, the information more useful when supply is also taken into consideration. The most effective measure to show that balance of supply vs demand is called an absorption rate (inventory divided by sales). The following graph shows the absorption rate in September ’10 by MLS zone. The lower the absorption rate, the more demand and less supply.

The average absorption rate for Ada County was 7 months. You can see about half of the areas were below this average & about half were above.

Another factor to consider is the market share of foreclosures in these areas.

If you prefer looking at just the numbers, here’s data, including days on market for each area around Boise.

Boise Metro Real Estate	# for Sale	Sep ’10 Sales	Absorption Rate (Months)	DOM
SW Meridian – 1010	26	7	4	54
South Boise – 0500	105	18	6	66
SE Boise – 0300	194	26	7	71
SW Boise-Meridian – 0550	285	47	6	76
North Boise – 0100	197	42	5	77
NE Boise – 0200	73	12	6	79
NE Meridian – 1020	261	42	6	80
W Boise-Garden City – 0650	330	49	7	81
West Boise – 0600	154	28	6	87
Eagle – 0900	224	24	9	93
NW Boise – 0800	218	31	7	98
NW Meridian – 1030	449	71	6	98
Boise Bench – 0400	238	24	10	105
Kuna – 1100	182	23	8	119
SE Meridian – 1000	144	21	7	132
Star – 0950	120	11	11	136
Garden City – 0700	18	2	9	196
Total/(or Average)	3218	478	7	97