Home Sales in the Boise Metro Real Estate Market

Posted by Jace Stolfo on Tuesday, October 5th, 2010 at 1:25pm.

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 foreclosuresin 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

Search the Boise real estate market using my advanced MLS search or real estate map search.

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