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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.
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.
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