Market Statistics

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The number of Boise real estate sales so far this year closely resembled last year's sales.

There were 357 Boise homes sold in April this year, a 3% rise from 2012 and a 10% decrease from last year. In March, real estate sales rose 5% compared to 2013 and 16% compared to 2012. Overall, Boise real estate sale activity is down 5% compared to 2013. It should be noted, that while this is a slight decrease, sales are still considered very strong.

As real estate sales in Boise have risen in recent years, so have home prices. The median home sales price in Boise in April was up to $191,500. Since the begining of 2012, which is when home prices began to move upward, the median home price has increased by 47%.   

Of the 257 home sales April of 2014 (in…
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In Ada County, 2014 has marked the lowest foreclosure rate in the market share seen in several years (compared to the beginning of previous years). As you can see in the graph above, February's foreclosure rate dropped 10% from the year prior. The highest foreclosure rate in the last couple of years (shown in the graph above) was in 2011 at 59.8% and has since then dropped dramatically and stayed between 10 and 14% in the last several months.   As you can see in the graph below, the absorption rate also has been the lowest this year compared to many years prior. Both January and February had the same absorption rate of 5.0 reflecting the stability of the market. In January 2012 the absorption rate was 8.8 and has since dropped down to 5.0. This…
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Boise real estate home sales increased by 48% in March from February with 329 homes were sold. Compared to March '13, real estate sales in Boise increased by 5% and 16% from 2012. 

As you can see in the graph below, real estate sales usually increase in the Spring and Summer months, however the 48% increase Boise experienced in March is significantly higher than a typical monthly increase. Last year there was a 25% increase between these two months; the increase was 23% higher this year.

Boise real estate sales March of 2014 consisted of 288 traditional home sales, 27 bank-owned/HUD homes, and 14 short sales. Compared to previous months you can see that bank-owned/HUD home sales stayed in the same general range while traditional home sales shot

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Real estate sales started off on a strong note in Ada County this year. As you can see in the graph above 406 homes sold in January 2014, a 12% increase from January of last year.   Historically, January is noted for one of the lowest sales of the year; usually rising until it peaks through the summer months. Last year, July had the highest sales; right at the peak of the heat summer of '13. It will be exciting to see how 2014 reflects new increases in real estate sales as the season transitions through spring and summer.
The Ada County foreclosure rate is also continually dropping. As you can see in the graph below foreclosures dropped 14% from last year; foreclosures only accounted for 11.6% of total real estate sales. The…
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In December of 2013, the top selling new construction neighborhoods in Meridian included Paramount, Tuscany Messina Meadows, Alpine Pointe, Bridgetower, and La Mirada. The Paramount subdivision led with 15 of the 51 new construction homes that were sold, and right behind, Tuscany Messina Meadows included 7; Alpine Pointe, Bridgetower and La Mirada each included 3.

Within all of the new construction neighborhoods in Meridian, the highest selling home price was $449,147, selling in the Alpine subdivision and the lowest selling home price was $139,990 in Ambercreek. 

New home sales in December of '13 increased by 9% compared to December of the previous year. Also the median home sales price for newly constructed homes has risen by 13%. In December

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Boise Idaho real estate prices have steadily have been steadily rising in the last three years. In October of 2013 the median home sales price rose by 13% compared to October 2012. October of 2012 also rose by 20% from the year before in 2011. In total it has risen 33% in Boise in the last 2 years. At the height of the market in June 2013 the median real estate price was $199,900 and shifted slightly down in the early fall but has since then picked back up.

Boise Real Estate Prices

As you can see below the Boise foreclosure rate has decreased significantly and steadily in 2012 and in 2013. The Average foreclosure rate for 2012 was about 32% of home sales and the average foreclosure rate for 2013 was 15%, that's a 17% drop in one year. As you can see in 2012 it dropped from

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There were 615 homes sold in Ada County in October of 2013. This is down slightly from September, which is normal, heading into the winter months. Historically, December & January post the fewest sales. This is partly due to people beginning to focus more on the holiday season rather than making a location change. That trend normally reveres in about February. In 2013, February sales had a 22% increase over January as you can see in the graph below.

Ada County Home Sales Oct. 2013

Of the 615 Homes sold in October, 137 of them were new construction, and 478 of them were existing homes. In other words, 29% of sold homes were new, and 71% were existing homes. During 2013, on average, 26% of the monthly sales were new and 74% were existing. This proportion stays pretty consistent

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Ada County new construction sales in March 2013 were up 54% compared to the same month the previous year.  This is a continuation of the steady improvement we've seen in the new home market for quite some time.  In fact, this is the 21st consecutive month of year-over-year increases in Ada County.  As you can see in the graph below, January & February saw modest (relatively) improvements with 20% and 27% increases.  May and October of last year saw new home sales more than the double previous year.

Year-Over-Year Increase in New Home Sales

One of the driving factors for the increase in demand for new homes in the Boise area is the relatively low supply of homes for sale.  During March 2013, there were just 1,787 homes for sale in Ada County.  Compared to inventory in previous years, this

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While 2012 was a great year in the Boise real estate market, 2013 looks even more promising as home values continue their upward trend. From February '12 to February '13, the median price of single-family homes rose from $140,500 to $160,000, an an increase of 12.1%.  Compared to the same time 2 years ago (February '11), the median price was $137,700.

One of the primary drivers for increasing prices is the greater demand and less supply than in years past. Homes for sale in Boise aren't on the market as long as they used to be with an average of 19 days fewer than February '12 & 23 days fewer than Feb '11. The South Boise real estate market was one of the lowest with an average days on market of 46 in February '13.  Homes that are priced right sell

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Boise bank-owned homes dropped dramatically in 2012 when compared to 2011.  December 2012, for instance, saw just 15 REO sales.  The year before there were 66 in December.  In all, there were 1,109 bank-owned homes sold in 2011.  That's approximately 54% more than in 2012, when there were just 513.  When referring to data about bank-owned homes in Boise, HUD properties are included.

Boise Bank-Owned & Hud Sales 2011 vs. 2012

In 2011 REO sales outnumbered short sales.  But, because fewer Boise bank-owned homes are available, short sales were the more dominant type of distressed sale in 2012.  When looking at the total distressed market in Boise (short sales, bank-owned homes, HUD homes), Boise foreclosures have dropped considerably from 2011, nearly 31% in fact.  In 2012, there were 1,189

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