Market Statistics

There are currently 141 blog entries related to this category.

There were 3,579 home sales in Boise during 2011.  Of these, 1,713 were Boise Idaho foreclosures consisting of 605 short sales, 1003 bank-owned (REO) properties and 105 HUD properties. The largest majority of homes sold in Boise, 2,702 or 75% of all home sales for 2011, sold for less than $250,000. Boise Homes by Sold Price | 2011 Of the 875 homes under $100,000 that were sold, 83% were foreclosures (short sales, bank owned and HUD properties); whereas only 53% of the homes between $100,000 and $150,000 were foreclosures.  As you can see from the graph, the higher the price the lower the percentage of foreclosures in Boise Idaho.  In fact, for properties over $300,000, only 9% were foreclosures. Percentage of Boise Foreclosures by Sold Price  |  2011 Many people find it surprising that the vast majority of Boise Idaho
1,831 Views, 0 Comments.

The Ada County real estate market had fewer homes for sale in 2011 than 2010 or 2009.  In January 2011, there were 2,232 homes for sale.  This represents a 25% decrease from January 2010 when there were 2,991 active properties, and a 40% decrease from 3,764 properties in January 2009.  There was a steady decline in the number of active properties during the second half of each year, ending with an annual low in December. Number of Homes for Sale in Ada County in 2011 Even though there were fewer properties available for sale in 2011, more properties sold in 2011 than in the previous two years.  In 2011, 6,232 properties were sold compared to 5,843 in 2010.  Of the total 2011 sales, 3,116 were foreclosures (short sale, bank-owned and HUD properties).  In 2010, the total number of Boise Idaho
1,876 Views, 0 Comments.

Boise home sales for 2011 were slightly above 2010 levels in most areas of Boise.  The exceptions were  North Boise and Garden City, where 2011 home sales measured slightly lower than 2010.  The largest increase in home sales in the Boise area for 2011 were found in Boise Bench, with NE Boise following close behind, as can be seen in the graph below. Boise Home Sale Comparison by Area | 2010-2011 As shown in the following graph, the largest number of Boise home sales were in West Boise, SW Boise, Boise Bench and SE Boise with sales for 2011 totaling 688, 601, 547 and 527, respectively.  Garden City had the fewest number of sales for 2011 with a total of 44, about the same as its total for 2010. Boise Home Sales by MLS Area | 2011 As can be seen in the graph below, even though Garden City had only 44 sales in 2011, 0r 1% of…
3,287 Views, 0 Comments.

The end of 2011 brought some good news to the Boise real estate market. The second half of 2011 showed a marked increase in the sale of real estate in Boise when compared to the same time period of 2010. In fact, the sale of new homes in Boise increased by 50% from July through December compared to 2010. In addition, existing homes sales increased by almost 16% over the same time period. The graph below charts the monthly home sales for Boise for the last 6 months of 2011 & 2010.

New and Existing Home Sales in Boise

The Boise real estate market also saw a decrease in the number of Boise foreclosures for the last half of 2011 compared with 2010.  The  chart below shows a steady decrease in the number of foreclosures beginning in August 2011 and continuing through the end of the year. Boise 2011 Foreclosures Compared to 2010

1,565 Views, 0 Comments.

Ada County real estate sales were up 43% in July over the same time last-year.  This was to be expected as Federal Government tax-credit ended June 30, 2010.  Nonetheless, with 563 home sales that's the strongest July since 2007.

You can see the graph below plots the Ada County real estate sales since 2006.  Ada County is comprised of Boise, Meridian, Eagle, Kuna, and Star Idaho.

Ada County real estate home sales

The market share of foreclosures has been decreasing in Ada County.  In July, 44% of the sales were short sales or bank-owned homes; down from almost 60% in March.

Ada County Foreclosure Market

Declining foreclosure market share during the summer months is a common trend so they may again increase in this fall/winter.  Compared to the same time a year-ago, foreclosures accounted for 46.9% of

1,722 Views, 0 Comments.

Corbett Bottles Real Estate Marketing auctioned off five R. Grey Loft condos in downtown Boise yesterday.  The 16-unit project was built several years and was recently purchased by an investor who offered a minimum of 5 units to be sold absolute with no minimum or reserve price.  With an estimated 100-150 people in the room, the units went quickly.

Unit #206 went first for $262,500.  You can see the all sale data below, in the order in which they sold. (A 5% buyer's premium was added to live bid to arrive at the final sales price)

Unit# Live Bid Sales Price Sq/ft Price/SF
206  $  250,000  $   262,500 1358  $      193
212*  $  172,500  $   181,125 1803  $      100
202  $ 
3,505 Views, 0 Comments.

Mortgage Interest Rates dropped significantly this week with the 15 year fixed-rate (FRM) & 5-Year ARM hitting record lows (1).

According to the Primary Mortgage Market Survey (PMMS), the 15-year FRM averaged 3.54% this week while the 5-year ARM averaged 3.18%.  The  30-year FRM hit its lowest level in 2011 averaging 4.39%.

Idaho Central Credit Union was offering a 15-year fixed rate mortgage today & yesterday for 3.25% which is the lowest I could find locally.  Call Sean Palmer at Idaho Central Credit Union for a quote of today's rates: (208) 846-7109.

(1) Source:

2,462 Views, 0 Comments.

The Boise Idaho real estate sales market had 349 closings in June '11.  The is up 8% from May and about even with the same time a year ago.  The median home price increased for the 4th consecutive month to $139,700 but is down 7.5% from the same month a year ago ($151,000).  Below you can see the Boise Idaho real estate sales by month for 2011.

Boise Idaho Real Estate Sales

The number of homes selling in Boise Idaho in 2011 has been about even with last year.  Although, I anticipate the next few months to to surpass 2010 levels.   As you can see in the graph below, 2010 sales dropped substantially in July as the tax credit ended.  2011 has not had that type of external factor propping up sales, so real estate activity will likely remain strong in July and then begin to taper

1,846 Views, 0 Comments.

It's interesting to look at the number of foreclosures currently for sale as well as how many have been selling.  And more specifically, how that data fluctuates across the Boise real estate market.

The first graph you see below looks at sold homes in May '11.  There were a total of 584 real estate sales in Ada County.  94 were short sales and 225 were bank-owned homes.

Percentage of Sold homes that were foreclosures in Boise

Overall, these short sale & bank-owned homes comprised 55% of the market.  NE Boise had the smallest market share with just 13% while Kuna had 90%.  Garden City had 100% but that only comprised 1 sale.  Star & SW Meridian also top the charts with 79% & 80% respectively.

Interestingly, just because some of these areas had the largest percentages of foreclosure sales, doesn't

2,190 Views, 0 Comments.

There’s currently a very unique trend in the Boise real estate. Historically, in the spring & summer months the number of homes for sale increases as more people list their home during the busiest selling time of the year.

However, 2011 has bucked that trend as the number of homes for sale in the Boise real estate market has continued down. Below you can the inventory levels in Ada County from January ’07 through April ’11. June ’08 was the peak with almost 5200 homes for sale and April ’11 was the lowest at 2133.

Homes for Sale in Ada County

This can be frustrating trend for some home-buyers with more unique requirements as there are fewer homes to choose from.

There are however many Boise short sales & Boise Bank-Owned Homes to choose from. Although, the overall number

1,669 Views, 0 Comments.