Market Statistics

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The Eagle Idaho real estate market had a very strong December with 33 home sales.  This is up 43% over the same time last year and 49% from two years ago.  Below you can see the monthly real estate sales in Eagle in 2010 compared to '09 & '08.

Eagle Real Estate Sales '08, '09, '10

Fifty four percent of the sales were either Eagle Idaho Short Sales or Eagle Bank-Owned Homes.  This is about average for what we've seen in 2010.

Eagle Real Estate Foreclosure Percentage

The median home price in Eagle Idaho rose to $308,000.  Helping lift the median home price was the 6 new construction sales, the highest in 13 months.

The most expensive home that sold in Eagle was a short sale in Brookewood for $600,000 ($113 sq/ft).  The most expensive home price per sq/ft that sold was a new home in The Shores for $156 sq/ft.  Below

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The strongest segments of the Boise real estate market continue to be N & NE Boise.  These established areas of Boise have consistently had the fewest number of foreclosures in Boise.  As you can see below, N & NE Boise have less than 1/2 the foreclosure sales as the other areas of Boise Idaho.

Boise Foreclosure Maket Share Nov 2010

Below you can see the absorption rate, average days on market (DOM), and the median home price for the Boise real estate market.  Once again, North & North East Boise reflect some of strongest numbers.  These areas offer many unique amenities such as proximity to downtown, the foothills, mature landscaping, city parks, green belt, and more.  These amenities do come at a cost as reflected in the median home price that is almost double the Boise average.

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The Meridian Idaho real estate market had 124 home sales last month compared to 175 last year.  Keeping in mind that Nov' 09 the tax credit was set to expire before but was later extended.

While the majority were existing homes sales last month there were also 19 new home sales.  The Meridian neighborhoods that accounted for the majority of the new home sales were Alpine Pointe (3 sales), Bridgetower (4 sales), and Paramount Subdivision (3 sales).

The majority of Meridian homes being purchased are foreclosures. Last month, 57% percent of the real estate sales were either Meridian short sales or Meridian bank-owned homes.  This is about average for what we've seen over the last year.  Here's the Meridian foreclosure market share since March '10.

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The Ada County real estate market (Boise, Meridian, Eagle, Kuna, & Star) posted 442 home sales last month.  This is down from the 533 sold the same time last year (although last year the tax credit was set to expire).

However, the number of homes for sale in Ada County was also down.  Last year, there were 3182 homes for sale & this year just 2490 (the lowest in more than 5 years).

When looking at the absorption rate (monthly sales divided by supply)  November was at 5.6 months compared to 6.0 a year ago.  Below you can see the absorption rate since the peak of the market in 2006. Ada County Real Estate Absorption Rate

The Ada County foreclosure market share rose slightly last month to 54%+/-as the number of non-foreclosure sales lowered & bank-owned rose.  Below is the distribution

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There's currently 194 homes for sale in Eagle with 35 sales being recorded last month.  Eagle real estate sales were up slightly over last year (28) and more than double from 2008 when there was just 16. Here's the monthly real estate sales for Eagle Idaho in 2010.

Eagle Idaho Real Estate Closings

With the current inventory levels and last months sales Eagle's absorption rate of 5.5 months is very strong. The majority of sales were existing homes (32) while all three new home sales were concentrated in Lakemoor subdivision. Fifty-four percent of the Eagle Idaho real estate sales were foreclosure properties (short sale or bank-owned).  This is a larger market share than over the summer but lower than early 2010.  Below you can see the breakdown of closings by sale type since May

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The Boise real estate market had 266 home sales last month.  248 were existing homes and 18 were new construction.  The majority of the sales were occurring in N Boise (31), SE Boise (40), the Bench (32), far W. Boise (50), and SW Boise (41).

The graph below shows the Boise real estate sales in 2010 vs 2009.   As you can see, the first part of '10 surpassed '09 but this fall that has shifted.  The swing can be attributed the tax credit deadlines & extensions.  Originally in 2009, the tax credit was set to expire 11/30 so sales were surging last fall.  Congress then extended the tax credit deadline to 6/30/10 which accounted for the surge in the spring of '10.  Aside from last year, the 266 home sales was the most recorded in the month of October since

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There were 487 real estate sales last month in Ada County (Boise, Meridian, Eagle, Kuna, Star). 47% were either short sale or bank-owned homes (81 short sales & 148 bank-owned).

As you can see below, the foreclosure market is not evenly distributed across Ada County. NE Boise had the smallest number of foreclosure sales that only accounted for 17% of its market activity while the largest influence was 71% in SW Meridian (see which areas had the most home sales last month.)

Foreclosure Market Share in September '10

Browse through the Boise short sales, Meridian short sales, or Eagle ID short sales.  Or, get a list of bank-owned properties and receive email updates on new foreclosures that hit the market.

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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

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The Eagle Idaho real estate market had 26 homes sales in August.  This is down from August of '09 (33 sales) but up from '08 (18 sales).  Below you can see the monthly sales in Eagle Idaho for 2010.

Eagle Real Estate Sales

Forty six percent of the Eagle Idaho real estate sales were foreclosure properties. This is a larger market share than last month but lower than the rest of the year.  Eleven of the foreclosure sales were Eagle bank-owned homes & 1 was an Eagle ID short sale.

Here's the basis specs on those Eagle real estate sales*.  Among other things, you can see what they were asking, the sold price, and the percentage of list it sold for.  You'll notice that the homes with a larger discount were the non-foreclosure sales (not short sales "SS" or "REO").

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The Boise Idaho real estate market in August remained about level with July with 232 sales.  The majority of the sales were existing homes with 214 closings verses just 18 for new construction.  Harris Ranch, Hidden Springs, Rivendell Estates, and Sonta Hills had the most new home activity. Boise Idaho Real Estate Monthly Sales The median home price in the Boise Idaho Real Estate market rose for the 5th consecutive month to $158,950.  Please note that media uses this metric when it goes down to say that market depreciated "x" percentage but rarely mentions it when it goes up.  As I've mentioned, the median home price is most often a reflection of the pressure on values but does not equal depreciation or appreciation. Boise Median Home Price Aug '10 Overall, 49.6% of the Boise Idaho real estate sales were either Boise short
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