Market Statistics

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Currently, there's 3682 homes for sale in Ada County.  1016 are listed as possible short sales (28%) and 366 are listed as bank-owned (10%). The vast majority of the foreclosures are in the entry level market (under $150,000+/-) while the luxury home market has the lowest number of foreclosures. For homes under $100,000, 82% are either short sale or bank-owned homes.  To some degree this would be expected, that the cheapest homes on the market are also the foreclosures, but you'll see examining the graph below there's a direct correlation with the price range and number of foreclosures. And as you get into the most expensive category of the market there's the smallest number of foreclosures.  For homes over $400,000, only 11% of the listings are…
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Ada county real estate sales slowed in July as the majority of tax credit spurred sales ended the previous month.  Overall home sales dropped from 630 in June to 392 in July.  It's normal for sales to slow in July, but compared to the same time last year they were still down about 25%.

New home sales in Ada County had a much larger decline than existing homes.  From June to July, sales dropped from 146 to just 55. The neighborhoods that had the most activity were Bown Crossing in SE Boise, Harris Ranch in NE Boise, Bridgetower & Paramount in NW Meridian, Tuscany Messina Hills in SE Meridian, Rivendell Estates in West Boise, and Saguaro Canyon in NE Meridian.

If you'd like to find homes for sale in specific neighborhoods, you can search by

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As would be expected, Boise real estate sales cooled considerably in July as the surge of tax credit inspired purchases ceased.  Boise real estate sales in July fell by 34% to 231 closings from June's peak of 349.

Compared to the same time last year, Boise sales were 24% lower.  This broke 12 consecutive months of sales surpassing the same month the previous year.  For comparison, June sales were up 16% and in May were up 28%.

Meridian Idaho also had a 34% reduction in closings from June to July.  Eagle Idaho however, only fell 3% and was still up 15% over last year.

For the Boise real estate market, 44.6% of the sales in July were made up of Boise foreclosures.  This is slightly higher than the previous two months but in line for

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I thought it would be interesting to take a look at the homes currently for sale in Ada County and see what kind of percentages the foreclosures make up.

There's 3551 homes for sale in Ada County (Boise, Meridian, Eagle, Kuna, Star).  1029 are short sales (29%) and 348 are bank-owned (10%).

Of that 29% that make up the short sales in Ada County, 31% are "contingent".  That means they have at least one offer on the property and are in the several month time-frame for lender approval.

This first graph shows the percentages of homes that are short sales by MLS area.  The areas with the lowest percentages of short sales are Garden City, NE Boise, N Boise, and SE Boise.  The highest areas are Star, Kuna, and SW Meridian.

Percentage of Homes for Sale that are Short Sales

For bank-owned (REOs)

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As would be expected, Boise Idaho real estate sales surged again in June as the final push for closings came to an end before the tax credit deadline (Note: Congress did approve the closing extension time-frame to 9/30/2010 . The April 30, 2010 deadline for a executed contract is still in place).

Boise Idaho real estate sales were up about 17% with 349 closings in June verses 292 last year.  This is the eighth consecutive month of home sales surpassing the previous year.  Below you can see how monthly home sales in 2010 have compared to 2009.

While there's been more real estate sales in Boise, a larger percentage of those sales have been foreclosures.  In June, 39% of the sales were foreclosures compared to 26% last year.  The graph below charts

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The Boise real estate market, as did the rest of Ada County, had a very strong month in May.  There were 339 homes sales, down slightly from April's 348, but up 28% compared to the same time last year.

The majority of the Boise homes selling are in the lower price ranges.  45% of the Boise real estate sales were between $100,000 and $150,000 while only 2% of the sales were homes over $400,000. The median home price in Boise was up slightly from last month to $148,000.

The market share of Boise foreclosure sales dropped to 34.2% compared to 44.8% last month.  Below you can see monthly sales for Boise bank-owned property & Boise short sales over the last 3 months.

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The Meridian ID real estate market had 163 single family home sales in April. This is up about 25% over last year. As you can see in the graph below, 2010 real estate sales have been substantially stronger than 2009 (largely spurred by tax credit).

Of the 163 Meridian ID real estate sales, 35 were new construction and 128 existing homes sales.  The new home sales are level with April last year while existing home sales were up 31%.  The majority of new home sales were in CBH neighborhoods like Ventana and Silverleaf while other builders had success in Paramount & Tuscany Messina Meadows.

Meridian short sales & Meridian bank-owned properties accounted for fewer overall sales in April while non-foreclosure market share grew.  As you can see below,

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There were 46 home sales in the Eagle Idaho real estate market last month. This is up 46% compared to the same time last year.  Below you can see how the first four months of this year have compared to the previous two years.

Fifty four percent of the Eagle Idaho real estate sales were Eagle short sales or Eagle bank-owned property.  Below you can see the market share of foreclosure over the last 13 months.  As you can see, the percentage has generally fluctuated between about 35% and 60% with a high of 76% in January. The 13 month average was 51.6%.

Search the MLS for Eagle Idaho real estate.

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There were 348 sales in the Boise ID real estate market during April.  This is a 13% increase over last month and a 41% increase over last year.  With 348 home sales this is the largest number of real estate sales for Boise ID since 2007.  Below you can see monthly sales for Boise ID since January 2008.

Forty of the 348 home sales were new construction.  One Boise neighborhood in particular grabbed quite a large market share (33%) called Rivendell Estates near Cloverdale & Franklin.  This development was recently taken back by the lender through foreclosure who then partnered with a local builder to come up with a very competitively priced product.  Tying for 2nd in market share was Sonata Hills in South Boise & Hidden Springs in NW Boise (each

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Boise real estate sales surged in March by 43% compared to February with 311 single family homes sold.  This is a 36% increase over last year an 11% increase two years ago.

The median home price in Boise has continued a downward trend (only a reflection of pressure on prices) and in March was $155,000.  The graph below shows the median sale price for the Boise real estate market over the last year.

Boise real estate foreclosures remain the largest negative factor for values. Last month 43% of the property sales were distressed sales.  Here's the foreclosure market share over the last 4 months.

The deadline for the home-buyer tax credit is scheduled to expire April 30, 2010 (unless you have valid contract closing by June 30, 2010).

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