Tagged : boise foreclosures

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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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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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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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Boise real estate sales in 2012 are up from the year before, making it the 4th consecutive year of increasing transactions.  The average number of homes sold on the Boise MLS each month this past year was 323.2, and the total for 2012 was 3878.  This represents a 26% increase over 2009, and an 8% increase over 2011.  The increasing market demand has been realized in most places in Idaho, and especially Ada County.

Boise Real Estate Sales 2009-2012

For the month of December, Charter Pointe subdivision had the most homes sold in a single subdivision with 6.  In fact, they have been one of the more popular subdivisions in the Boise real estate market all year.  Attracting much of the attention to the neighborhood was that of the 96 sales in 2012, 43 were foreclosure sales (44.8%). 

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Boise foreclosures continued to drop off even more since November numbers came out.  The foreclosure market share was 24.7% for the month of November, slightly smaller than the 25.4% posted the month before.  Overall, there's been a big drop in foreclosures this year.  Especially when you look at January, when Boise foreclosures were at 59.2%.  Those numbers have declined considerably over the year, even reaching 20.5% in August.  In 2011 there was not as a significant decline in foreclosures, with the range being 40.6%-55.6%.

Boise Foreclosures 2011 vs. 2012

Boise bank-owned homes have fallen over the year, while short sales have stayed fairly consistent. In fact, November posted the second lowest number of sales for bank-owned properties in a given month (28).  This is a 47%

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The number of Boise bank-owned homes has dropped considerably from one year ago.  In September 2011, REO homes accounted for 79 homes sales, compared to just 19 in September of this year.  The biggest drop can be seen in the month of May where there was more than a 70% plunge from the year before.  In the graph below, you can see a similar drop when looking at April and June.  When gathering data for bank-owned homes in Boise ID, HUD homes are also included in the total.

Boise Bank-Owned Homes

When concerning the foreclosure market share, we should also look  at short sales.  While the number of Boise bank-owned homes has fallen, short sales have gone up slightly.  This past July there were 61 short sales, compared to 48 in July 2011.  But, over the past couple of months

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The Boise foreclosure market share has continued its steady decline through 2012.  In September, foreclosures accounted for just 22%, which is the second lowest we've seen since the market had its downturn.  The only month that was lower was August at 20.5%. Comparing this to a year ago, this is approximately a 50% reduction in the number of foreclosures in Boise, Idaho.

Foreclosure Market Share 2012

When gathering this Boise foreclosure market data, we are looking at bank-owned homes, short sales, and HUD homes.  Most notably bank-owned and HUD homes have dropped 73% since January.  Short sales have declined slightly.  The graph below shows the trend for those sales in 2012.

Boise Foreclosures By Type 2012

While the number of Boise foreclosures have been going down, overall Boise real estate sales

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Boise real estate sales remain strong through the end of the 1st half of 2012.  There were 394 recorded sales of single family homes in the Boise Idaho real estate market in June 2012.  This total represents a 69% increase in single family home sales since January 2012.  As shown on the graph below, there were 342 sales of existing single family homes in the Boise real estate market in June 2012, an increase of 134 home sales (64.4%) since the beginning of the year.

Boise Real Estate Sales | 1st Half of 2012

The increase in new home sales in the Boise Idaho real estate market for the 1st half of the year proved to be even more impressive.  There were 25 new single  family homes sold in January of this year and 52 in June.  This equates to a 108% increase in 6 months.

Boise Real Estate Sale Type | 1st Half of 2012

During this same

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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 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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