Tagged : Boise Real Estate

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Summer in Boise, Idaho brings a different kind of quiet or more accurately put, the din of screaming fans cheering a touchdown on Boise State University's blue turf gets replaced by the steady hum of bees buzzing around summer blossoms and the sounds of dogs barking at the local dog park. It's a season which inspires the people living in the City of Trees to get out and move -- their bodies, their furniture from end of the living room to the other and even to a new home. But there are some things that wayward Boiseans should consider if they'd like to switch one piece of Boise real estate for another.

During the last five years since the market crash of 2008, many potential new homebuyers have either pulled back their efforts to buy a new home or

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3887 S Duston Pl Boise, ID 83706 | MLS #98522988

Status: SOLD 3Bd/2.5Ba | 2013 Sq/Ft

Listed by Keller Williams Realty Boise

Great new listing in SE Boise! Boise real estate listings in the coveted SE end of town are in short supply.  And it's no wonder, this location offers so many amenities and some of the best schools Boise has to offer.  Less than a mile away from this Boise listing is Bown Crossing, the Boise River, and more!

This charming and functional home was built in 1987 and has 2013 sq/ft.  The master bedroom is ideally located upstairs along with the great room (kitchen open to the family room).  The fully finished basement has 2 additional bedrooms, full bathroom, and a second family room.  The downstairs family room would be

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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 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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Over the year Boise bank-owned homes have dropped rather significantly, especially when compared to Q1 numbers.  During the first three months of the year the average amount of sales for bank-owned homes in Boise was 74.  Numbers for this type of distressed dropped by a large margin for Q2 and Q3, 44 and 26.3 respectively.  The chart below shows the exact amount of Boise bank-foreclosures sold each month this year.  November 2012 numbers are similar to the Q3 average.

Boise Idaho Bank-Owned Homes 2011 vs. 2012

The chart also points out 2011 numbers.  Clearly, Boise bank-owned homes have dropped off significantly when compared to one year ago.  Since April, in comparison to 2011, there's been more than a 50% drop in 2012 numbers.  More closely, the average amount of REO sales (through

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New home sales are on the rise in the Boise real estate market.  In fact, according to the chart below, almost every month this year has outperformed the previous two years.  There's only one exception; June 2010 posted 69 new home sales.  The fall of 2012 has seen approximately double the sales from a year ago and in some cases more than triple from 3 years ago.

New Real Estate Sales in Boise Year over Year

One reason that new home sales in Boise may be seeing a big increase is the fact that there are fewer foreclosures in Boise available. In fact, 2012 has also posted some of the lowest foreclosure numbers we've seen in the Boise real estate market in recent years.  The graph below shows the trend for  foreclosure sales in 2012 has been consistently down.  While January was at 59.2%, October

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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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According to the Builder Sentiment Index recently released by the National Association of Home Builders/Wells Fargo, it appears that homebuilder, as well as consumer, confidence in the housing market is increasing and is now at a five-year high. This index, compiled from the responses of 478 builders, showed that, nationwide, home builders have seen higher new construction sales this year, possibly buoyed by falling mortgage rates and an otherwise decreasing market inventory. In June, the NAHB reported that the number of building permits for single family homes are at their highest levels since March 2010, and there were more housing starts in June than in almost 4 years.

Consumer confidence appears to be trending upward in the Boise Idaho real estate

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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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2147 S. Tollgate Place, Boise, ID 83709

Updated Status: SOLD

Southpoint Subdivision

$224,900

2,684 sq. ft.

4 bd / 2 ba + Upper Bonus Room

Located on a quiet cul-de-sac, this single level home is in excellent condition. Enjoy the spacious split bedroom floor plan, upper bonus room, separate tub and shower in the master bath, vaulted ceilings, decorative archways in the living and dining rooms, built-in bookshelves in the family room and lots of windows for natural lighting. Cabinets in garage offer lots of storage. Fenced yard has deck and mature trees. Call today for a showing!

Listed by Stolfo Real Estate Group | Keller Williams Realty Boise

Call 208-484-2560 for more information or a showing

Request more information

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