Tagged : Market Statistics

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The number of Boise real estate sales so far this year closely resembled last year's sales.

There were 357 Boise homes sold in April this year, a 3% rise from 2012 and a 10% decrease from last year. In March, real estate sales rose 5% compared to 2013 and 16% compared to 2012. Overall, Boise real estate sale activity is down 5% compared to 2013. It should be noted, that while this is a slight decrease, sales are still considered very strong.

As real estate sales in Boise have risen in recent years, so have home prices. The median home sales price in Boise in April was up to $191,500. Since the begining of 2012, which is when home prices began to move upward, the median home price has increased by 47%.   

Of the 257 home sales April of 2014 (in…
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In Ada County, 2014 has marked the lowest foreclosure rate in the market share seen in several years (compared to the beginning of previous years). As you can see in the graph above, February's foreclosure rate dropped 10% from the year prior. The highest foreclosure rate in the last couple of years (shown in the graph above) was in 2011 at 59.8% and has since then dropped dramatically and stayed between 10 and 14% in the last several months.   As you can see in the graph below, the absorption rate also has been the lowest this year compared to many years prior. Both January and February had the same absorption rate of 5.0 reflecting the stability of the market. In January 2012 the absorption rate was 8.8 and has since dropped down to 5.0. This…
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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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Ada County new construction sales in March 2013 were up 54% compared to the same month the previous year.  This is a continuation of the steady improvement we've seen in the new home market for quite some time.  In fact, this is the 21st consecutive month of year-over-year increases in Ada County.  As you can see in the graph below, January & February saw modest (relatively) improvements with 20% and 27% increases.  May and October of last year saw new home sales more than the double previous year.

Year-Over-Year Increase in New Home Sales

One of the driving factors for the increase in demand for new homes in the Boise area is the relatively low supply of homes for sale.  During March 2013, there were just 1,787 homes for sale in Ada County.  Compared to inventory in previous years, this

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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 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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Eagle ID real estate sales in 2012 have gone up compared to 2011.  For example, this past December there were 37 home sales.  In December 2011, there were just 26, a difference of about 30%.  The chart below shows sales for real estate in Eagle Idaho over the past two years.  With a few exceptions, each month in 2012 outperformed sales from the same month in 2011.

Eagle ID Real Estate Sales 2011 vs. 2012

Another change in the Eagle ID real estate market has been the amount of new home sales.  The past six months have been particularly strong, especially October which had 21 new home sales.  That's an 86% climb from October 2011 when there were just 3 new homes sold.  Similarly, December 2012 saw 11 more new homes sold than December 2011.  Overall there were 113 new homes sold in 2012 and

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Meridian ID bank-owned homes are down significantly compared to 2011.  In fact, December 2012 posted the lowest number this past year for REO and HUD properties with 9.  That's roughly a 72% drop from the year before.  Most months in 2012 had fewer than 20 bank-owned sales.  The chart below shows the dramatic change for sales of bank-owned homes in Meridian since 2011.  Each month in 2012 posted significantly lower numbers than the same month in 2011.

Meridian Bank-Owned & Hud Homes 2011 vs. 2012

Of the 9 Meridian ID bank-owned homes sold in December, none were in the same subdivision.  However, 6 of them were sold in Northwest Meridian.  Of the remaining three, 2 properties were sold in Northeast Meridian and the remaining one was in Southeast Meridian. The prices of those homes ranged from

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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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The median price of homes has gone up in the Meridian Idaho real estate market, especially when compared to one year ago.  For instance, the median price during the month of November was $185,000.  During Nov. 2011 the median price was $157,590--nearly $30,000 less than this year.  What's more, this year the median price for real estate in Meridian Idaho has been climbing since January.  In comparison, in 2011 the median price was relatively steady throughout the year.  The chart below also shows that 10 out of 11 months this year have outperformed the same months from one year ago.

Meridian Idaho Median Sold Price 2011 vs. 2012

Likewise, most months this year also had more home sales in the Meridian Idaho real estate market compared to last year.  And even though 4 months underperformed

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