Tagged : Market Statistics

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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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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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Boise ID real estate sales remain strong as we near the end of the year. In fact, this year's total has already surpassed last year in sales. With one month of data left to collect, the total for 2012 so far is 3,612. Home sales for 2011 were just under that, at 3,588. Still, the margin will be wider once December numbers are gathered. The chart below shows the total sales each year since 2009. Sales for the Boise ID real estate market have consistently surpassed the previous year.

Boise ID Real Estate Sales 2009 - 2012

There were 316 Boise real estate sales this past November. And although numbers dipped a bit from October (342), a few areas in the Boise ID real estate market saw sales climb. SE Boise and the W. Boise-Garden City area posted higher numbers in November than Oct., 44 and

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Foreclosures have dropped once again in the Eagle Idaho real estate market.  October 2012 posted the second lowest numbers we've seen all year at 9.6%.  As you can see in the graph below, the numbers for foreclosures in Eagle are varied this year, anywhere from 8.8% to 46.4%.  However, they have consistently stayed under 20% since April and they've steered clear of last year's numbers.  The only month this year where Eagle Idaho real estate saw lower foreclosure numbers than October was July (8.8%).

Eagle Foreclosure Rate 2011 vs. 2012

Short sales are the predominant type of foreclosure sale in Eagle.  So far this year, there have been 50 short sales in Eagle ID compared to 23 bank-owned homes.  Banbury Meadows and Brookwood subdivisions have had the highest number of short sales thus

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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 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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The Boise Idaho real estate market is improving—at least most Americans think so. According to a National Housing Survey conducted by Fannie Mae in June 2012, 73% of the American public thinks that now is a good time to buy a home. In addition, 35% of the people surveyed say they expect home prices to rise in the next year.

The Boise Idaho real estate market is backing up that optimism. In an article published in the July 17, 2012 edition of the Realty Times Market Conditions, Paula K. Stern notes that median sale prices of single family homes sold in the Boise ID real estate market for May and June 2012 were markedly higher than 2011. The number of pending sales for June 2012 were also higher than June 2011. And even though the Boise Idaho real estate

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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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