Tagged : Market Statistics

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The Boise real estate market had 153 homes sales in February '09, down from 175 in January.  Roughly 40% homes sales were distressed properties - approximately 17 short sales and 44 bank foreclosures.

A year ago, the Boise real estate market  had 216 home sales, two years ago 310, and 359 three years ago (2/06).  Currently there's 2042 homes for sale in Boise.  At the February sales rate, that would be 13.3 months of supply.

The average sold price in Boise was $193,912 and the median $172,000.   Most of the real estate sales in Boise are occurring in area 0550 and 0650.  The areas with the least amount of supply are 0300, 0400, and 0500.

Boise Real Estate 2/09 Sold # For Sale Months Supply
North Boise - 0100 17 261
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The Star Idaho real estate market had a total of 12 sales last month, down from 16 in December and up from 9 in November.  About 85% of the Star real estate sales were short sales or bank foreclosures.  By comparison, short sales and bank foreclosures only account for about 24% in the Boise real estate market.

Of the 12 home sales, 4 were new construction and 8 were existing homes.  The average and median home price in Star was up for new homes but down for existing.  Five of the real estate sales were homes on lots between .75 and 1.01 acres.

Star Idaho Real Estate Nov-08 Dec-08 Jan-09
Star Idaho New Homes 1 6 4
Average  Home Price  $ 143,000  $ 234,315  $ 267,750
Median  Home Price  $
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The Boise Idaho real estate market had 175  home sales during January 2009.  The average home price was just under $202,000 and the median was $179,450.  Most of the Boise real estate activity was in SE Boise, West Boise, and SW Boise.  The lowest day's on market* was found in South Boise.

Boise Idaho short sales made up about 8.5% of the real estate sales.  Boise bank foreclosures (REO's) made up about 15.5%.

Boise Idaho Real Estate Jan-09
Total Boise Real Estate Sales 175
 
Boise Real Estate Sold Volume Average Median DOM
North Boise - 0100 11 $2,471,500 $224,682 $187,500 84
NE Boise - 0200 1 $395,000 $395,000 $395,000 224
SE Boise - 0300
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Here's the Meridian Idaho real estate sales for the fourth quarter 2008.  NW & NE Meridian has the largest market share of home sales- not only in Meridian, but also in Ada County (along with area 0550).   SW Meridian has the smallest market share, but also the least number of homes for sale (45 homes).

Based on the sales rate in December, and the current number of homes for sale:

  • SE Meridian has 11.3 months of supply.
  • NE Meridian has 11.2 months of supply.
  • NW Meridian has 14 months of supply.
  • SW Meridian N/A because no sales in December.
SE Meridian Real Estate Oct-08 Nov-08 Dec-08
New Homes Sales 6 7 11
Existing Home Sales 11 2 4
       
SW Meridian Real
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The Eagle Id real estate market had 17 home sales for December '08.  There's currently 338 homes for sale in Eagle, ID resulting in about 20 months of supply.  By comparison, Ada County had about 12.5 months of supply during the same period.

15 of the 17 home sales were under $500,000.  The average new home price was $537,500 and existing $255,306.  Three of the home sales were Eagle Idaho Short Sales.

Eagle ID Real Estate Dec-08
New Home Sales 2
Average Eagle Home Price  $  537,500
Median Eagle Home Price  $  550,000
Existing Homes Sales 15
Average Eagle Home Price  $  255,306
Median Eagle Home Price  $  229,500

Search Eagle Idaho Real Estate using my MLS search.

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The Ada County real estate market had 13% more home sales than last month but still down about 16% from a year ago.  Inventory levels continue to decline and in December reached the lowest point since June 2006 with only 3801 homes for sale in Boise, Meridian, Star, Kuna, and Eagle, Idaho.  With 3801 homes for sale in Ada County and 304 sales, December had a 12.5 month absorption rate.

Most real estate sales continue to be in the lower price ranges:

  • 4.6% under $119,999
  • 32.6% between $120,000 - $159,999
  • 25.7% between $160,000 - $199,999
  • 14.8% between $200,000 - $249,999.
  • 8.2% between $250,000 - $299,999.
  • 9.9% between $300,000 - $399,999.
  • 4.3% over $400,000

South West Boise/Meridian (MLS area 0550) had the largest market

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The Boise real estate market had a 19% increase in home sales over November '08.  There were 181 home sales with an average price of $206,252 and a median of $175,500.

The lowering interest rates and home prices have brought more affordability and activity in the market.  As of today, interest rates for a 30-year fixed-rate are at about 4.875% (APR 5.011%).

The other factor to the increase in Boise real estate sales are the deals.  Home prices have come down and negotiation is in the buyer's favor. Boise short sales and Boise REOs made up about 24% of the real estate sales.

Search all the Boise Idaho real estate on my MLS search.

Boise Real Estate Dec-08
Total Boise Real Estate Sales 181
   
Boise Average
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The Ada County real estate market had a dip in both sales and the number of homes on the market.  Overall inventory is down 11%, similar to the previous 6 months.  In terms of the the number of homes sold, sales are down about 32% compared to the same time a year ago.  Ada County is comprised on Boise, Meridian, Eagle, Star, and Kuna Idaho.

Search Ada County Real Estate.

Overall Home Sales Nov-08
Total Listings 4084
Sold Listings 265
Median Home Price  $  185,000
Average Home Price  $  216,994
   
Existing Home Sales Nov-08
Total Listings 3155
Sold Listings 199
Median Home Price  $  186,000
Average Home Price  $  213,558
   
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Here's the Meridian Idaho real estate stats for November 2008.  You can find more real estate stats here.

If you would like to know specifics on sold homes in a particular subdivision just send me an email.  If you would like to know how much your Meridian home is worth you can request a free home valuation.

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SE Meridian Real Estate Nov-08 Ada County Market %
New Homes Sales 7 10.77%
Average  Home Price  $ 202,294  
Median  Home Price  $ 234,724  
Existing Home Sales 2 1%
Average  Home Price  $ 299,950  
Median  Home Price  $ 300,000  
     
SW Meridian Real Estate Nov-08 Ada County Market %
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The Boise Idaho real estate market had 30% less sales in November compared to a year ago (Boise MLS).  In November 2008, there were 152 home sales compared to 216 in November 2007.  Last month, there were 240 home sales.

The average sold price for Boise Idaho was $245,068, off just 3% compared to a year ago.  The median home price was $189,250.

Here are the Boise Idaho real estate stats for November 2008:

Boise Idaho Real Estate Nov-08 Nov-07 % Change
Total Boise Idaho Homes Sold 152 216 -29.63%
       
Boise Average List Price  $   256,040  $   266,655 -3.98%
Boise Average Sold Price  $   245,068  $   255,006 -3.90%
       
Boise Median
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