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Boise Real Estate Sales – December 2011

kgeselle — Thu, 12 Jan 2012 22:21:06 +0000

Sales continue to be strong in the Boise real estate market. In December, 467 single family homes sold. Although that is down about 10% from December 2010, the good news comes from the increase in median price and average price. December median price is up 1.22% over December 2010 and average price is up 3.47% in the same time period.
Days on Market is continuing to drop – 86 days in December 2011 compared to 94 days in 2010.
My daily experience is telling me that some price points – less than $150,000 – have a pent up demand as most homes in that price range are commanding multiple offers. There also seems to be a lack of single level homes in the Meridian area and those coming onto the market are selling within just a few days.
If you’re an investor or have been thinking that you’d like to acquire some rental properties, it isn’t too late. It is still possible to find rental properties that can cash flow in this tight rental market. If you’d like additional information about purchasing rental properties, give me a call.

Sales numbers broken down by area:
Boise
North – 18 homes with a median price of $210,000
Northeast – 9 homes with a median price of $387,646
Southeast – 38 homes with a median price of $164,100
Bench – 35 homes with a median price of $106,900
South – 26 homes with a median price of $130,000
Southwest – 51 homes with a median price of $135,990
West – 28 homes with a median price of $130,000
West/Garden City – 31 homes with a median price of $120,000
Garden City – 3 homes with a median price of $339,000
Northwest – 34 homes with a median price of $169,900
Meridian
SE Meridian – 15 homes with a median price of $216,000
SW Meridian – 7 homes with a median price of $308,000
NE Meridian – 45 homes with a median price of $168,000
NW Meridian – 58 homes with a median price of $154,000

Eagle – 30 homes with a median price of $333,000

Star – 13 homes with a median price of $170,000

Kuna – 26 homes with a median price of $112,000

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – November 2011

kgeselle — Tue, 13 Dec 2011 23:08:25 +0000

Boise real estate sales are continuing to hold up well with 471 sales in November 2011 compared to 438 sales in November of the prior year. Year-to-date sales are also ahead of 2010 – 5763 homes sold through November 2011.

The median price of homes sold continues to be lower than a year ago although most real estate agents would agree that we’ve seen the bottom for prices and seen appreciation in some areas and in some price points. It would appear that short sales and foreclosures continue to skew the numbers somewhat.

New construction is continuing to look better with 67 new homes sold in November – 22 more homes than in November 2010.

Sales numbers broken down by area (comparison with October 2011):
Boise
North – 26 (32) homes with a median price of $212,500 ($225,000)
Northeast – 17 (17) homes with a median price of $319,675 ($336,900)
Southeast – 35 (33) homes with a median price of $155,000 ($170,000)
Bench – 23 (32) homes with a median price of $109,900 ($93,600)
South – 17 (15) homes with a median price of $169,000 ($139,000)
Southwest – 39 (45) homes with a median price of $138,000 ($140,100)
West – 16 (25) homes with a median price of $109,000 ($124,000)
West/Garden City – 52 (56) homes with a median price of $124,900 ($135,250)
Garden City – 1 (3) homes with a median price of $62,900 ($160,150)
Northwest – 33 (27) homes with a median price of $213,500 ($179,900)

Meridian
SE Meridian – 14 (22) homes with a median price of $202,500 ($195,000)
SW Meridian – 9 (7) homes with a median price of $253,750 ($317,500)
NE Meridian – 51 (47) homes with a median price of $160,800 ($172,500)
NW Meridian – 65 (62) homes with a median price of $140,000 ($147,000)

Eagle – 29 (41) homes with a median price of $282,900 ($257,300)

Star – 13 (13) homes with a median price of $137,000 ($169,900)

Kuna – (31) 31 homes with a median price of $108,000 ($105,000)

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – October 2011

kgeselle — Sun, 13 Nov 2011 01:59:42 +0000

Real estate sales in the Boise area continue to be strong with 514 homes sold in October 2011 compared to 456 in October 2010. Of the 514 homes sold, 79 homes were new construction with most sales happening in northeast and southwest Boise and northeast, northwest and southeast Meridian.
Year-to-date sales numbers are also looking solid with 5271 homes sold in 2011 – up from 4897 homes in 2010.
Active listings continues to trend lower with 2280 homes for sale – down from active 2721 listing in 2010.
Days on market also is looking favorable – 75 days compared to 90 days in 2010.

Sales numbers broken down by area:
Boise
North – 32 homes with a median price of $225,000
Northeast – 17 homes with a median price of $336,900
Southeast – 33 homes with a median price of $170,000
Bench – 32 homes with a median price of $93,600
South – 15 homes with a median price of $139,000
Southwest – 45 homes with a median price of $140,100
West – 25 homes with a median price of $124,000
West/Garden City – 56 (57) homes with a median price of $135,250 ($142,000)
Garden City – 3 homes with a median price of $160,150
Northwest – 27 homes with a median price of $179,900

Meridian
SE Meridian – 22 homes with a median price of $195,000
SW Meridian – 7 homes with a median price of $317,500
NE Meridian – 47 homes with a median price of $172,500
NW Meridian – 62 homes with a median price of $147,000

Eagle – 41 homes with a median price of $257,300

Star – 13 homes with a median price of $169,900

Kuna – 31 homes with a median price of $105,000

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – September 2011

kgeselle — Tue, 11 Oct 2011 20:24:01 +0000

Real estate is still moving in the Boise area. The numbers for September 2011 beat the numbers for September 2010 by almost 12% – 554 sales in 2011 compared to 489 for 2010. The year-to-date numbers are also outshining 2010 by 320 sales. And the Days On Market number is down considerably from 81 days in 2010 to 73 days in 2011.

Of the homes sold last month, 475 were existing homes and 79 were new construction.

Sales numbers broken down by area (August 2011):

Boise

North – 30 (28) homes with a median price of $217,000 ($244,888)
Northeast – 23 (19) homes with a median price of $319,838 ($335,000)
Southeast – 36 (38) homes with a median price of $173,942 ($173,579)
Bench – 35 (54) homes with a median price of $109,000 ($99,900)
South – 10 (17) homes with a median price of $142,700 ($165,500)
Southwest – 36 (66) homes with a median price of $150,313 ($165,500)
West – 32 (29) homes with a median price of $100,050 ($131,000)
West/Garden City – 56 (57) homes with a median price of $135,250 ($142,000)
Garden City – 1 (2) homes with a median price of $52,500 ($167,000)
Northwest – 40 (35) homes with a median price of $145,000 ($164,000)

Meridian

SE Meridian – 25 (24) homes with a median price of $215,000 ($189,365)
SW Meridian – 7 (5) homes with a median price of $295,000 ($252,000)
NE Meridian – 43 (50) homes with a median price of $158,000 ($176,100)
NW Meridian – 90 (80) homes with a median price of $139,900 ($144,900)

Eagle – 39 (47) homes with a median price of $271,500 ($330,000)

Star – 11 (22) homes with a median price of $137,409 ($165,000)

Kuna – 40 (31) homes with a median price of $97,500 ($121,000)

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – August 2011

kgeselle — Mon, 12 Sep 2011 14:32:40 +0000

Almost every day someone asks me about the state of the Boise real estate market. Without exception, I say that we “bottomed out” several months ago and are moving sideways in most areas and even seeing appreciation in other areas. This month’s sales number confirm that statement. The median price increased in most areas (represented below) – in some areas, it increased significantly. My statement is also confirmed in the number of multiple offer situations my buyers have found themselves in. I continue to believe that we’ve seen the worst and that things are improving and have been for several months.

Sales in the month of August climbed dramatically year over year from 421 sales in 2010 to 604 sales in 2011. The number of active listings has also declined significantly from 3094 listings in 2010 to just 2493 listing in 2011. That’s just a 4 month supply. Average days on market declined from 90 days to 81 days.

Sales numbers broken down by area:

Boise

North – 28 homes with a median price of $244,888
Northeast – 19 homes with a median price of $335,000
Southeast – 38 homes with a median price of $173,579
Bench – 54 homes with a median price of $99,900
South – 17 homes with a median price of $165,500
Southwest – 66 homes with a median price of $165,500
West – 299 homes with a median price of $131,000
West/Garden City – 57 homes with a median price of $142,000
Garden City – 2 homes with a median price of $167,000
Northwest – 35 homes with a median price of $164,000

Meridian

SE Meridian – 24 homes with a median price of $189,365
SW Meridian – 5 homes with a median price of $252,000
NE Meridian – 50 homes with a median price of $176,100
NW Meridian – 80 homes with a median price of $144,900

Eagle – 47 homes with a median price of $330,000

Star – 22 homes with a median price of $165,000

Kuna – 31 homes with a median price of $121,000

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – July 2011

kgeselle — Thu, 11 Aug 2011 20:35:23 +0000

Boise real estate is continuing to move. The number of homes sold dipped last month – from 617 in June to 563 in July. The number of “active” listings also dipped to 2560, the lowest its been since April.

From a Realtor’s perspective, it appears that home prices are beginning to move up as it’s becoming increasing difficult to find homes in the less than $100,000 price range – something that was fairly easy only 6 – 9 months ago. I’ve also noticed that some of the bank-owned properties are being renovated with new paint and carpet to make them more appealing to first time home buyers.

Investors are out buying properties to convert to rentals. Given the rental market’s need for additional housing due to homeowners becoming renters, rents are higher than they’ve been in several years.

Sales numbers broken down by area:

Boise

North – 28 homes with a median price of $233,500
Northeast – 13 homes with a median price of $360,600
Southeast – 48 homes with a median price of $161,820
Bench – 36 homes with a median price of $90,000
South – 19 homes with a median price of $163,500
Southwest – 52 homes with a median price of $149,900
West – 21 homes with a median price of $128,000
West/Garden City – 71 homes with a median price of $120,000
Garden City – 2 homes with a median price of $100,000
Northwest – 40 homes with a median price of $174,900

Meridian

SE Meridian – 26 homes with a median price of $203,000
SW Meridian – 9 homes with a median price of $340,000
NE Meridian – 43 homes with a median price of $184,000
NW Meridian – 63 homes with a median price of $165,000

Eagle – 43 homes with a median price of $292,305

Star – 16 homes with a median price of $165,000

Kuna – 33 homes with a median price of $93,885

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – June 2011

kgeselle — Mon, 11 Jul 2011 17:36:12 +0000

Boise real estate is continuing to move with 617 homes sold in the month of June 2011. That slightly above the total sales for May 2011 and slightly below the number of homes sold in June 2010 with big jumps in the number of sales in North, Northeast and West Boise. And again this month the number of active listings dropped – from 2655 in May to 2597 this month. As the inventory numbers continue to drop, we should see a rebound in home pricing.

Sales numbers broken down by area (numbers in parenthesis are for May 2011):

Boise

North – 48 (23) homes with a median price of $219,000 ($172,100)
Northeast – 25 (15) homes with a median price of $301,700 (330,459)
Southeast – 35 (37) homes with a median price of $203,900 ($160,000)
Bench – 35 (39) homes with a median price of $82,000 ($93,000)
South – 15 (24) homes with a median price of $143,000 ($148,540)
Southwest – 49 (54) homes with a median price of $140,795 ($145,000)
West – 37 (21) homes with a median price of $122,500 ($115,000)
West/Garden City – 50 (58) homes with a median price of $130,000 ($115,000)
Garden City – 2 (1) homes with a median price of $91,800 ($93,000)
Northwest – 42 (42) homes with a median price of $154,900 ($144,900)

Meridian

SE Meridian – 22 (24) homes with a median price of $175,500 ($185,000)
SW Meridian – 7 (5) homes with a median price of $280,000 ($300,000)
NE Meridian – 44 (49) homes with a median price of $181,000 ($153,000)
NW Meridian – 91 (96) homes with a median price of $160,000 ($143,000)

Eagle – 50 (49) homes with a median price of $299,950 ($292,400)

Star – 17 (22) homes with a median price of $150,799 ($138,300)

Kuna – 48 (33) homes with a median price of $99,000 ($90,640)

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – May 2011

kgeselle — Sat, 18 Jun 2011 20:49:26 +0000

Homes are continuing to sell in the Ada County market. In May, 592 homes sold, down slightly from 2010 when 623 homes sold. The most telling number though is the number of active listings – 2655 in April 2011 compared to 3202 homes in April 2010. Inventory is going down and prices are going up – especially in the lower priced homes.

Multiple offers are common on homes priced under $130,000. Another agent told me about a listing in his office that sold for $115,000 – $15,000 above asking price. That’s been my experience also – multiple offers with the winning offer priced 10-15% above asking price. That tells me that prices in most areas have stabilized. Note the median prices below in each area. Of the 17 areas that followed, 10 areas show an increased median price.

Sales numbers broken down by area:

Boise

North – 23 (24) homes with a median price of $172,100 ($155,000)
Northeast – 15 (8) homes with a median price of $330,459 (374,661)
Southeast – 37 (29) homes with a median price of $160,000 ($200,000)
Bench – 39 (42) homes with a median price of $93,000 ($85,000)
South – 24 (12) homes with a median price of $148,540 ($144,000)
Southwest – 54 (46) homes with a median price of $145,000 ($125,000)
West – 21 (38) homes with a median price of $115,000 ($105,000)
West/Garden City – 58 (58) homes with a median price of $115,000 ($145,000)
Garden City – 1 (1) homes with a median price of $93,000 ($224,900)
Northwest – 42 (31) homes with a median price of $144,900 ($150,000)

Meridian

SE Meridian – 24 (21) homes with a median price of $185,000 ($180,000)
SW Meridian – 5 (10) homes with a median price of $300,000 ($220,000)
NE Meridian – 49 (41) homes with a median price of $153,000 ($145,000)
NW Meridian – 96 (83) homes with a median price of $143,000 ($140,000)

Eagle – 49 (33) homes with a median price of $292,400 ($290,000)

Star – 22 (15) homes with a median price of 138,300 ($144,900)

Kuna – 33 (44) homes with a median price of $90,640 ($100,000)

HOMES SOLD BROKEN DOWN BY SALES PRICE

Purchase price ———–# sold ——- % of total
$69,999 and under —- 33 — 5.57%
$70,000 – $89,999 —- 60 — 10.14%
$90,000 – $99,999 —- 32 — 5.41%
$100,000 – $119,999 — 83 — 13.85%
$120,000 – $159,999 — 135 — 20.61%
$160,000 – $199,999 — 85 — 11.82%
$200,000 – $249,999 — 57 — 8.28%
$250,000 – $299,999 — 44 — 5.57%
$300,000 – $399,999 — 37 — 4.05%
$400,000 – $499,999 — 13 — 1.86%
$500,000 and over —- 12 — 2.03%

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – April 2011

kgeselle — Fri, 20 May 2011 22:26:45 +0000

April 2011 home sales were down significantly from April 2010 but homes are still selling in Ada County. Total home sales for April 2011 were 536 homes.

The most telling number however is the number of active listings - down from 3106 homes in April 2010 to 2133 homes in April 2011. That’s just 4 months worth of inventory (total active listings divided number of homes sold). That has been obvious to me – every offer that I have put together for my buyer clients has been in a multiple offer situation with the final sales price above – sometimes significantly above – the asking price. Homes in good condition priced in the less than $120,000 range are selling like hotcakes.

So here are the numbers broken down by area and then by sales price. I’ve left in the March numbers so you can compare them to the April numbers.

Sales numbers broken down by area:

Boise

North – 24 (20) homes with a median price of $155,000 ($250,000)
Northeast – 8 (17) homes with a median price of $374,661 ($246,000)
Southeast – 29 (36) homes with a median price of $200,000 ($153,000)
Bench – 42 (32) homes with a median price of $85,000 ($87,501)
South – 12 (15) homes with a median price of $144,000 ($125,000)
Southwest – 46 (43) homes with a median price of $125,000 ($133,900)
West – 38 (29) homes with a median price of $105,000 ($101,000)
West/Garden City – 58 (60) homes with a median price of $145,000 ($119,000)
Garden City – 1 (0) homes with a median price of $224,900 ($0)
Northwest – 31 (47) homes with a median price of $150,000 ($164,000)

Meridian

SE Meridian – 21 (15) homes with a median price of $180,000 ($155,000)
SW Meridian – 10 (9) homes with a median price of $220,000 ($330,000)
NE Meridian – 41 (30) homes with a median price of $145,000 $136,500)
NW Meridian – 83 (75) homes with a median price of $140,000 ($140,000)

Eagle – 33 (33) homes with a median price of $290,000 ($275,000)

Star – 15 (13) homes with a median price of $144,900 ($160,655)

Kuna – 44 (38) homes with a median price of $100,000 ($92,700)

HOMES SOLD BROKEN DOWN BY SALES PRICE

Purchase price ———–# sold ——- % of total
$69,999 and under —- 41 — 7.65%
$70,000 – $89,999 —- 64 — 11.94%
$90,000 – $99,999 —- 28 — 5.04%
$100,000 – $119,999 — 74 — 13.25%
$120,000 – $159,999 — 130 — 21.83%
$160,000 – $199,999 — 69 — 10.26%
$200,000 – $249,999 — 53 — 7.28%
$250,000 – $299,999 — 28 — 4.10%
$300,000 – $399,999 — 28 — 3.54%
$400,000 – $499,999 — 11 — 1.68%
$500,000 and over —- 10 — 1.68%

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – March 2011

kgeselle — Mon, 18 Apr 2011 19:16:01 +0000

Way to go, Ada County! Sales were up significantly this month with 512 homes sold during the month of March. That’s up from 390 homes last month. Based on my recent experiences, buyers are coming out looking for good values and they’re finding it in the Boise market. Most of the recent offers I submitted on behalf of my buyers are competing with offers from other buyers.

And again, total active listings is down significantly year over year – 2201 homes in 2011 compared to 3102 homes in 2010.

I’ve left in February’s numbers so you can compare them to March’s.

Sales numbers broken down by area:

Boise

North – 20 (18) homes with a median price of $250,000 ($225,000)
Northeast – 17 (10) homes with a median price of $246,000 ($323,515)
Southeast – 36 (30) homes with a median price of $153,000 ($199,500)
Bench – 32 (26) homes with a median price of $87,501 ($100,000)
South – 15 (13) homes with a median price of $125,000 ($149,900)
Southwest – 43 (44) homes with a median price of $133,900 ($135,000)
West – 29 (16) homes with a median price of $101,000 ($100,900)
West/Garden City – 60 (38) homes with a median price of $119,000 ($122,000)
Garden City – 0 (1) homes with a median price of $0 ($84,500)
Northwest – 47 (22) homes with a median price of $164,000 ($151,900)

Meridian

SE Meridian – 15 (15) homes with a median price of $155,000 ($190,000)
SW Meridian – 9 (8) homes with a median price of $330,000 ($269,000)
NE Meridian – 30 (29) homes with a median price of $136,500 ($175,000)
NW Meridian – 75 (52) homes with a median price of $140,000 ($137,134)

Eagle – 33 (26) homes with a median price of $275,000 ($234,500)

Star – 13 (15) homes with a median price of $160,655 ($155,000)

Kuna – 38 (27) homes with a median price of $92,700 ($117,000)

HOMES SOLD BROKEN DOWN BY SALES PRICE

Purchase price ———–# sold ——- % of total
$69,999 and under —- 37 (23) — 7.23% (5.90%)
$70,000 – $89,999 —- 55 (26) — 10.74% (6.67%)
$90,000 – $99,999 —- 36 (20) — 7.03% (5.13%)
$100,000 – $119,999 — 62 (60) — 11.33% (15.38%)
$120,000 – $159,999 — 134 (88) — 21.88% (22.56%)
$160,000 – $199,999 — 62 (45) — 10.35% (11.54%)
$200,000 – $249,999 — 48 (44) — 7.81% (11.28%)
$250,000 – $299,999 — 33 (19) — 4.49% (4.87%)
$300,000 – $399,999 — 29 (17) — 3.91% (4.36%)
$400,000 – $499,999 — 10 (0) — 1.56% (0%)
$500,000 and over —- 1 (2) — .98% (0.51%)

Statistics provided by Intermountain Multiple Listing Service