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Boise Real Estate Sales – April 2012

kgeselle — Mon, 14 May 2012 15:44:18 +0000

Real estate sales in Ada County continue to be strong with 645 homes sold in April 2012 compared to 551 homes sold in April 2011 – a 17% + increase year over year. Inventory continues to go down with total active residential listings down from 2625 in 2011 to 1993 in 2012. That’s just a 3 month supply of homes available. Historically, a 6 month supply of inventory is considered a “healthy” market.

The reduction in inventory has affected pricing with the median home price rising to $158,777 in April 2012 from $133,000 in April 2011 and average home price up over 13% – $187,928 in April 2012 vs. $165,392 in April 2011. In addition, days on market – the number of days between the listing date of a home and the date it receives an accepted offer is down from 91 in April 2012 to 70 in April 2012.

So what does this all mean to you the homeowner? For those of you who would like to sell, home prices are going up. If you’ve been thinking about selling, give me a call and I’ll put together a free-of-charge comparative market analysis for you so you can see your home’s current market value.

For those of you who would like to buy, there is no better time With home prices on the rise and interest rates still hovering around 4%, you still have time to find that perfect home. Let me help you explore the possibilities of home ownership.

Here’s the breakdown of sales numbers by area:
Boise
North – 35 homes with a median price of $192,000
Northeast – 16 homes with a median price of $300,549
Southeast – 48 homes with a median price of $156,000
Bench – 35 homes with a median price of $115,000
South – 18 homes with a median price of $159,500
Southwest – 63 homes with a median price of $162,000
West – 32 homes with a median price of $114,500
West/Garden City – 51 homes with a median price of $135,000
Garden City – 2 homes with a median price of $127,900
Northwest – 47 homes with a median price of $170,997
Meridian
SE Meridian – 14 homes with a median price of $241,250
SW Meridian – 5 homes with a median price of $268,000
NE Meridian – 68 homes with a median price of $170,195
NW Meridian – 93 homes with a median price of $145,000

Eagle – 49 homes with a median price of $250,000

Star – 25 homes with a median price of $172,000

Kuna – 45 homes with a median price of $105,060

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – March 2012

kgeselle — Wed, 18 Apr 2012 17:40:10 +0000

Sales continue to be strong in the Boise real estate market. March 2012 numbers show definitively that we’ve made the turn and home values in Ada County are beginning to increase. Although the actual number of homes sold in 2012 was slightly below 2011 levels – 524 homes sold in 2012 compared to 527 in 2011 – many other statistics show a clearer picture:

Year-To-Date sales in Ada County show the strength of the market – 1134 homes sold so far in 2012 compared to 918 homes sold in the same period in 2011.
The median price of homes sold during March 2012 was $153,950 compared to $136,000 in 2011
The average price of homes sold during March 2012 was $178,893 compared to $163,623 in 2011
Day on Market dropped from 95 days in 2011 to 75 days in 2012
This month I’ve given you the numbers for March with February and January in parenthesis, (February, January), for those of you who like a longer term perspective.

Sales numbers broken down by area:
Boise
North – 24 (29,24) homes with a median price of $198,200 ($240,000, $209,900)
Northeast – 13 (12,8) homes with a median price of $300,000 ($304,950, $285,000)
Southeast – 39 (39,16) homes with a median price of $162,500 ($159,500, $219,500)
Bench – 26 (25,31) homes with a median price of $103,045 ($98,500, $86,600)
South – 10 (13,14) homes with a median price of $128,700 ($152,000, $118,000)
Southwest – 56 (50,45) homes with a median price of $138,950 ($157,250, $137,000)
West – 24 (23,22) homes with a median price of $115,000 ($106,900, $114,900)
West/Garden City – 53 (40,33) homes with a median price of $125,000 ($122,000, $135,000)
Garden City – 2 (1,2) homes with a median price of $175,668 ($122,000, $96,000)
Northwest – 31 (31,32) homes with a median price of $152,500 ($181,000, $150,000)

Meridian
SE Meridian – 28 (18,11) homes with a median price of $189,750 ($223,000, $166,000)
SW Meridian – 6 (5,2) homes with a median price of $147,400 ($262,500, $126,300)
NE Meridian – 60 (31,27) homes with a median price of $174,950 ($172,000, $160,000)
NW Meridian – 77 (48,39) homes with a median price of $153,000 ($151,500, $159,900)

Eagle – 35 (34,30) homes with a median price of $257,000 ($307,125, $299,999)

Star – 14 (9,16) homes with a median price of $155,500 ($158,990, $176,900)

Kuna – 27 (32,29) homes with a median price of $95,100 ($117,250, $101,500)

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – February 2012

kgeselle — Wed, 14 Mar 2012 15:07:34 +0000

The numbers are out and February 2012 was a good month for real estate sales – 439 homes sold compared to 387 homes sold in 2011. That’s an increase of 13.44% year over year. More good news:

February’s median price is up substantially over February 2011 – $158,000 in 2012 compared to $149,597 in 2011.
Average price for 2012 at $185,404 compared to 2011′s $171,419
Days on Market down substantially from 96 days in 2011 to 83 days in 2012

I’ve included the numbers from January 2012 (in parenthesis) this month.

Sales numbers broken down by area:
Boise
North – 29 (24) homes with a median price of $240,000 ($209,900)
Northeast – 12 (8) homes with a median price of $304,950 ($285,000)
Southeast – 39 (16) homes with a median price of $159,500 ($219,500)
Bench – 25 (31) homes with a median price of $98,500 ($86,600)
South – 13 (14) homes with a median price of $152,000 ($118,000)
Southwest – 50 (45) homes with a median price of $157,250 ($137,000)
West – 23 (22) homes with a median price of $106,900 ($114,900)
West/Garden City – 40 (33) homes with a median price of $122,000 ($135,000)
Garden City – 1 (2) homes with a median price of $122,000 ($96,000)
Northwest – 31 (32) homes with a median price of $181,000 ($150,000)

Meridian
SE Meridian – 18 (11) homes with a median price of $223,000 ($166,000)
SW Meridian – 5 (2) homes with a median price of $262,500 ($126,300)
NE Meridian – 31 (27) homes with a median price of $172,000 ($160,000)
NW Meridian – 48 (39) homes with a median price of $151,500 ($159,900)

Eagle – 34 (30) homes with a median price of $307,125 ($299,999)

Star – 9 (16) homes with a median price of $158,990 ($176,900)

Kuna – 32 (29) homes with a median price of $117,250 ($101,500)

Statistics provided by Intermountain Multiple Listing Service

Boise Real Estate Sales – January 2012

kgeselle — Sat, 18 Feb 2012 03:21:21 +0000

Upon first glance, the numbers this month appear to be disappointing – down from 467 homes sold in December 2011 and down from 471 in November 2011. However, if you look to the number of homes sold in January 2011, the numbers look more encouraging. In January 2012, 381 homes were sold in Ada County – up from 345 in January 2011. January is historically a slow month due to the holiday season from November through the New Year. So taken in that context, the numbers are still encouraging.

Days on Market continue to decrease year over year – down from 94 in January 2011 to 90 days in January 2012. With only 1976 “active” listings, that’s less than 6 months of inventory on hand.

Sales numbers broken down by area:
Boise
North – 24 homes with a median price of $209,900
Northeast – 8 homes with a median price of $285,000
Southeast – 16 homes with a median price of $219,500
Bench – 31 homes with a median price of $86,600
South – 14 homes with a median price of $118,000
Southwest – 45 homes with a median price of $137,000
West – 22 homes with a median price of $114,900
West/Garden City – 33 homes with a median price of $135,000
Garden City – 2 homes with a median price of $96,000
Northwest – 32 homes with a median price of $150,000
Meridian
SE Meridian – 11 homes with a median price of $166,000
SW Meridian – 2 homes with a median price of $126,300
NE Meridian – 27 homes with a median price of $160,000
NW Meridian – 39 homes with a median price of $159,900
Eagle – 30 homes with a median price of $299,999

Star – 16 homes with a median price of $176,900

Kuna – 29 homes with a median price of $101,500

Statistics provided by Intermountain Multiple Listing Service

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