Boise Real Estate: Now vs. Six Months Ago
Most real estate statistics, including those I post here, compare current data to one year prior.
I thought it would be interesting to compare our current (now) Boise real estate market to the middle of last year (then).
Here’s what I found:
Available Listings
- Then: 2,586
- Now: 2047
- % Change: -20.8%
Average Asking Price
- Then: $238,544
- Now: $243,555
- % Change: +2.1%
Median Asking Price
- Then: $179,000
- Now: $179,000
- % Change: None
Pending Sales
- Then: 934
- Now: 713
- % Change: -23.7% (normal seasonal fluctuation)
Closed Sales
- Then: 640
- Now: 487
- % Change: -23.9% (normal seasonal fluctuation)
Average Selling Price
- Then: $184,635
- Now: 178,934
- % Change: -3.1%
Median Selling Price
- Then: $150,000
- Now: $145,500
- % Change: -3.0%
My Analysis
- The Boise real estate market has mostly stabilized, but isn’t rebounding.
- Listing inventory has trended down and is extremely low.
- Average asking prices are up slightly.
- Median asking prices are flat.
- Current pending sales are strong considering the normal seasonal fluctuation.
- Closed sales prices are slightly down.
- The number of current closed sales is strong given our current Winter market.
Remember: Real estate statistics can vary significantly depending upon the “mix” of data during any given time period.
Data pertains to Ada County single-family homes on lot/acreage and does not include condo/townhome properties.
Data for Now = December 2011 data.
Data for Then = June 2011 data.
January 17th, 2012 Posted in Boise Market Stats
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