by Phil Hoover, Real Estate Broker

Boise Home Sales: Strong Pending Sales

As of this morning, we have 1,447 pending sales in MLS.

That’s the highest number I’ve recorded since early 2007 and it may be the highest number of pending sales ever!

Since most pending sales become closed sales, their numbers are elusive unless you keep a record of them each month (as I have been doing since 2007).

Pending sales are a very good indicator of closings that will occur in the coming 30-60 days.

Here’s a breakdown of pending sales by price range:

  • Under $100,000: 44 (3.0%)
  • $100,000 to $149,999: 287 (19.8%)
  • $150,000 to $199,999: 353 (24.4%)
  • $200,000 to $249,999: 200 (13.8%)
  • $250,000 to $299,999: 174 (12.0%)
  • $300,000 to $399,999: 249 (17.2%)
  • $400,000 to $499,999: 71 (4.9%)
  • $500,000 and above: 69 (4.8%)

Takeaways

  • 47.3% of all pending sales are in the Under-$200,000 price range.
  • 25.9% of all pending sales are in the $200,000 to $299,999 price range.
  • 73.1% of all pending sales are under $300,000.
  • 9.7% of all pending sales are above $400,000.
  • Sales activity is finally increasing in the mid and upper price ranges.

Data pertains to Ada County single-family homes on lot or acreage.  Data does not include condo or townhome properties.

 

May 11th, 2013 Posted in Boise Market Stats Print This Post Print This Post

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