Boise Real Estate Blog » Combined Market Stats

2009 YTD Canyon County Market Stats

Phil Hoover — Thu, 19 Mar 2009 15:34:00 +0000

Here’s a breakdown of Canyon County’s year-to-date sales activity:

2,374 homes available
January Closed Sales = 108
February Closed Sales = 106
Total YTD Closed Sales = 214
Months’ Supply Of Available Homes = 22.2

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

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Interesting Boise Real Estate Stats

Phil Hoover — Tue, 10 Feb 2009 15:57:36 +0000

1.8% of all U.S. homes are IN foreclosure (which means 98.2% are NOT!)
33% of all owner-occupied homes don’t even have a mortgage!
18% of all U.S. mortgages are upside with 2/3 of them located in 7 states (Arizona, California, Florida, Nevada, Ohio, Michigan, Georgia)
2.8% of all U.S. mortgages are three or more months in arrears.
There are 18.6 million vacant homes in the U.S. now.
54.4% of all Ada County homes for sale are vacant
Average Ada County agent sold 1.6 homes in 2008
Ada County average price = $311,607
Ada County median price = $234,900

Sources: Title Solutions, Inc./Intermountain MLS

Average and median prices are for January closed sales of single-family residences on lot/acreage and do not include condo or townhome properties.

2008 Boise Real Estate Market Review

Phil Hoover — Tue, 03 Feb 2009 20:44:39 +0000

I have completed my 2008 Ada County Real Estate Market Review.

This exhaustive, in-depth report breaks out 2008 vs. 2007 residential real estate activity by each MLS area, and also includes an overall Ada County section.

To receive your own copy of this 19-page report, please e-mail me with your snail mail address.

Boise Real Estate Vacancy Survey

Phil Hoover — Wed, 28 Jan 2009 17:06:30 +0000

The Southwest Idaho chapter of the National Association of Residential Property Managers (NARPM) recently completed a vacancy survey rental properties in the Boise real estate market.

Here’s what they found:

Vacancy Avg. Rent

Single-Family Homes

One-Bedroom Single-family Home 3.8% $ 540

Two-Bedroom Single-Family Home 3.8% $ 680

Three-Bedroom Single-Family Home 6.8% $ 858

Four-Bedroom Single-Family Home 8 .3% $1,023

Five-Bedroom+ Single-Family Home 7.5% $1,275

Overall Single-Family Vacancy 6.5% N/A

Apartments

Studio Apartment 11.4% $ 400

One-Bedroom Apartment 4.2% $ 485

Two-Bedroom Apartment 7.5% $ 585

Three-Bedroom+ Apartment 6.4% $ 782

Overall Apartment Vacancy 6.5% N/A

This survey was a sampling with 14 of 39 property managers responding, comprised of 2,790 units, of which 1,193 were single-family homes and 1,597 were multi-family with 2-15 units.

Boise Real Estate’s New Construction Sags

Phil Hoover — Mon, 26 Jan 2009 14:42:21 +0000

There’s a fascinating new story on Trey Langford’s BuildingCredibility.com this morning.

Trey’s article says only 93 Treasure Valley builders pulled more than one permit in 2008.

Even more interesting is the fact that the pace of permits they pulled dwindled by 50% in the 2nd half of 2008.

Check out the article here.

Boise Real Estate Mid-Year Market Statistics

Phil Hoover — Tue, 19 Aug 2008 14:25:02 +0000

Here’s an interesting comparison of mid-year market stats for the Boise real estate market:

Active Listings:

2007: 4,968
2008: 5,052

Average Sales Prices

2007 Average Sales Price: $282,483
2008 Average Sales Price: $262,381
% Change: -7.1%

Median Sales Prices

2007 Median Sales Price: $238,900
2008 Median Sales Price: $210,000
% Change: -12.1%

YTD Closed Sales: (number of homes sold)

2007: 4,032
2008: 2,730
% Change: -32.3%

Months’ Supply of Listings

2007: 7.4
2008: 11.1

Phil’s Plainspoken Summary:

We have enough homes for sale to last nearly a year if no more were listed.
We are selling 2/3 as many homes as we were a year ago at lower prices.

Notes:

Data pertains to Ada County single-family homes on lot/acreage.
Data is for the 1st half of each year.
Months’ supply calculated by dividing the average number of YTD closed sales per month into the number of active listings.

When Will We Stop Comparing To 2005?

Phil Hoover — Sat, 16 Aug 2008 16:31:46 +0000

Am I the only one who’s growing weary of the endless real estate market comparisons to 2005?

Yeah, 2005 was just great ~ everyone and their cat got their real estate licenses, we had busloads of speculators/flippers flooding into the Boise area trying to buy every home in some of our subdivisions, and everyone thought homes would continue to appreciate at 24% per year forever.

Now that we are back to a normal market, the media remains obsessed with comparisons to the 2005 real estate market.

Guess what, folks ~ 2005 was an aberration, an anomaly, unrealistic, and (insert your own description here).

2005 was then; 2008 is now!

The market we have is the market we have and all of those silly comparisons to 2005 are meaningless.

I wonder if the media will still be comparing current real estate market statistics to 2005 in 2015?

Boise, Idaho Real Estate Stats For June 2008

Phil Hoover — Mon, 07 Jul 2008 08:42:00 +0000

Here’s a snapshot of June’s real estate activity for Boise (Ada County), Idaho:

Available Homes
# Available: 5,052
# Vacant: 2,510
Vacant Percent: 49.7%
Average Asking Price: $343,965
Median Asking Price: $262,000

Pending Sales
# Pending: 712
Average Asking Price: $295,655
Median Asking Price: $224,900

Closed Sales June 2007
# Closed: 761
Average Sales Price: $279,822
Median Sales Price: $235,950

Closed Sales – June 2008
# Closed: 549
% Change: -27.9%

Average Sales Price: $262,381
% Change: -6.2%

Median Sales Price: $210,000
% Change: -11.0%

Data taken from Intermountain MLS on 7/6/08 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

Meridian, Idaho Real Estate Stats For June 2008

Phil Hoover — Mon, 07 Jul 2008 08:33:33 +0000

Here’s a snapshot of August’s real estate activity for Meridian, Idaho:

Available Homes
# Available: 1,412
# Vacant: 755
Vacant Percent: 53.5%
Average Asking Price: $290,017
Median Asking Price: $258,975

Pending Sales
# Pending: 218
Average Asking Price: $277,105
Median Asking Price: $239,900

Closed Sales – August 2007
# Closed: 197
Average Sales Price: $280,866
Median Sales Price: $259,500

Closed Sales – August 2008
# Closed: 157
% Change: -20.3%

Average Sales Price: $244,738
% Change: -12.9%

Median Sales Price: $221,990
% Change: -14.5%

Data taken from Intermountain MLS on 9/7/08 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

Eagle, Idaho Real Estate Stats For June 2008

Phil Hoover — Mon, 07 Jul 2008 08:27:55 +0000

Here’s a snapshot of June’s real estate activity for Eagle, Idaho:

Available Homes
# Available: 569
# Vacant: 250
Vacant Percent: 43.9%
Average Asking Price: $652,121
Median Asking Price: $539,988

Pending Sales
# Pending: 57
Average Asking Price: $627,642
Median Asking Price: $519,900

Closed Sales June 2007
# Closed: 45
Average Sales Price: $424,476
Median Sales Price: $379,900

Closed Sales – June 2008
# Closed: 46
% Change: +2.2%

Average Sales Price: $464,089
% Change: +9.3%

Median Sales Price: $393,750
% Change: +3.7%

Data taken from Intermountain MLS on 7/6/08 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.