Boise Real Estate Blog

Meridian, Idaho Real Estate Stats – June 2010

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

Available Homes
# Available: 964
# Vacant: 538
Vacant Percent: 55.8%
Average Asking Price: $202,453
Median Asking Price: $174,000

Pending Sales
# Pending: 222
Average Asking Price: $199,181
Median Asking Price: $182,982

Closed Sales – May 2009
# Closed: 127
Average Sales Price: $190,599
Median Sales Price: $177,500

Closed Sales – May 2010
# Closed: 196
% Change: +54.3%

Average Sales Price: $174,502
% Change: -8.4%

Median Sales Price: $163,000
% Change: -8.2%

Data taken from Intermountain MLS on 6/9/10 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

June 12th, 2010 Posted in Meridian Market Stats |

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Eagle, Idaho Real Estate Stats – June 2010

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

Available Homes
# Available: 351
# Vacant: 108
Vacant Percent: 30.8%
Average Asking Price: $461,871
Median Asking Price: $385,000

Pending Sales
# Pending: 72
Average Asking Price: $363,902
Median Asking Price: $361,125

Closed Sales – May 2009
# Closed: 32
Average Sales Price: $394,577
Median Sales Price: $320,000

Closed Sales – May 2010
# Closed: 59
% Change: +84.4%

Average Sales Price: $298,967
% Change: -24.2%

Median Sales Price: $243,000
% Change: -24.1%

Data taken from Intermountain MLS on 6/9/10 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

June 12th, 2010 Posted in Eagle Market Stats |

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Give Me Your Highest and Best Offer!

One of the many games played by listing agents with short sale listings is purposely underpricing their listing as a way to generate multiple offers.

Then, when those offers come in, they tell buyer’s agents “give me your highest and best offer!”

Problem is, highest and best often do not go together.

The highest offer may not be the best offer, for a variety of reasons, including:

The buyer may not have approved financing.
The buyer may want a longer escrow.
The buyer may have made offers on several properties and could withdraw their offer and close n one of the other properties.
The property may not appraise at the highest price.

I could go on and on, but you get the idea ~ the quality of the offer is usually more important than achieving the highest price.

The highest price is meaningless if escrow never closes.

May 22nd, 2010 Posted in Inside Real Estate |

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2010 YTD Boise Real Estate Price Distribution

Here’s the 2010 year-to-date price distribution of Boise real estate (Ada County) sales:

Price Range # Listings % Of Total

$69,999 and under 63 2.93%
$70,000-$89,999 64 2.97%
$90,000-$99,999 74 3.44%
$100,000-$119,999 255 11.84%
$120,000-$159,999 682 31.68%
$160,000-$199,999 356 16.54%
$200,000-$249,999 289 13.42%
$250,000-$299,999 139 6.46%
$300,000-$399,999 147 6.83%
$400,000-$499,999 50 2.32%
$500,000 and over 34 1.58%

Total Closed Sales 2,153

69.4% of sales were under $200,000
19.9% of sales were between$200,000 to $300,000.
6.8% of sales were between$300,000 to $400,000.
2.3% of sales were between$400,000 to $500,000.
Only 1.6% of sales were over $500,000.

Statistics pertain to 2010 year-to-date Ada County closed transactions of single-family homes on lot/acreage and do not include condo/townhome properties.

May 10th, 2010 Posted in Boise Market Stats |

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Boise, Idaho Real Estate Stats – May 2010

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

Available Homes
# Available: 3,579
# Vacant: 1,698
Vacant Percent: 47.4%
Average Asking Price: $248,327
Median Asking Price: $179,900

Pending Sales
# Pending: 1,166
Average Asking Price: $194,619
Median Asking Price: $159,900

Closed Sales – April 2009
# Closed: 450
Average Sales Price: $207,595
Median Sales Price: $174,900

Closed Sales – April 2010
# Closed: 687
% Change: +52.7%

Average Sales Price: $179,907
% Change: -13.3%

Median Sales Price: $150,000
% Change: -14.2%

Data taken from Intermountain MLS on 5/5/10 and pertains to single-family residences on lot or acreage. Data does not include condominiums or townhomes.

May 5th, 2010 Posted in Boise Market Stats |

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