Boise Real Estate Blog

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

Available Homes

# Available: 529
Average Asking Price: $362,463
Median Asking Price: $301,990
Months’ Supply: 2.0

Pending Sales

# Pending: 602
Average Asking Price: $315,613
Median Asking Price: $293,702

Closed Sales -August 2016

# Closed: 327
Average Sales Price: $281,348
Median Sales Price: $257,653

Closed Sales -August 2017

# Closed: 333
% Change: +1.8%

Average Sales Price: $298,032
% Change: +6.0%

Median Sales Price: $280,000
% Change: +8.7%

Data extracted from Intermountain MLS on 9/5/17 and pertains to Meridian Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S. 

Phil is one of only ten local Realtors^® (of 5,600) honored with the coveted “Realtor^® Emeritus” award from the National Association of Realtors^®, recognizing 40 years in real estate.

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

Available Homes

# Available: 533
Average Asking Price: $347,020
Median Asking Price: $299,000
Months’ Supply: 2.0

Pending Sales

# Pending: 539
Average Asking Price: $314,603
Median Asking Price: $295,000

Closed Sales – July 2016

# Closed: 300
Average Sales Price: $269,607
Median Sales Price: $249,900

Closed Sales – July 2017

# Closed: 286
% Change: -4.7%

Average Sales Price: $298,341
% Change: +10.7%

Median Sales Price: $280,995
% Change: +12.4%

Data extracted from Intermountain MLS on 8/6/17 and pertains to Meridian Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S. 

Phil is one of only ten local Realtors^® (of 5,500) honored with the coveted “Realtor^® Emeritus” award from the National Association of Realtors^®, recognizing 40 years in real estate.

 

The first half of the Meridian Idaho real estate market is now in the books.

Now is a good time to look back on the past six months’ numbers and analyze where we stand.

Current Available Listings

• End of June 2016: 657
• End of June 2017: 531
• % Change: -19.2%

Pending Sales

• End of June 2016: 505
• End of June 2017: 536
• % Change: +6.1%

YTD Closed Sales

• 2016: 1,466
• 2017: 1,444
• % Change: -1.5%

Average Sales Price:

• 2016: $271,579
• 2017: $296,801
• % Change: +9.3%

Median Sales Price:

• 2016: $249,900
• 2017: $273,150
• % Change: +9.3%

Takeaways

• We have 19.2% less available listing inventory this year vs. last year.
• We have 6.1% more current pending sales this year vs. last year.
• We have closed 1.5% fewer homes this year vs. last year.
• Our current average sales price is 9.3% higher this year vs. last  year.
• Our current median sales price is 9.3% higher this year vs. last  year.
• 39.7% of our current pending sales are To-Be-Built or Under Construction.
• Many buyers are buying new homes because they can’t find existing resale homes.
• Our high pending sales number is partially caused by the time required to build new homes.
• Our lack of listing inventory is causing fewer closed sales this year vs. last year.
• We could sell more homes if we had more listing inventory.

Date range is January through June of each year.

Data pertains to Meridian Idaho single-family homes on lot or acreage.

Data does not include condo or townhome properties.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors^® (of nearly 5,500) honored with the coveted “Realtor^® Emeritus” award from the National Association of Realtors^®, recognizing 40 years in real estate.

 

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

Available Homes

# Available: 531
Average Asking Price: $346,942
Median Asking Price: $299,900
Months’ Supply: 2.0

Pending Sales

# Pending: 536
Average Asking Price: $318,603
Median Asking Price: $299,900

Closed Sales – June 2016

# Closed: 315
Average Sales Price: $271,579
Median Sales Price: $249,900

Closed Sales – June 2017

# Closed: 346
% Change: +9.8%

Average Sales Price: $296,801
% Change: +9.3%

Median Sales Price: $273,150
% Change: +9.3%

Data extracted from Intermountain MLS on 7/7/17 and pertains to Meridian Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S. 

Phil is one of only ten local Realtors^® (of 5,500) honored with the coveted “Realtor^® Emeritus” award from the National Association of Realtors^®, recognizing 40 years in real estate.

 

Here’s a breakdown of Paramount Subdivision 2017 sales activity:

Paramount Subdivision Available Listings

• # Available: 28
• Average Asking Price: $346,010
• Median Asking Price: $347,450
• Months’ Supply: 2.3

Paramount Subdivision Pending Sales

• # Pending: 40
• Average Asking Price: $347,215
• Median Asking Price: $364,330

Paramount Subdivision YTD Closed Sales

• # Closed: 69
• Average Sales Price: $352,231
• Median Sales Price: $362,880

Data pertains to Paramount Subdivision in Meridian, Idaho.

Months’ supply calculated by dividing the past twelve months’ average monthly closed sales into the number of available homes.

YTD = 1/1/17 thru 5/31/17.

 _______________________________________________________

Phil Hoover is a licensed independent Idaho real estate broker, assisting both buyers and sellers in Boise Idaho, Meridian Idaho, and Eagle Idaho.

During his 45 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.

Phil is one of only ten local Realtors^® (of nearly 5,500) honored with the coveted “Realtor^® Emeritus” award from the National Association of Realtors^®, recognizing 40 years in real estate.