Boise Real Estate And Boise Listings Numbers And Stats
The Boise market is changing everyday.
Here are some of the recent numbers in the market from last month. The first number is the number of transactions, dollar volume, average price, median price, and days on the market.
Boise Home Search
Residential Conventional 772 $203,631,349 $263,771 $232,000 79
FHA 12 $2,180,963 $181,747 $175,450 66
VA 11 $2,261,521 $205,593 $212,900 86
Cash 61 $17,121,769 $280,685 $204,900 77
IHA 6 $1,371,300 $228,550 $206,450 81
Lease/Purchase 1 $115,000 $115,000 $115,000
Other 12 $4,821,348 $401,779 $262,450 122
Analysis by Area
North Boise – 0100 44 $13,438,550 $305,422 $312,450 88
NE Boise – 0200 15 $5,795,700 $386,380 $298,500 62
SE Boise – 0300 47 $12,154,569 $258,608 $228,900 52
Boise Bench – 0400 49 $8,436,650 $172,177 $160,900 54
South Boise – 0500 32 $7,731,965 $241,624 $237,500 59
SW Boi/Meri – 0550 92 $20,315,128 $220,817 $204,950 90
West Boise – 0600 33 $6,473,713 $196,173 $183,000 59
W Boise/Gard – 0650 78 $17,934,863 $229,934 $209,000 59
Garden City – 0700 1 $125,500 $125,500 $125,500 106
NW Boise – 0800 36 $10,465,166 $290,699 $209,900 86
Eagle – 0900 44 $21,009,973 $477,499 $393,900 88
SE Meridian – 1000 37 $11,330,164 $306,221 $291,518 117
SW Meridian – 1010 13 $5,114,032 $393,387 $415,000 134
NE Meridian – 1020 97 $25,575,787 $263,668 $242,990 94
NW Meridian – 1030 167 $42,820,036 $256,407 $241,101 74
Kuna – 1100 59 $13,702,010 $232,237 $189,900 92
Star – 0950 31 $9,079,444 $292,885 $256,500 89
Totals 875 $231,503,250 $264,575 $229,900 79
Non Co-op Sales 215 $58,437,772 $271,804 $243,900 80
Co-op Sales 660 $173,065,478 $262,220 $227,830 79
All Sold Listings 875 $231,503,250 $264,575 $229,900 79
As you might have heard all over the news, financing giant Merrill Lynch was bought out by Bank of America. Banks all across the country and also the world will have to come to grips with an even tougher outlook as Lehman Brothers closes shop leaving over 25,000 employees out of work. After trying to find a buyer, Lehman Brothers was left holding the bag because they lost billions in the mortgage markets and they will go ahead with Chapter 11 bankruptcy filing.
What does this mean to you? Only time will tell what will happen with the markets as they try to stabilize. Interest rates are actually great right now and some expect another small rate cut to help lessen this Merrill Lynch blow. So, if you are looking to buy some real estate and take a loan out, the combination of low interest rates and low home prices is a combination that may be hard to pass up if you can get over the negative market news.
It may take some time for this to trickle down to the consumer, but expect some more news on the effects of this buyout in the coming weeks. This is also going to be a hot topic in the presidential race between Obama and McCain. There is even more bad news to come as AIG tries to stay above water needing $40 billion loan from the federal reserve.
Experts say that this too shall pass. Something had to give and there has been a lot of giving lately, but hopefully it will help to build a stronger foundation in the real estate and money markets in years to come.
Ben Janke is a Idaho real estate broker that has written free real estate guides that you can access by clicking the following link Boise real estate.
Boise ID Real Estate
The asking price vs. the selling price in the Boise real estate market ranges from -13% all the way to +3% with an average of about -3.5% that buyers are getting off of the asking price. Of course, this really depends on how aggressive the sellers and listing agents have the home priced.
When you are looking into a home purchase in the Boise real estate market, there is nothing more important than knowing your numbers. When it really comes down to it, the “asking” price from the sellers really doesn’t matter that much. What Boise buyers really need to look at is the “sold” numbers in the market so they really know what price a property is selling for. You must also keep in mind that the Boise market is made up of several smaller markets that all are connected, but have very different strengths and weaknesses.
Happy House Hunting!
