Boise Homes: Closed Sales Trends

Here’s a breakdown of 2014 year-to-date closed sales for Boise homes.

  • January: 411
    % Change: (baseline number)
  • February: 419
    % Change: +2.0%
  • March: 541
    % Change: +29.1%
  • April: 669
    % Change: +23.7%
  • May: 800
    % Change: +19.6%
  • June: 810
    % Change: +1.3%
  • July: 846
    % Change: +4.4%
  • August: 752
    % Change: -11.1%
  • September: 656
    % Change: -12.8%

Takeaways

  • After a strong Spring market, our Summer market began showing signs of weakness in year-over-year comparisons.
  • While not displayed here, our pending sales declined from May through August of this year, leading to fewer closed sales in August and September.

Data pertains to Ada County single-family homes on lot or acreage.

Data does not include condo or townhome properties.

 

Boise Homes: Listing Inventory Trends

Our listing inventory plays a significant role in sales activity and pricing of Boise homes.

Here’s a breakdown of 2014 year-to-date listing inventory at the end of each month.

  • January: 2,046
    % Change: (baseline number)
  • February: 2,080
    % Change: +1.7%
  • March: 2,246
    % Change: +8.0%
  • April: 2,459
    % Change: +9.5%
  • May: 2,699
    % Change: +9.8%
  • June: 2,767
    % Change: +2.5%
  • July: 2,878
    % Change: +4.0%
  • August: 2,950
    % Change: +2.5%
  • September: 2,879
    % Change: -2.4%

Takeaways

  • More listing inventory means more competition for sellers and more choices for buyers.
  • Our listing inventory is seasonal with fewer listings in Winter and more listing inventory during the good weather months.
  • This year, our listing inventory peaked at 2,879 Boise homes for sale in September.
  • Our listing inventory at the end of September was 40.7% higher than our listing inventory at the end of January.

Data pertains to Ada County single-family homes on lot or acreage.

Data does not include condo or townhome properties.

 

Change Your Locks After Closing

It’s common practice for buyers to be given the keys to the home they bought when escrow closes.

In fact, it’s an accepted ritual that has been going on forever.

In most instances, the listing agent leaves the keys and the garage keypad code with the escrow officer, who then releases them to the buyer upon closing.

I have often wondered if this is a good idea.

Think about this for a moment!

How many neighbors and family members have an extra key for the home?

If it’s a new home, how many subcontractors have a key or know the garage keypad code?

I’m guessing that it’s very rare for the previous owner to have sole possession of all keys, extra garage door controllers, and the garage keypad code.

That’s why I recommend that buyers have all locks re-keyed by a locksmith and change the garage keypad code immediately after closing.

 

Boise Home Inspections: Common Issues

I’ve dealt with hundreds of Boise home inspections over the past several years.

In the course of those inspections, I’ve noticed that many of them reveal some common issues.

Here are a few common Boise home inspection issues.

  • Disconnected HVAC ducting
  • Missing/displaced vapor barrier
  • Moisture in crawlspace
  • Reverse grade (lot slopes toward foundation)
  • Fogged windows
  • Cracked/broken roof vent jacks
  • HVAC service needed
  • Missing roof shingles
  • Missing roof flashing
  • Roof replacement needed
  • Missing window screens
  • Inoperable GFCI outlets
  • Garage door openers with defective auto-reverse
  • Dangling hot wire in crawlspace