Boise Homes: Pending Sales Trends

Pending sales of Boise homes are an indicator of future closed sales.

Here’s a breakdown of 2014 year-to-date pending sales.

  • January: 813
    % Change: (baseline number)
  • February: 897
    % Change: +10.3%
  • March: 993
    % Change: +10.7%
  • April: 1,177
    % Change: +18.5%
  • May: 1,143
    % Change: -2.9%
  • June: 1,114
    % Change: -2.5%
  • July: 971
    % Change:  -12.8%
  • August: 898
    % Change:  -7.5%
  • September: 914
    % Change: +1.8%
  • October: 891
    % Change: -2.5%

Takeaways

  • October’s pending sales were only 2.5% below September’s number, indicating strength in our Fall market.
  • Pending sales are typically higher in our Spring and Summer markets, then decline as we approach our Winter market.
  • Our lower pending sales numbers from May through August confirm that we had a slower market this past Summer.

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

Data does not include condo or townhome properties.

 

Boise Home Sales: This Year vs. Last Year

Here’s a year-over-year comparison of  YTD Boise home sales.

2013 Boise Home Sales

  • # Sold: 7,003
  • Average Sales Price: $232,436
  • Median Sales Price: $196,200

2014 Boise Home Sales

  • # Sold: 6,783
    % Change: -3.1%
  • Average Sales Price: $244,008
    % Change: +5.0%
  • Median Sales Price: $209,900
    % Change: +7.0%

Takeaways

  • The number of 2014closed sales has declined 3.1% vs. 2013.
  • Prices have risen while the number of closed sales has declined.
  • Higher prices for new homes (vs. resale homes) is a contributing factor to higher prices.
  • We have a very healthy real estate market, compared to other markets around the country.

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

Data does not include condo or townhome properties.

Date range = January 1st through October 31st of each year.

 

 

Boise Homes For Sale: This Year vs. Last Year

Here’s a year-over-year comparison of  available Boise homes for sale at the end of October.

2013 Boise Homes For Sale

  • # Available: 2,428
  • Average Asking Price: $294,885
  • Median Asking Price: $225,000

2014 Boise Homes For Sale

  • # Available: 2,616
    % Change: +7.7%
  • Average Asking Price: $315,614
    % Change: +7.0%
  • Median Asking Price: $249,900
    % Change: +11.1%

Takeaways

  • We have 7.7% more listing inventory now vs. last year.
  • Our average and median prices are both higher now vs. last year.
  • Our listing inventory is declining as we enter our slower winter market, which is normal.

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

Data does not include condo or townhome properties.

 

 

Boise Idaho Real Estate Stats – October 2014

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

Boise Idaho Available Homes

  • # Available: 2,616
  • Average Asking Price: $315,614
  • Median Asking Price: $249,900
  • Months’ Supply: 4.0

Boise Idaho Pending Sales

  • # Pending: 891
  • Average Asking Price: $286,034
  • Median Asking Price: $239,900

Boise Idaho Closed Sales – October 2013

  • # Closed: 642
  • Average Sales Price: $248,353
  • Median Sales Price: $211,862

Boise Idaho Closed Sales – October 2014

  • # Closed: 657
    % Change: +2.3%
  • Average Sales Price: $247,372
    % Change: -.40%
  • Median Sales Price: $208,698
    % Change: -1.5%

Data taken from Intermountain MLS on 11/4/14 and pertains to Ada County, 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.

 

Boise Idaho Homes: Pending Sales

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Here’s an interesting breakdown of Boise Idaho (Ada County) pending sales.

Boise Idaho Homes: Pending Sales

  • # Pending: 935
  • Average Asking Price: $281,750
  • Median Asking Price: $236,900

Boise Idaho Homes: Pending Sales by Property Age

  • To Be Built: 38
  • Under Construction: 138
  • New-Never Occupied: 67
  • Under 1 Year: 6
  • 1-5 Years: 50
  • 6-10 Years: 126
  • 11-20 Years: 181
  • 21-30 years: 88
  • 31-50 Years: 124
  • 50+ Years: 117

Takeaways & Context

  • 26.0% of all current pending sales are new homes.
  • 18.8% of all current pending sales are new homes under construction.
  • 45.5% of all current pending sales are homes that are less than 10 years old.
  • 35.2% of all current pending sales are homes that are more than 20 years old.

Data pertains to Boise, Idaho (Ada County) pending sales of homes on lot or acreage.

Data does not include condo or townhome properties.