Boise Idaho Real Estate Stats – July 2014

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

Boise Idaho Available Homes

  • # Available: 2,878
  • Average Asking Price: $317,324
  • Median Asking Price: $249,900
  • Months’ Supply: 4.1

Boise Idaho Pending Sales

  • # Pending: 971
  • Average Asking Price: $270,073
  • Median Asking Price: $234,000

Boise Idaho Closed Sales – July 2013

  • # Closed: 910
  • Average Sales Price: $238,767
  • Median Sales Price: $206,898

Boise Idaho Closed Sales – July 2014

  • # Closed: 846
    % Change: -7.0%
  • Average Sales Price: $249,129
    % Change: +4.3%
  • Median Sales Price: $215,592
    % Change: +4.2%

Data taken from Intermountain MLS on 8/6/14 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 six months.

 

Meridian Idaho Real Estate Stats – July 2014

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

Meridian Idaho Available Homes

  • # Available: 722
  • Average Asking Price: $264,634
  • Median Asking Price: $239,000235,692
  • Months’ Supply: 4.1

Meridian Idaho Pending Sales

  • # Pending: 238
  • Average Asking Price: $259,197
  • Median Asking Price: $230,670

Meridian Idaho Closed Sales – July 2013

  • # Closed: 242
  • Average Sales Price: $230,783
  • Median Sales Price: $209,900

Meridian Idaho Closed Sales – July 2014

  • # Closed: 214
    % Change: -11.6%
  • Average Sales Price: $248,917
    % Change: +7.9%
  • Median Sales Price: $226,534
    % Change: +7.9%

Data taken from Intermountain MLS on 8/6/14 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 six months.

 

Eagle Idaho Real Estate Stats – July 2014

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

Eagle Idaho Available Homes

  • # Available: 402
  • Average Asking Price: $526,492
  • Median Asking Price: $444,943
  • Months’ Supply: 7.0

Eagle Idaho Pending Sales

  • # Pending: 119
  • Average Asking Price: $408,691
  • Median Asking Price: $372,700

 Eagle Idaho Closed Sales – July 2013

  • # Closed: 84
  • Average Sales Price: $354,577
  • Median Sales Price: $331,350

 Eagle Idaho Closed Sales – July 2014

  • # Closed: 77
    % Change: -8.3%
  • Average Sales Price: $388,062
    % Change: +9.4%
  • Median Sales Price: $339,900
    % Change: +2.6%

Data taken from Intermountain MLS on 8/6/14 and pertains to Eagle, 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 six months.

 

Boise Homes : Your Listing Agent’s Real Job

There’s often some confusion with sellers of Boise homes about what to expect from their listing agent.

Specifically, some sellers think their listing agent will be the agent who personally sells their home.

At a glance, this seems plausible, but that isn’t how real estate really works.

Most Boise area home sales include a listing agent and a buyer’s agent who cooperate with each other while representing their respective clients.

We have around 3,000 agents in the Boise real estate market and it’s far more likely that one of those  agents will find a buyer before the listing agent does.

A listing agent selling their own listing is a relatively rare event.

Another consideration is the fact that most serious buyers commit to their own buyer’s agent when they get ready to buy.

Those buyers want their own agent representing them; not a listing agent who’s representing their seller.

The real job of a listing agent is to expose their seller’s home to the largest possible audience, encourage offers, respond promptly to inquiries from buyers and other agents, and represent their seller throughout the home selling process.

The above applies to resale homes; not subdivision homes where buyers often “walk in” and agree to work directly with the builder’s agent.

 

Eagle, Idaho ~ High End Market Saturation

We have a lot of high-end homes for sale in Eagle, Idaho now.

In fact, there are 57 homes above $750,000 for sale in Eagle now.

More important is the fact that only 10 homes above $750,000 have closed year-to-date in Eagle.

That works out to an absorption rate of about 1.4 homes per month and 41 months’ supply of high-end listings.

That’s definitely a buyer’s market!

Data pertains to Eagle, Idaho single-family homes on lot or acreage. Data does not include condo or townhome properties.