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%

Takeaways

  • September’s pending sales were only 1.8% greater than August’s pending sales, indicating flattening activity.
  • Pending sales typically rise during our Spring market and continue to be relatively strong throughout our Summer market, but that didn’t happen this year.
  • Downtrending pending sales from May through August led to 8.9% fewer closed sales in September.
  • Our Fall market is often stronger than our Summer market, so perhaps we will see a further uptick in  pending sales during October and November.

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 – September 2014

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

Boise Idaho Available Homes

  • # Available: 2,879
  • Average Asking Price: $314,050
  • Median Asking Price: $248,764
  • Months’ Supply: 3.8

Boise Idaho Pending Sales

  • # Pending: 914
  • Average Asking Price: $271,158
  • Median Asking Price: $225,000

Boise Idaho Closed Sales –September 2013

  • # Closed: 720
  • Average Sales Price: $235,281
  • Median Sales Price: $195,000

Boise Idaho Closed Sales – September 2014

  • # Closed: 656
    % Change: -8.9%
  • Average Sales Price: $238,828
    % Change: +1.5%
  • Median Sales Price: $204,900
    % Change: +5.1%

Data taken from Intermountain MLS on 10/5/14 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 – September 2014

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

Meridian Idaho Available Homes

  • # Available: 719
  • Average Asking Price: $265,511
  • Median Asking Price: $243,740
  • Months’ Supply: 6.0

Meridian Idaho Pending Sales

  • # Pending: 224
  • Average Asking Price: $265,418
  • Median Asking Price: $230,450

Meridian Idaho Closed Sales – September 2013

  • # Closed: 190
  • Average Sales Price: $228,992
  • Median Sales Price: $205,250

Meridian Idaho Closed Sales – September 2014

  • # Closed: 175
    % Change: -7.9%
  • Average Sales Price: $220,226
    % Change: -3.8%
  • Median Sales Price: $201,000
    % Change: -2.1%

Data taken from Intermountain MLS on 10/5/14 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 – September 2014

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

Eagle Idaho Available Homes

  • # Available: 405
  • Average Asking Price: $509,108
  • Median Asking Price: $424,900
  • Months’ Supply: 6.0

Eagle Idaho Pending Sales

  • # Pending: 93
  • Average Asking Price: $398,059
  • Median Asking Price: $374,900

 Eagle Idaho Closed Sales – September 2013

  • # Closed: 48
  • Average Sales Price: $379,441
  • Median Sales Price: $341,787

 Eagle Idaho Closed Sales – September 2014

  • # Closed: 52
    % Change: +8.3%
  • Average Sales Price: $380,527
    % Change: +.30%
  • Median Sales Price: $324,350
    % Change: -5.1%

Data taken from Intermountain MLS on 10/5/14 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: YTD Market Comparison

Everyone wants to know how our current Boise real estate market compares to last year’s market.

Here’s a year-over-year comparison of available listings, pending sales, and closed sales for the first nine months of 2013 vs. 2014.

Boise Homes: Available Listings

  • 9/30/13: 2,579
  • 9/30/14: 2,838
    % Change: +10.0%

Boise Homes: Pending Sales

  • 9/30/13: 917
  • 9/30/14: 925
    % Change: +.9%

Boise Homes: 2013 Closed Sales

  • # Closed: 6,361
  • Average Sales Price: $230,831
  • Median Sales Price: $195,000

Boise Homes: 2014 Closed Sales

  • # Closed: 6,063
    % Change: -4.7%
  • Average Sales Price: $243,698
    % Change: +5.6%
  • Median Sales Price: $209,900
    % Change: +7.6%

Takeaways

  • Our listing inventory has increased by 10.0%, resulting in more competition for sellers and more choices for buyers.
  • Our pending sales are flat year-over-year.
  • Our 2014 YTD closed sales are down 4.7%.
  • Our average and median sales prices are up modestly.
  • Our average and median prices will probably moderate with higher listing inventory and declining sales as we approach our slower winter market.
  • Our slower winter market could also result in lower listing inventory due to sellers delaying listing until next Spring.

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

Data does not include condo or townhome properties.

Time period = January 1st thru September 30th of each year.