Eagle Idaho: Brookwood Subdivision

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Curious about Brookwood Subdivision in Eagle Idaho?

Here’s what’s available, pending, and closed during in 2014.

Brookwood Subdivision Available Homes

  • # Available: 10
  • Average Asking Price: $495,150
  • Median Asking Price: $401,500
  • Months’ Supply: 5.0

Brookwood Subdivision Pending Sales

  • # Pending: 4
  • Average Asking Price: $359,450
  • Median Asking Price: $359,900

Brookwood Subdivision 2014 Closed Sales

  • # Closed: 24
  • Average Sales Price: $346,541
  • Median Sales Price: $337,350

Data pertains to Brookwood Subdivision in Eagle, Idaho.

Months’ supply calculated by dividing the past year’s average monthly closed sales into the number of available homes.

 

Million Dollar Club = Real Estate’s Food Stamp Program

I smile every time I see a real estate agent bragging that they’re in the Million Dollar Club.

For way too long, real estate agents have obsessed over their “sales volume”, as though it was a big deal to sell a million dollars’ worth of homes.

Last time I checked, Albertson’s wasn’t accepting real estate sales volume at the checkout counter.

They wanted real money.

Fact is, membership in the Million Dollar Club is real estate’s equivalent of qualifying for food stamps.

Here’s why:

Most real estate transactions include a listing agent and a buyer’s agent.

If the transaction includes a 6% commission, that means each agent will receive a commission equal to 3% of the sales price.

One million in sales X 3% = $30,000 gross commission.

But, that’s not the end of it.

That $30,000 gross commission is then typically split with the agent’s broker.

It’s not uncommon for some agents to give up 40-50% of that $30,000 commission to their broker.

Let’s be generous and say that the agent is on a 60/40 split with their broker.

That results in $18,000 for the agent.

Then, there are agent expenses to consider.

Expenses like a car payment, annual dues, errors and omissions insurance, MLS fees, office fees, transaction fees, signs, websites, cell phone, etc.

The bottom line?

An agent who closes only one million in sales is living way below U.S. the poverty level.

All of which is why real estate agents should remove those embarrassing Million Dollar Club license frames from their cars.

 

Boise Idaho Market Stats – January 2015

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

Boise Idaho Available Homes

  • # Available: 1,925
  • Average Asking Price: $319,392
  • Median Asking Price: $256,490
  • Months’ Supply: 2.9

Boise Idaho Pending Sales

  • # Pending: 878
  • Average Asking Price: $278,991
  • Median Asking Price: $235,715

Boise Idaho Closed Sales – January 2014

  • # Closed: 435
  • Average Sales Price: $238,269
  • Median Sales Price: $209,900

Boise Idaho Closed Sales – January 2015

  • # Closed: 430
    % Change: -1.1%
  • Average Sales Price: $252,131
    % Change: +5.8%
  • Median Sales Price: $222,150
    % Change: +5.8%

Data taken from Intermountain MLS on 2/10/15 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.

 

Meridian Idaho Real Estate Stats – January 2015

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

Meridian Idaho Available Homes

  • # Available: 547
  • Average Asking Price: $272,310
  • Median Asking Price: $259,224
  • Months’ Supply: 3.3

Meridian Idaho Pending Sales

  • # Pending: 258
  • Average Asking Price: $255,731
  • Median Asking Price: $231,269

Meridian Idaho Closed Sales – January 2014

  • # Closed: 127
  • Average Sales Price: $234,419
  • Median Sales Price: $223,500

Meridian Idaho Closed Sales – January 2015

  • # Closed: 107
    % Change: -15.8%
  • Average Sales Price: $255,111
    % Change: +8.8%
  • Median Sales Price: $247,000
    % Change: +10.5%

Data taken from Intermountain MLS on 2/10/15 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 twelve months.

 

Eagle Idaho Real Estate Stats – January 2015

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

Eagle Idaho Available Homes

  • # Available: 284
  • Average Asking Price: $514,238
  • Median Asking Price: $428,500
  • Months’ Supply: 4.8

Eagle Idaho Pending Sales

  • # Pending: 103
  • Average Asking Price: $455,411
  • Median Asking Price: $415,000

 Eagle Idaho Closed Sales – January 2014

  • # Closed: 38
  • Average Sales Price: $387,303
  • Median Sales Price: $350,000

 Eagle Idaho Closed Sales – January 2015

  • # Closed: 43
    % Change: +13.1%
  • Average Sales Price: $372,440
    % Change: -3.8%
  • Median Sales Price: $327,000
    % Change: -6.6%

Data taken from Intermountain MLS on 2/10/15 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 twelve months.