My previous post, earlier this week, was about Boise real estate listing inventory.
Today’s post includes a comparison of July 2014 closed sales vs. May 2013 closed sales.
Why July 2014 vs.May 2013?
I chose May 2013 because that was the peak of our market activity with minimal listing inventory and strong buyer activity.
And, I chose July 2014 because it’s the most recent full month’s data.
Most agents would agree that we’ve seen a gradual, steady decline in activity for most market segments since May 2013.
Boise Real Estate Closed Sales: May 2013
- # Closed: 852
- Average Sales Price: $236,647
- Median Sales Price: $194,447
Boise Real Estate Closed Sales: August 2014
- # Closed: 850
- Average Sales Price: $249,214
- Median Sales Price: $213,392
- These numbers indicate that the number of closed sales is essentially unchanged.
- These numbers also confirm that our rate of appreciation has slowed considerably vs. what we were experiencing in 2012 and 2013.
- As stated in my previous post, our market is leveling off after a strong recovery from our April 2011 bottom when the median price hit $135,000.
- Our current $213,392 median price represents a 58% increase since “the bottom” in April 2011.
Data pertains to Ada County single-family homes on lot or acreage. Data does not include condo or townhome properties.