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monthly sales: Boise Area Home Sales and Prices - 11/28/08 09:56 AM
In September we saw an increase in closed sales over the year before. It was a situation that the local and national papers heralded as very good news for the troubled housing market. I even heard one local radio real estate show suggest we'd see a strong rebound in October, November, and December. I warned that the number could also be due to the big mortgage stumble in August of 2007. So, how did we come out in October? Did we pass the bottom, or was it just a hiccup?
Ada County home sales for October come in at 409 for … (4 comments)
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monthly sales: November Ada County Home Sales - 12/07/07 04:57 PM
Preliminary numbers from the MLS this morning show that total sales in Ada County for November fell back again to roughly September's levels. There were only 388 closed sales recorded for the month, which is a new low, and fewer than I had expected. The bright spot in the report is that inventory continues to fall, as more homes are sold or simply taken off the market. Right now there are 4275 Single Family homes listed in Ada County, down from 4604 in October, and well off the summer high which was over 5100 homes! And as the market slows down … (0 comments)
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monthly sales: What is "normal"? - 08/29/07 05:16 PM
I had an out of state resident contact me by email the other day about the state of the Idaho real estate market, and in particular, the market around here in Meridian and Boise. They had two questions for me, one, how are sales? And two, when will the market get "back to normal"?
The first question is fairly easy to answer. Homes are still selling, but the number of buyers in the market right now is not what we've seen in the past two years. Price is particularly important, with condition a close second. There are a very large number of … (0 comments)
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monthly sales: June Ada County Home Sales - 07/02/07 03:47 PM
Now that summer is under way, and we've all had a chance to watch home sales another month, we have a little better idea of where the market is here in Ada County. In a word, it has been "underwhelming". Single family home sales for June are looking to finish at 764 units, comparing to 738 in May. That is a less than normal increase over the May number, and quite a bit less than last year's near record 1102, a 31% decrease.
Breaking those numbers down a bit, we find that existing homes are still selling a bit more strongly than … (0 comments)
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monthly sales: May Ada County Home Sales - 06/04/07 11:36 AM
We all knew it was coming, but it is still disappointing when it actually gets here...we've known that last May and June were the peak of our market last year, and that this year's numbers would look bad no matter what they were. They do...
Last year in May there were 1120 Single Family homes sold in Ada County, which made it the #1 May on record. This year we had 738, or 64% of last year's sales. So for a month that seemed to start strongly, the softness of the last week or so is a bit of a let down. … (0 comments)
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monthly sales: April Ada County home Sales - 05/04/07 10:41 AM
Ada County Idaho single family home sales for April finished at 662 units (listed in mls as single family, not townhomes or condos, though some of those do get listed as SF). That dissapointed me a bit, as I was expecting to finish close to 700. Last year there were 832 closed sales in April, so we are well off that pace. This was about when the hot market began noticeably sputtering last year.
To follow up on last week's post about existing vs new construction, it is interesting to see that existing home sales were actually better than last year! This year in April there … (2 comments)
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monthly sales: Ada County Existing Home Sales - 04/27/07 10:39 AM
We all know the old saw about truth, lies, and statistics. We also know that real estate is local. One of the headlines over at Mortgage News Daily is "Existing Home Sales Drop at Fastest Rate in 18 Years". The article states that new data "mudd(ied) the real estate waters even further". They report that the existing home sales pace was 11.3 percent behind a year ago. Gloom and doom, gloom and doom...
Here in Ada county I much prefer my own headline... "Ada County Existing Home Sales Stronger Than National Sales Numbers". For the month of April to date, we have … (0 comments)
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monthly sales: March Ada County Home Sales - 04/03/07 06:25 PM
Despite the many stories about the troubles in the subprime mortgage market and how it might affect the housing market, here in Ada County the sale of homes increased in March by 159 units over February. Intermountain MLS shows 708 Single Family homes closed in March, making this the first month over 700 since last Fall. This makes for the third best March on record, despite being well below last year's record 984. We still have a couple months of hard comparisons left however, as the market didn't run out of steam and peak until June last year. A little stutter … (0 comments)
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monthly sales: February Ada County Home Sales - 03/01/07 02:10 PM
Single family home sales in Ada County rose to 549 units in February over January's 503 units. Median listing price was $229,000 while median sold price was $223,735. At the moment there are 3681 active single family listings. That is a further improvement from January's inventory level of just over 3900. These figures do not include townhomes or condos, or single family with acreage. Pending sales figures are also good, with 852 showing currently.
Because of the way the market ramped up in early 2005 and 2006, year over year comparisons for the next four months are still going to be difficult … (0 comments)
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monthly sales: Can You See The Bubble? - 02/01/07 09:32 PM
I was asked recently if I knew how the latest numbers stacked up with previous years, and if I knew "how big the bubble was" here in Ada County.
After doing a little research I put together a very simple chart that shows the shape of our local real estate market over the last six years. I find it an interesting tidbit...
The chart shows the monthly sales units for Ada county Single Family homes. I've left the exact numbers off the chart because I had to use someone else's work for the earlier years, and because my interest here was in coming … (5 comments)
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Bill Williams
Boise,
ID
More about me…
Coldwell Banker Tomlinson Group
Address: 4720 Emerald, Boise, ID, 83706
Office Phone: (208) 377-2310
Cell Phone: (208) 921-9512
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Occasional posts about Boise, real estate, and things that catch my mind... I love it here, and sometimes I just need to tell you about it!
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