Boise Real Estate Market Numbers

Boise Real Estate Market Numbers
When you are looking to buy or sell, having access to the numbers is what may determine whether your are up or down $10k-$20k at closing. It is so true. The Boise real estate market changes at least weekly and every time one of your local agents close a deal, there are new comparisons to be made.
Here is the most recent numbers available to give you an idea of where the Boise market is today vs the first half of last year.
Average Sales Prices
* 2007 Average Sales Price: $283,250
* 2008 Average Sales Price: $262,855
* % Change: -7.0%
Active Listings:
* 2007: 4,979
* 2008: 5,042
Up 1%. Not too bad here, but remember the old rule of supply vs. demand. Boise has plenty of homes on the market so buyers should have some great deals out there to choose from.
Year to date Closed Sales: (# of homes sold)
* 2007: 4,012
* 2008: 2,896
* % Change: -31.3%
Median Sales Prices
* 2007 Median Sales Price: $237,150
* 2008 Median Sales Price: $208,750
* % Change: -11.3%
How many months would it take to sell all listings?
* 2007: 7.3
* 2008: 11.1
Even though these numbers don't look that great, you have to look at the buyer side of things. I have recently sold a few Boise homes that were well below market value because sellers have so much competition on the MLS. This includes Boise, Eagle, Meridian, Kuna, and Star in Ada county and Nampa, Caldwell, and Middleton in Canyon county.
Real estate is an ever evolving beast, but you have to keep up with the numbers to make sure that you buy and sell to get the biggest bang for your buck. Keep in mind that there are also some areas in the Boise real estate market that are not as slow as others, so don't expect the same type of deals from one section of the market to the other.
Ben Janke is a Idaho real estate broker that has written free real estate guides that you can access by clicking the following link Boise Real Estate

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Boise Real Estate Market Numbers

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Boise Real Estate Market Numbers