Boise Real Estate - The Numbers

The Boise real estate market is changing everyday and it is important to stay up on the numbers. One way to know your numbers is to look at last year vs. this year when it comes down to the numbers so you can see the trends of the market.

In a market like we have now in Boise (not including Meridian, Eagle, or Kuna) there are 4,925 available homes with over 2500 of them being vacant. With fifty percent of the homes vacant, you are sure to find some steals. That is great for buyers because that usually means that the owners of the vacant homes will be more likely to negotiate on the price of the home. An occupied home will typically sell for higher than a vacant home because of this fact and occupied homes tend to sell higher because of the "staging" of the home.

At the average price of $280,250, there are 638 homes that have an offer on them but have not yet closed. That is a pretty high average compared to the yearly stats for sold prices in Boise.

There has been 425 homes that have successfully sold in the past month as well with an average sales price $282,588. That number is down about 25% from last year at this time. When you look at the supply vs. demand, the buying deals are even better than last year. This trend is pretty consistent through the Treasure Valley market.

So when you are looking to buy some Boise real estate make sure that you have a buyer agent on your team that will be able to provide you with the numbers to help you make a great buying decision.

I recently found a 7,500 sq foot home that is owned by the bank now but was originally listed at 1.1 million with the original owner and is now active at just $00.000 in an excellent subdivision on a golf course. This isn't the everyday deal, but if you are patient enough you can find these. There are some excellent purchases available and this is just an example of one.

Chances are that if you are looking for a home that is $200,000 or so, you can find it for 170k or so depending on the bank and what they are willing to part with.

To take advantage of these great deals, make sure that you employ an experienced buyer's agent that can walk you through the process on these homes. Happy House Hunting!


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