market: January Home Sales in Ada County - 02/06/09 06:08 PM
I just got my latest newsletter out, and here is the most recent real estate update I sent to my friends and past clients...
As expected, January usually sets the low mark for the year for Ada County home sales and that is true again for 2009.  Single Family Homes sold in January were a meager 237, a 23% decline from January 2008.  Remember that I mentioned in the December newsletter that last year we started the year with a 38% decline, so you know I am looking for bright spots.  Traffic at Open Houses and individual showings have both been … (0 comments)

market: Ada County Sales for July - 08/14/08 02:29 PM
In normal years past we've usually seen the highest monthly sales during the month of June or July. It appears that our market has settled down to a normal flow, even if the total sales figure is smaller than we'd like.  Single Family home sales in Ada County for the month of July were 489.  That is from early numbers, and they might find a few more reported in the next week or so.  That is slightly below June, which looks like a normal sales pattern.  I mentioned last month that the percent below a year ago was better at 25%, … (0 comments)

market: Ada County Sales For June - 07/21/08 11:37 AM
Another modest improvement for Single Family home sales in Ada County for the month of June continues our string of higher sales numbers.  There were a total of 535 SF properties sold during the month.  Last year there were 710 sales for June.  The bright spot of that comparison comes while looking at the trend, which also continues to improve.  Remember that our declines are getting smaller each month, going from a 42% decline at the beginning of the year to a 25% decline in June.
Another trend to watch is the number of homes currently listed.  As expected, this number … (0 comments)

market: Ada County Home Sales For April - 05/05/08 12:33 PM
The most frequently asked question right now is "Are any houses selling?"  Some folks seem surprised when I tell them, yes, homes are selling in the Treasure Valley right now.  Definitely not on the same pace as two summers ago, but better than we saw over the winter.  In fact, the 460 homes that sold in Ada County in April is the best showing we've had since August last year, when the mortgage lending problem happened.  Year over year, April '08 was 34% below '07, but we've been 38 to 42% below in recent months.  For the valley as  a whole, … (0 comments)

market: Ada County home Sales For March - 04/21/08 10:07 AM
Single Family home sales in Ada County increased in March, climbing back over the 400 unit level, with 430 sales closed for the month. Last year's 711 units was the third highest March on record, so the comparison is tough. And while 430 is still a fairly weak number, it is well over January's low of 302. The sales numbers are proving out what agents have been saying, that traffic and buyer interest is increasing. 
Also interesting and encouraging for the month is another strong increase in the pending contracts figure. We are starting April with 694 contracts pending, well up … (1 comments)

market: Ada County Home Sales for February - 03/07/08 01:37 PM
Single family home sales in Ada County rose to 371 units in February over January's 302 units.  Median listing price was $206,990 while median sold price was $203,000.  Here is a good place to take a closer look at "median price".  In January, the median price was $217,500.  Does that mean that home prices fell by $14,500?  Not at all.  It simply means that in January we saw more higher end homes sold than in February.  Certainly, prices are not what they were two years ago.  But we did NOT just lose 7% in one month.  Remember  that  when you read … (3 comments)

market: Ada County Home Sales in January - 02/04/08 06:08 PM
As beautiful as it is, the snow has definitely added to the chill on the Treasure Valley real estate market this January.  Only 302 Single Family homes sold in all of Ada county during the month, down from 464 a year ago.  The Valley as a whole saw only 434.  There is just no way to spin that into good news, especially if you are a seller.  Inventory has stopped decreasing as well.  There were 3898 active SF listings in Ada this morning, which is nearly identical to the level we had at this time last February.  In talking to other … (1 comments)

market: Taking a Closer Look - 01/14/08 07:38 PM
I wanted to make a little closer look at the numbers for last year, now that we're into January.  In Ada County we finished 2007 -34% in homes sold compared to 2006, and off 33% in total sales dollars.  For the year, the median price was off 2%, most of which happened in the last few months as the mortgage problem reared its head and gave us all fits in the Fall.
I've mentioned New Construction inventory being steadily worked through, and that our area hadn't overbuilt to the same degree seen in other markets in the country.  The end of the … (1 comments)

market: December Ada County Home Sales - 01/03/08 02:52 PM
As expected, December home sales have come in as the lowest in 2007.  Single family homes in Ada County for the month totaled 372, according to MLS data.  That compares quite favorably to November's 388, but it is still 38% fewer than December a year ago, and for the year leaves us down about 36% compared to 2006.
The bright spot in the latest numbers is again the decreasing number of active listings.  This morning there were 3781 homes listed (not counting condos, townhomes, or properties with acreage).  This is the lowest inventory we've seen in a year, and marks 5 months … (0 comments)

market: 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)

market: Eagle and Lexington Hills - 11/13/07 05:26 PM
I received a comment on a blog post last week, asking about the current market in Eagle.  "Eagle" has some of the widest variation in different real estate possibilities of any municipality in the Treasure Valley.  I asked the commenter if he would narrow it down a bit for me, and he said the Lexington Hills area would be representative of the type of properties he was interested in.  He was curious about how the market is these days.
Currently, there are 373 Single Family properties for sale in Eagle.  24 of those are in Lexington Hills, with prices from $264K up … (1 comments)

market: October Ada County Sales - 11/06/07 11:59 AM
October home sales in Ada County rebounded slightly from the barely 400 units in September.  There were a total of 455 Single Family homes closed during the month.  For the year to date, 6059 homes have been sold in the county, as reported to the MLS.  If you consider Fall of 2005 as the rough top of the run up, then on a yearly basis unit sales are off almost 38% compared to 2005's 9746, 31% compared to 2006's 8783.  Quite a correction, but a needed one.  No market can stay healthy if the kind of excess we saw in late … (1 comments)

market: September Ada County Sales - 10/09/07 01:33 PM
It appears that people are waiting to see what happens now, in our local real estate market.  September sales set a new low for the year, even below January sales.  Ada County Single Family sales were only 412 units for the month of September.  That is well below last September's 710 units, and yes, even below January's 469.  You have to go back to January of 2004 to find a lower monthly figure.
I believe there are a couple of things happening here.  As I said, many are waiting to see what happens.  Our economy is good.  Interest rates are good as … (0 comments)

market: August Ada County Sales - 09/11/07 05:53 PM
The problem in the mortgage market in the early part of August is reflected in the latest sales figures for Ada County Real Estate.  As you might remember, at the beginning of the month a couple of large lenders abruptly closed their doors, leaving many borrowers stranded without funding.  Not all of those deals were saved, apparently.  Sales of Single Family Homes (not counting acreage, townhomes, mobiles, or condos) at 656 units were a bit below July's weak 667 number, continuing the trend we've watched since April.  This makes March our high month of the year, which is very unusual.
Another sign … (0 comments)

market: 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)

market: July Ada County Home Sales - 08/03/07 05:05 PM
Well now, this is not what we had expected.  Single Family home sales in Ada County in July were surprisingly weak.  Right now, the MLS is showing only 678 closed sales for July (not including townhomes and condos, or homes with acreage).  That is far below last year's 903, and only 61% of the 1100 sales recorded as the boom was going off in 2005.
This explains the rise in inventory we've been watching over the last few months.  There are currently around 4771 active listings here in Ada county.  That number might rise in the next few days, as many of … (0 comments)

market: 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)

market: North End Boise Home Sales - 06/22/07 10:40 AM
I received a request from Dave in the comments section yesterday, asking how home sales were in Boise's North End this year compared to last year.  Interesting request, so I took a couple minutes this morning to check on sales figures.  My "sense" was that sales were still pretty good over there.
So, to check my sense against what's really happening, I used a broad search for closed sales in area 0100 - North Boise.  I'm sure Dave means the "classic" North End, the area north of State Street, around Harrison Blvd and the Hyde Park area.  I could have done a … (2 comments)

market: Hunter Pointe Meridian - 06/21/07 04:06 PM
Hunter Pointe is a community of 290 homes, built in the mid-90's.  It sits just north of the Meridian city center, west of Locust Grove and north of Fairview.  The neighborhood's great location close to schools and shopping, along with the good sized lots (0.18 to 0.23 acre) and a variety of home styles by multiple builders, has kept the property values in the neighborhood a bit more firm than some other areas of the county, and certainly better than much of the nation. 
There have been 4 homes sold since January of this year (one a month but for February), with an average price … (0 comments)

market: Meridian Real Estate Update - 06/20/07 09:07 AM
Here we are in the middle of June already!  I thought it would be a good time to check out how the real estate market has been going so far this month, and in this post I'll just look at what's going on in Meridian.
At the end of last week in the MLS, there were 1537 Single Family Residential listings active for Meridian.  That doesn't count condos or mobiles or townhomes (unless someone listed them SF...grrr!).  The low price is $109,000 and there is one at $1.6million.  The average, however, is $314,402, with a median price of $289,450.  Average and median are … (2 comments)

 

Bill Williams

Boise, ID

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Coldwell Banker Tomlinson Group

Address: 4720 Emerald, Boise, ID, 83706

Office: (208) 377-2310

Mobile: (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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