Posted by Chase Craig on September 27, 2011 at 12:09 pm
Kuna Idaho Real Estate: Denali Heights Subdivision Market Report
Click on the interactive map above for street view
Denali Heights Active Listings:
- Total Active Listings: 1
- Total Bank Owned or REO: 0
- Total Short Sales: 0
- Low List Price: $214,900
- High List Price: $214,900
- Average List Price: $214,900
- Months of Supply: 6 – Adjusted months of supply to allow for build jobs – 1.5 Months of Supply.
Denali Heights Pending Sales:
- Current Pending Sales: 1
- Low Pending Price: $269,000
- High Pending Price: $269,000
- Average Pending Price: $269,000
Denali Heights Closings:
- Sold transactions in the last 12 months: 2
- Closed Bank Owned or REO in the last 12 months: 1
- Closed Short Sales in the last 12 months: 1
- Low Sold Price: $312,000
- High Sold Price: $351,000
- Average Sold Price: $331,500
- Total Sold Lifetime: 18 (This number may seem low…particularly because there are more than 18 homes in Denali Heights. Many builders don’t report their pre-sold build jobs to the MLS).
Information Courtesy of Intermountain MLS 09/27/11
Over the last 12 months, Denali Heights has seen more growth then our tracking systems allows. If you go to www.cityofkuna.com you can see building permits for Denali Heights. In the Last 12 months, Denali Heights has had 6 building permits pulled, none of which were listed in the MLS. That puts 8 total sales in the last 12 months with only 1 home actively on the market. That is why the adjusted months of supply is 1.5 months. If you are looking to sell your home in Denali Heights, now is a prime time to consider it because in 45 days, there wont be any homes on the market.
Chase Craig
Kuna Real Estate Agent
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Posted by Chase Craig on September 19, 2011 at 11:52 am
Ada and Canyon County Active Listings as of September 19th, 2011
Inventory for Ada and Canyon County real estate is down 4% overall from July to August. This is largely due to the high sales volume in the Boise area and the lack of replenishing inventory. This is also the time of year that most equity sellers will decide to pull their home off the market and wait until Spring. I’m not positive about why exactly they do this, but keep that in mind if you are considering selling your Boise area home. There will be fewer homes to choose from which is always a good thing if you are listing your property. You can see that many of the non-distressed sales are no longer on the market at this time. We lost 472 non-distressed listings from August to September. You might take note that 470 equity closings took place in August which will account for a large part of the drop in inventory. We saw an increase of 22% in bank owned, HUD homes and REO’s. This is the first month we have seen an increase in bank owned inventory in Ada and Canyon county for about 5 months.
3,807 – Active Listings - down 160 (-4%) from August 2011
1,960 – Non-Distressed - down 472 (-19.4%) from August 2011
1,185 – Short Sales - down 54 (-4.4%) from August 2011
361 – Bank Owned, Auction, HUD Home or REO - up 65 (22%) from August 2011
Ada & Canyon County August 2011 Closed and Pending Sales
Closings were up 4.6% from July to August. It is always a good sign to see closings continuing to increase. This is a typical trend that you will see for the month of August as many people are trying to close prior to the school year starting.
987 Closings – up 43 (4.6%) from July 2011
470 Non-Distressed – up 29 (6.6%) from July 2011
336 Bank Owned, Auction, HUD Home or REO - down 7 (-2.1%) from July 2011
181 Short Sales – up 21 (-13.1%) from July 2011
581 Pending - up 68 (13.3%) from July 2011
248 Non-Distressed – up 8 (3.3%) from July 2011
211 Bank Owned, Auction, HUD Home or REO - up 15 (7.7%) from July 2011
124 Short Sales - up 47 (61%) from July 2011
Short Sales - One thing to note about June pending’s is that short sales are up more than 61% from July to August. There is an updated real estate form that allows participating Realtor members to ask for the seller to make the property pending status as opposed to contingent short sale status. Both status are typically subject to bank approval of the short sale, however the pending status requires the seller to no longer continue to market the property. If you are thinking of short selling your Boise home, be sure to ask your Realtor about this new addition to the short sale addendum.
Have any questions or comments about the August statistics for Ada and Canyon County real estate? Please leave a comment or contact me directly.
Have a wonderful day!
Chase Craig
Boise Real Estate Agent
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Posted by Chase Craig on July 13, 2011 at 9:39 am
Ada and Canyon County Active Listings as of July 12th, 2011
Inventory for Ada and Canyon County real estate is down 4.5% overall from May to June. Dominating the www.chasecraig.com headlines, never in the local or national news media however, has been the ever falling bank owned inventory numbers. This tells you that distressed properties in Ada and Canyon County are selling much faster than they are being replenished. This is due to a number of reasons including increased laws and regulations imposed on the foreclosure process which has halted the sale of many foreclosures as well as the banks resorting to renting properties out to would be short sale and foreclosure candidates. With less than 5 months worth of supply on the market, Ada and Canyon County real estate is a seller’s market. Remember, typically more than 6 months of inventory would be a buyers market and less than 6 months of inventory is a seller’s market. Want to find out what your home is worth and see if now is the right time to sell? Get a no obligation boise market analysis and home valuation today.
4,143 – Active Listings - down 195 (-4.5%) from May 2011
2,552 – Non-Distressed - down 59 (-2%) from May 2011
1,273 – Short Sales - down 80 (-6%) from May 2011
318 – Bank Owned, Auction, HUD Home or REO - down 42 (-12%) from May 2011
Ada & Canyon County May 2011 Closed and Pending Sales
Closings were up 8% in the month of June which is great news that some of the Boise short sales are actually closing. I’m really excited to see the number of non-distressed closings to increase over 23% month over month in June. Believe it or not, there are equity seller’s that are actually selling their homes in this market without foreclosing or short selling. As I said in last months stats, look for June REO closings to be down, due to the lack of replenishment of REO inventory. I don’t know whether that is good news or bad news at this point. If my theory is right, REO listings being down due to recent laws and regulations, we could be dealing with significant back log in ada and canyon county bank owned real estate. Even if there is a back log, the current market has a very strong appetite for $300,000 and under real estate, which is the majority of foreclosures. Frankly, we could use the additional inventory at this point. You can see that June pending’s are down sharp in large part due to the lack of inventory.
1,043 Closings – up 75 (+8%) from May 2011
458 Non-Distressed – up 85 (+23%) from May 2011
407 Bank Owned, Auction, HUD Home or REO - down 25 (-6%) from May 2011
178 Short Sales – up 16 (+10%)from May 2011
704 Pending - down 158 (-18.3%) from May 2011
318 Non-Distressed – down 89 (-22%) from May 2011
252 Bank Owned, Auction, HUD Home or REO - down 90 (-26%) from May 2011
134 Short Sales - up 25 (+19%) from May 2011
Short Sales - One thing to note about June pending’s is that short sales are up more than 19% from May. If you haven’t heard, the short sale process is significantly easier today than it has ever been. Bank’s have streamlined the process for a couple of reasons. It is much cheaper for a bank to short sale a home than it is to foreclose on that same home. The foreclosure process costs the bank a lot of time and money. The other reason that banks are eager to short sale properties and not let them foreclose is because someone who is short selling a home is much less likely to damage the home they are living in. This not only keeps the bank from having to take less money on a foreclosed home that is tore apart, it also helps keep market values higher in a real estate market where banks own many homes. Have questions about the short sale process or want to know if it would be appropriate for your situation? Call or e-mail me today.
Have any questions or comments about the June statistics for Ada and Canyon County real estate? Please leave a comment or contact me directly.
Have a wonderful day!
Chase Craig
Boise Real Estate Agent
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Posted by Chase Craig on July 6, 2011 at 8:30 am
Lochsa Falls Meridian Idaho
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Click on the interactive map above for street view
Lochsa Falls Active Listings:
- Total Active Listings: 22
- Total Bank Owned or REO: 2
- Total Short Sales: 12
- Low List Price: $129,000
- High List Price: $365,000
- Average List Price: $230,141
- Months of Supply: 5
Lochsa Falls Pending Sales:
- Current Pending Sales: 8
- Low Pending Price: $129,900
- High Pending Price: $289,900
- Average Pending Price: $221,950
Lochsa Falls Closings:
- Sold transactions in the last 12 months: 53
- Closed Bank Owned or REO in the last 12 months: 22
- Closed Short Sales in the last 12 months: 18
- Low Sold Price: $110,000
- High Sold Price: $352,500
- Average Sold Price: $213,892
- Total Sold Lifetime: 711
Information Courtesy of Intermountain MLS 07/05/11
Lochsa Falls neighborhood in Meridian Idaho is an absolutely beautiful community! With water features at nearly every entrance and a seemingly endless amount of common area, basketball courts, bike and walking paths and even a covered eating area near the play ground Lochsa Falls has something for everyone. Lochsa Falls is also located within walking distance of Meridian’s coveted Hero’s Park ran by PAL. As far as the statistics go, Lochsa Falls has been overwhelmingly distressed listings and sales for the past 12 months. Lochsa Falls current inventory consists of more than 50% short sales which has played a pivotal role in the pricing for the area. The good news is that the inventory levels have shifted to below 6 months (5 months of supply to be precise) which typically reflects a seller’s market as far as supply and demand is concerned. Look for the distressed properties to continue, but to clear out fast as this is still a very desirable community to live in Meridian, ID. Contact me today for a free market analysis and home valuation for your specific home.
Chase Craig
Meridian Idaho Real Estate Agent
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Posted by Chase Craig on July 3, 2011 at 8:11 am
NorthWest Meridian Idaho Active Listings and Market Statistics
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Click on the interactive map above for street view
NorthWest Meridian Idaho Active Listings:
- Total Active Listings: 298
- Total Bank Owned or REO: 9
- Total Short Sales: 104
- Low List Price: $58,000
- High List Price: $880,000
- Average List Price: $184,325
- Months of Supply: 4.2
NorthWest Meridian Idaho Pending Sales:
- Current Pending Sales: 120
- Low Pending Price: $59,900
- High Pending Price: $403,371
- Average Pending Price: $183,056
NorthWest Meridian Idaho Closings:
- Sold transactions in the last 12 months: 858
- Closed Bank Owned or REO in the last 12 months: 304
- Closed Short Sales in the last 12 months: 183
- Low Sold Price: $36,950
- High Sold Price: $805,000
- Average Sold Price: $162,324
- Total Sold Lifetime: 11,377
Information Courtesy of Intermountain MLS 06/30/11 – Active Listings and Sold’s less condo’s, townhouses and mobile homes.
NorthWest Meridian is a unique market in that scale has definitely tipped from a buyer’s market to a seller’s market. Obviously the prices and the rates are still very aggressive and make it very helpful for buyers in this market, but the supply and demand definitely favor the seller’s in Northwest Meridian. With just over 4 months of active inventory listed, it’s no wonder that homes priced right are getting multiple offers and often times getting bid up. Are you looking to sell your home in Meridian? Click the link for a free home valuation and market analysis or click the contact me button on the left. If you are looking to buy a home in Meridian, click the link to find the home of your dreams.
Chase Craig
Meridian Real Estate Agent
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