The Boise Valley Real Estate Market is not define-able in General Terms. If you listen to the National Media or even local media you will hear that prices are continuing to fall here and Nationwide.
What they fail to mention is their statistics are based on MEDIAN Price which is not only superfluous but actually quite mis-leading. Consider that today's buyers are not only considerably more conservative in their purchases (causing a drop in Home sale prices) but they are also in a major Buyer's market with an attractive supply of distressed property to choose from. (While the distressed properties are usually not optimal RE-SALE INVESTMENTS - they do in fact have a very negative impact on the overall statistics)
Statistics from this Summer 2011 are interesting and show a snap shot of where we actually are compared to Media Hyper Headlines:
** a 6 Months supply is considered normal Nationwide **
North - North East - South East months supply:
$100k - $200k = 4.13 Month supply
$200k - $300k = 5.7 Month supply
$300k - $400k = 6.76 Month supply
$500k - $600k = 12.3 Month supply
Above $600k = 12 -17 Month supply
West Boise :
$100k - $200k = 4.5 Month supply
$200k - $300k = 7.5 Month supply
$300k - $400k = 9.5 Month supply
Above $500k = 12 Month supply
South Boise - South Meridian:
$100k - $200k = 4.6 Month supply
$200k - $300k = 6.6 Month supply
$300k - $400k = 8 Month supply
Above $400 = 12+ month supply
North Meridian :
$100k - $200k = 4.5 Month supply
$200k - $300k = 4.5 Month supply
$300k - $400k = 6.2 Month supply
Above $400k = 36 month supply
Eagle :
$100k - $200k = 4 Month supply
$200k - $300k = 7.6 Month supply
$300k - $400k = 4.5 Month supply
$400k - $500k = 7.2 Month supply
$500k - $600k = 13 Month supply
$600k - $800k = 11.8 Month supply
Above $880k = 18 Month supply
For a deeper understanding of what the above Boise Valley Market statistics mean to you in Real Time Terms please click on Blogs in main menu and read "Dale's from the Trenches" Analyse of the Boise Valley Market Summer of 2011
