BrokerageIndustry News

It’s a seller’s real estate market in Boise

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Metro Boise home sales in August jumped 30.7 percent on a year-over-year basis, to 1,180 properties, amid a seller's market. Even so, home prices continue to sag under the weight of distressed properties across the region. Short sales and bank-owned properties account for nearly half of all home sales. At the same time, more than a third of homes with mortgages were underwater in the second quarter of 2011, according to CoreLogic, a real estate research firm. This report highlights real estate market statistics and trends in the Boise metro area and includes a chart with detailed market data and commentary from local real estate professionals. Overview The average August sales price of an existing home in the greater Boise region fell 3.8 percent compared to a year ago, to $149,095, according to statistics from the Intermountain Multiple Listing Service. Home prices are squeezed by a glut of distressed properties across the Treasure Valley -- which includes Idaho's two lar...