Tired of paying rent?
We make it easy for you to move from rent to own.
|
Low credit rating?
Here are some ways to raise your credit rating.
|
(208) 938-4032
Call today for HELP to move from rent to own. |
Treasure Valley Real Estate Analysis
Overall Description of the Target Real Estate Market
Sales by City
Average Days on the Market
Home Prices
Asking Price vs. Selling Price
Treasure Valley Real Estate Summary
Negotiating Prices in the Treasure Valley
Summary: Average prices have risen from $119 per square foot in January to over $126 per square foot in October and homes are still selling homes for over 97% of original asking price.
On aggregate, Treasure Valley home sellers are getting nearly 98% of their original asking price. While these overall numbers hide a lot of movement on individual transactions, these results do indicate that the perceived mass drop-off in pricing is just real.
Average Original Price vs. Selling Price Per Month
January |
Original Price |
$184,471 |
99.8% |
|
Sold Price |
$184,042 |
|
|
Original P/SqF / Sales P/SqF |
$119 / $119 |
|
February |
Original Price |
$182,238 |
99.3% |
|
Sold Price |
$180,905 |
|
|
Original P/SqF / Sales P/SqF |
$119 / $119 |
|
March |
Original Price |
$184,605 |
99.0% |
|
Sold Price |
$182,729 |
|
|
Original P/SqF / Sales P/SqF |
$121 /$121 |
|
April |
Original Price |
$186,555 |
99.5% |
|
Sold Price |
$185,566 |
|
|
Original P/SqF / Sales P/SqF |
$125 /$125 |
|
May |
Original Price |
$188,291 |
98.8% |
|
Sold Price |
$185,942 |
|
|
Original P/SqF / Sales P/SqF |
$127 /$127 |
|
June |
Original Price |
$187,880 |
98.9% |
|
Sold Price |
$185,853 |
|
|
Original P/SqF / Sales P/SqF |
$128 /$128 |
|
July |
Original Price |
$189,719 |
98.3% |
|
Sold Price |
$186,483 |
|
|
Original P/SqF / Sales P/SqF |
$129 / $128 |
|
August |
Original Price |
$188,513 |
98.3% |
|
Sold Price |
$185,337 |
|
|
Original P/SqF / Sales P/SqF |
$128 / $128 |
|
September |
Original Price |
$191,349 |
96.9% |
|
Sold Price |
$185,409 |
|
|
Original P/SqF / Sales P/SqF |
$126 / $125 |
|
Thru Oct 13 |
Original Price |
$189,116 |
98.1% |
|
Sold Price |
$185,481 |
|
|
Original P/SqF / Sales P/SqF |
$127 / $126 |
|
Original Price vs. Sales Price
The table above is not a very precise analysis. Averaging so many numbers masks a substantial amount of price negotiation on a deal by deal basis. The following pages provide a more in-depth look at sellers’ original price vs. the final sales price.
In this analysis, each transaction is accounted for and the sales price on that specific transaction is compared to the original listing price on that transaction. Those differences are tallied and averaged. Using that method, the average differences are listed below. As demonstrated below, the average amount that an individual seller cedes is currently about $5,500. However, even during the best market in recent memory (spring of 2006) sellers were giving back about $2,000 per transaction.
Original Price and Sales Price
Sales Price Minus Original Price |
Average Difference |
|
Overall |
|
-$2612 |
|
January |
|
-718 |
|
February |
|
-1456 |
|
March |
|
-1610 |
|
April |
|
-1458 |
|
May |
|
-2132 |
|
June |
|
-2027 |
|
July |
|
-3261 |
|
August |
|
-4098 |
|
September |
|
-5660 |
|
Thru Oct 13 |
|
-5507 |
Important Note: Before concluding that the market is falling dramatically, remember that prices per square foot have actually increased since January. The price differences are probably more a reflection of sellers’ inflated expectations than of a soft market.
The following page breaks down the numbers by various subgroups of homes.
Summary: Existing homes are discounted more heavily than new homes, Ada county homes (particularly Boise homes) are discounted more heavily than Canyon county homes.
This does not necessarily represent a depreciating market. It may also reflect “aggressive” sellers who are willing to “test the waters” a bit before settling on a final price. |
Difference Between Original Price and Sales Price: New vs. Existing
|
Overall |
New Homes |
Existing Homes |
-$2,612 |
Mean |
Mean |
|
January |
-718 |
1408 |
-1602 |
February |
-1456 |
-821 |
-1652 |
March |
-1610 |
-464 |
-1964 |
April |
-1458 |
-1728 |
-1373 |
May |
-2132 |
-2575 |
-2030 |
June |
-2027 |
-1524 |
-2134 |
July |
-3261 |
-3686 |
-3149 |
August |
-4098 |
-4178 |
-4078 |
September |
-5660 |
-4379 |
-6064 |
Thru Oct 13 |
-5507 |
-5073 |
-5625 |
Difference Between Original Price and Sales Price: Ada vs. Canyon County
|
Ada |
Canyon |
Mean |
Mean |
|
January |
|
-991 |
317 |
February |
|
-2058 |
342 |
March |
|
-2116 |
-550 |
April |
|
-1672 |
-1057 |
May |
|
-2219 |
-1949 |
June |
|
-2198 |
-1744 |
July |
|
-3839 |
-2238 |
August |
|
-4484 |
-3421 |
September |
|
-6786 |
-4309 |
Thru Oct 13 |
|
-6101 |
-4436 |
Difference Between Original Price and Sales Price: By City
Homes Sold (Jan-Oct) |
Boise |
Meridian |
Kuna |
Star |
Eagle |
Nampa |
Caldwell |
Middleton |
Emmett |
|
|
|
|
|
|
|
|
|
|
January |
|
-1258 |
-843 |
-225 |
-1759 |
-5900 |
634 |
302 |
-6400 |
0 |
|
February |
|
-2225 |
-1898 |
-2053 |
-1725 |
-3200 |
64 |
1701 |
-1800 |
-450 |
|
March |
|
-2545 |
-1441 |
-2763 |
-1600 |
-2482 |
-455 |
-702 |
-2860 |
100 |
|
April |
|
-1451 |
-1620 |
-2850 |
-333 |
-3350 |
-1049 |
-48 |
-2018 |
-5317 |
|
May |
|
-2604 |
-1784 |
-1983 |
34 |
-7267 |
-1776 |
-2457 |
-1934 |
-1997 |
|
June |
|
-2078 |
-2568 |
-1927 |
-671 |
-10500 |
-1610 |
-794 |
-4807 |
-5817 |
|
July |
|
-3915 |
-3923 |
-3492 |
0 |
-6300 |
-1811 |
-3149 |
-3095 |
0 |
|
August |
|
-4430 |
-4858 |
-3061 |
-5375 |
-5286 |
-3794 |
-2716 |
-2221 |
-1000 |
|
September |
|
-7070 |
-7319 |
-2376 |
-7702 |
-18000 |
-5421 |
-2311 |
-3825 |
-1120 |
|
