Boise real estate market | Boise ID Foreclosures

June 7, 2014

Boise Foreclosures Drop to 6% | May 2014

Boise, Idaho foreclosures dropped to 6.4% in May of 2014, the lowest foreclosure rate seen in years. Since February of 2014 the foreclosure rate has dropped by 10%; averaging a 3% decrease each month. In May of 2012 the foreclosure rate was 26.2%, last year it fell by 15% and this May by about 5% from the previous year.

Between 2013 and 2014 (shown above) you can see that there has been a consistent decline of foreclosures into the warmer months of the year hitting with a kind of plateau between May and December.

There were 451 homes sold in Boise, May of 2014, slightly higher than the number of homes sold last year and 30% more than in 2012. The graph above characterizes a similar trend in home sales between 2014 and 2013, only varying by 3%.

Of the 451 homes sold in Boise, May of 2014, 93% were non-foreclosures, 4% bank owned/HUD, and the remaining 3% short sales. Traditional home sales increased by 31% in May and by 137% from the beginning of the year. Although this is a notable increase, historically sales increase into the warmer months of the year, usually peaking through the summer. As non-foreclosures have increased this year, foreclosures really have not, if anything decreased in the last several months.

Below you can see that there were 90% more bank-owned/HUD homes sold in May of this year than short sales; also only accounting for 3% of all real estate sales. You can see that there is a similar trend throughout the year with an average of 100% more bank-owned/HUD homes than short sales in 2014.

December 13, 2013

Boise Foreclosures | 2013 vs. Previous Years

The foreclosure rate in Boise has continued to drop significantly this year (in addition to the decline we saw last year). January of 2012 started off with a high of a 59.2% foreclosure rate, and dropped all the way down to 23.3% in December. Just one year later, the foreclosure rate has been at a consistent low for the last few months of around 10%. On average in the last two years, the foreclosure rate has dropped 73%, and 59% since 2012. The average foreclosure rate in 2011 was 48.2%, and in 2012 it dropped to 31.7%; the average this year has been 13%.

Boise Foreclosures '11-'13

As you can see in the graph below, short sales accounted for a higher percentage of foreclosures than bank-owned and HUD. This year there have been 257 short sales and 204 bank-owned/ HUD homes sold. On average each month in 2013, short sales accounted for about 9% of real estate sales and bank-owned/ HUD about 6.7%. Combined, 15.7% of this years real estate sales have been either short sales or bank-owned/HUD.

Boise Foreclosures by type '13

Below shows the complete breakdown of real estate sales in 2013. As traditional sales hit their peak mid summer, short sales and bank-owned/ HUD homes did not increase with that climb; instead continued to decrease slightly. In comparison to traditional home sales, short sales and foreclosures have stayed relatively low all year, with decreases since August. The highest was 25.9% of home sales in January and have stayed around 10% the last few months.

Boise Foreclosures by Type '11-'13

Disclaimer

February 22, 2012

Boise Idaho Foreclosures | 2011 vs 2010

There were more Boise Idaho foreclosure sales (short sales, bank-owned and HUD properties) in 2011 than 2010. The areas with the largest increase in foreclosures were West Boise/Garden City with a 34% increase, and the Boise Bench with a 40% increase. The only areas having fewer foreclosures in 2011 than 2010 were North Boise with -13%, Garden City with -12%, NE Boise with -9%, and SW Boise/Meridian with -2%. Boise Idaho foreclosures in the remaining areas–South, SE, West and NW–increased between 20% and 26% in 2011.

Boise Foreclosure Sales by Area | 2011 vs 2010

As can be seen in the graph below, non-foreclosure sales for 2011 increased throughout Boise, with the largest increases being in SW Boise/Meridian and NE Boise. Whereas these two areas showed slight decreases in Boise Idaho foreclosures in 2011, the number of non-foreclosure sales in 2011 for these two areas increased over 2010 by 79% and 78%, respectively.

Boise Non-Foreclosure Sales by Area | 2011 vs 2010

The Boise Bench, NW and W Boise all showed increases between 20% and 28% over 2010, while South, SE and W Boise/Garden City showed increases between 10% and 14%. The remaining two areas, Garden City and North Boise, while showing decreases in foreclosure sales in 2011, stayed fairly consistent with 2010 non-foreclosure sales.

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January 12, 2012

Boise Idaho Foreclosures | 2011

The number of Boise Idaho foreclosures sales were higher for the first eight months of 2011 than for 2010. However, beginning in August 2011, the number of foreclosures in Boise, Idaho showed a steady decline through the end of the year. This is a vast improvement from earlier in the year when foreclosures were as high as, or higher than, any other time in the last 2 years.

Boise Foreclosures | 2010 and 2011

As can be seen in the graph below, the market share of Boise Idaho foreclosures in 2011 were lower than 2010 levels for the last half of the year. According to Boise market statistics, in June 2011, the market share of Boise foreclosures dropped below 50% for the first time since November 2010.

NE Boise holds the lowest market share with 11%, followed by North Boise and SE Boise. The remaining areas are closely spaced, ranging between 45% and 54% of the Boise foreclosure market share.

September 4, 2009

Boise Idaho Foreclosures | August ’09

Boise Idaho Foreclosures accounted for 29% of home sales in August. There were 32 Boise short sales (12%) and 47 Boise bank-owned sales (17%) as shown in the graph below.

August Boise Idaho Foreclosures

Some areas of Ada County are influenced more heavily by foreclosures than others. As you can see below, the Boise Idaho foreclosure market had the second lowest market share (29%) while Eagle had the highest (53%). This Boise foreclosure market share is about even with the previous three months.

Boise ID August Foreclosures

In the Boise real estate market, 273 homes sold during the month of August, this number is only a bit less than the previous two months when 309 homes sold in July, and 303 homes sold in June. In August, the median home sold price was $171,500 and the average home sold price was $201,234.

Boise Foreclosures

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Information deemed reliable but not guarenteed.