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BOISE ID RENTAL VACANCY DOWN, REAL ESTATE SALES UP

Vacancy Rate and Rental Renewal Efforts:
First Rate Property Management's current vacancy rate is 2.1%, down from last years numbers at this time at 2.6%.  One reason our vacancy rate is lower is because of the lease renewal efforts.  In the 2011 January through April time frame we had 205 leases ending and renewed 97 of them, a 47% retention rate.  This year in the same time frame we had 171 leases ending and renewed 106 of them, a 62% retention rate.

The graph below shows the vacancy rates for the last three years.

 

 

 

 

 

 


Boise Rental Investment Sales Market:
The sales market also continues to improve for both single family and smaller multi-family buildings. It’s a great sign to once again see so many construction vehicles on the road pulling equipment or trailers headed to a build job. To get an idea of what's going on, I thought I would share some of my own activity for the past 8 weeks through Swope Investment properties.

 

Type
Location
Age
Price
Status
Duplex
BSU
1997
$249,900
Active
Home
Meridian
1998
$139,900
Active
Duplex
North End
1941
$168,900
Active
Home
West Boise
2002
$159,900
Active
4 Plex
Meridian
1971
 
Coming Soon
Home
Meridian
2003
 
Coming Soon
4 Plex
Boise Bench
1993
 
Coming Soon
Duplex
Boise Bench
1993
 
Coming Soon
4 Plex
North End
1905
 
Coming Soon
4 plex
Meridian
2012
$295,000
Pending
4 Plex
Meridian
2012
$295,000
Pending
4 Plex
Meridian
2005
$314,900
Pending
4 Plex
Meridian
2008
$305,000
Pending
Home
Meridian
2005
$134,900
Pending
4 Plex
Boise Bench
1992
$228,000
Pending
Duplex
West Boise
1964
$244,900
Pending
Home
Kuna
2005
$120,000
Pending
Home
Kuna
2006
$115,000
Pending
4 Plex
West Boise
2004
$274,900
Pending
4 plex
West Boise
1994
$279,900
Sold
         


Posted by Robert Waldron for:

Tony A. Drost
http://www.frpmrentals.com/
http://www.boiseinvestmentproperties.net//
First Rate Property Management, Inc
Boise, ID

 

 

 

 

 

05-23-2012
Tony Drost
Boise Area Rental Market
08-29-2016

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