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Boise Idaho Real Estate Blog

Boise Real Estate Market Update April 2017

Treasure Valley homes spent fewer days on the market than just about any time in history.

In Boise median days on market fell to just six in April. Throughout the Treasure Valley, it is very much the same story for single-family properties. Ada County days on market dropped to a breathtaking nine from 21 in March. At the same time last year houses were selling in 14 days.

Day on market in Canyon County decreased to 9 in April from 26 the previous month. In April of 2016 homes were selling in 14 days as well.

According to the most recent data from national real estate brokerage Redfin, Denver, CO, and Seattle, WA, are the fastest-selling markets in the country. In both cities, the typical home was under contract in just eight days. The next fastest

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Boise Real Estate Market Update March 2017

The median price of single-family homes sold in Canyon County in March jumped 12.90 percent over the year to a new record of $175,000. The previous record was set in January of 2007 when home values hit $170,000.

In March of last year, the median Canyon County home price was $155,000.

No matter how you look at it, area home prices are up dramatically. While we have definitely seen a pickup in inventory, we are still much closer to record lows than any type of balanced market.

In Canyon County, the median days on market are 26. In other words, the amount of time between when the property is listed on the market until it goes pending is just under four weeks. Typically it takes an additional 30 to 45 days for the transaction to actually close. The home

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Boise ID Real Estate Market Update February 2017

The median single-family home price in Ada County hit a record $258,445 in February surpassing the previous high of $239,588 set in June of 2016. In February of 2016, the median sale price was $235,000. Home prices are up 9.98% over the previous 12 months. The median sales price is up 95.41% since hitting a near term low in March of 2011.

New construction homes were the biggest driver with prices jumping to $339,970 from $299,985 last year. There just isn't enough new construction being built to fulfill the demand. In 2005 we saw 4,849 new construction homes sell in Ada County. In 2016 just 2,604 were sold.

Resale homes finished the month at $224,500 up from $212,950 in February of 2016.

The lack of available homes for sale is the primary

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Boise Mid Century Neighborhoods

Between the 1950’s and 1960’s, there was a rebirth of home design that was based on clean lines, functionality, and distinction from eras past. Today home enthusiasts clamor at the chance to be able to own a home with some history and personality with a nod to a bygone era. Boise has distinct pockets and mid-century neighborhoods where these dwellings can be found. Whether you’re looking for a mid-century modern or a classic atomic ranch home we’ve put together the spots where you can find your next gem.

Boise Bench

Country Club Manor (Hillcrest)

The Hillcrest area is a Boise Bench classic and happens to be one of Bench’s most sought after areas. The neighborhood is situated alongside the Hillcrest Country Club which is one of Boise’s premier

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Boise Real Estate Market Update January 2017

Available inventory in Boise and throughout Ada and Canyon counties are at record lows. Based on months of inventory, there are just 1.13 months of available homes for sale in Boise. In Ada County, we saw available existing homes for sale drop to 644 in December. In January we saw available homes for sale drop to 561, 44.1% less than in January of 2016.

2017 is bringing little relief to homebuyers. A monthly report doesn’t adequately reflect how quickly properties are selling. Of the 315 homes that listed for sale in January, 174 are either pending or already sold. In other words, they never “appeared as active”. In Ada County that amounted to 673 new listing of which 327 went pending or sold before the end of the month.

March is typically the

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How to Make an offer on a House

Now more than ever a homebuyer needs to know how to make an offer on a home.

In the Boise, Idaho area we are experiencing a shortage of homes for sale and in most parts of the country this holds true. There just isn’t enough supply to meet demand in most markets. We are at a time when interest rates are still at historic lows and people are more confident in the economy, so we are seeing new buyers hit the market every week.

For those who have already been out searching for their new home, the reality of an inventory shortage means that not only are fewer homes available on the market, but they tend to receive offers quickly and in some cases receive multiple offers.

How making an offer on a house works

So what’s a buyer to do when faced

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Saving for a House Down Payment 5 Savvy Tips

It’s no secret that the cost of rent is on this rise- everywhere. If you find yourself cringing every time you send out that monthly rent check, chances are the thought of buying a home has crossed your mind at least once. So what’s stopping you? The biggest hurdle people face is the notion that it takes a lot of money to buy a home. Yes, you need some money to buy, but it may not be as much as you think and saving for your down payment may not be as hard as you think. Here are five easy tips for future home buyers on how to save for a house down payment.

Trim Your Expenses

Take a hard look at everything that comes out of your bank account. It may be scaling back on the satellite package or doing without a couple of lattes every week. It all

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Boise Real Estate Market Update December 2016

Boise, Idaho home prices finished 2016 with an 8.76% increase. After hitting a record high in June of $237,600 prices declined slightly in July. For the rest of the year, values remained unchanged to finish the month of December at a median value of $230,000.

At first, that might seem surprising considering the local market is still sizzling. The reality is, the only reason prices aren’t even high is due to the lack of supply. At the beginning of January Boise had approximately 500 homes for sale. Based on current sales this is the lowest inventory we have seen in nearly ten years.

Home buyers continued shopping for new homes through November and December with no real slowdown. Rising mortgage interest rates and tight inventory levels being the biggest

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Boise Real Estate Market Update November 2016

Total home sales in Boise for the month of November increased by almost 35% from the same month last year. 35% is a massive increase; the fact that it happened in November is even more astounding. While home prices typically hold steady during the fall months in the Boise, ID the number of homes sold usually drops.

Near record low levels of inventory in October encouraged last minute shoppers off the sidelines, particularly for those that expected to move into a new home before the Holidays. Buyers that had been looking for an extra bedroom have been more likely to forgo that in exchange for a more budget friendly price.

Despite the low supply of available Boise homes for sale, buyers have been benefiting from historically low mortgage interest rates.

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Holiday Home Safety Tips

As we cruise towards the Holiday Season here in Boise, calendars will soon be full of parties and celebrations. Many will take to the skies or the roadways to spend time with loved ones. No matter how you will be spending the holidays, we’ve put together a list of must haves and have-nots to keep you and your home from getting burned during this Holiday Season!

Protect Your Goods From Porch Pirates

Shopping online sure beats fighting crowds at the mall. More people are shopping online and having gifts and goodies delivered home more than ever before. Protect your loot from would be porch pirates by scheduling deliveries while home. In cases where that won’t work, opt to have a delivery signed for or ask a neighbor to keep an eye out once your

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