Real Estate Market Update July 2016
Posted by Lisa Kohl on Sunday, August 7th, 2016 at 6:31pm
Boise home prices are holding steady. Last month home sales hit a multi-year high and available homes for sale hit a multi-year low. Overall we are still very much in a seller's market. The inventory of homes remains extremely low, and demand remains high, particularly below $200,000. July 2016 housing market summary:
- The median list price decreased to $229,496 in July (up 9.36% from 12 months ago)
- The median home price decreased to $228,000 in July (up 8.62% from 12 months ago)
- Total home sales decreased to 533 in July (up 4.10% from 12 months ago)
- Median days on market remained unchanged at 8 days in July (down five days from 12 months ago)
- Available homes for sale increased to a 1.59 months supply in July (down 38% from 12 months ago)
- 30-year mortgage rates decreased to 3.44% in July (down from 4.05% 12 months ago)
*Includes both new and existing home sales.
Local Real Estate Markets in July
Ada County
- Median List Price $353,000
- Median Sold Price $353,000
- Days on Market 39
- Total Sold 1,135
Eagle, Idaho
Home prices are up 4.93% in Eagle YTD.
- Median List Price $416,950
- Median Sold Price $409,388
- Days on Market 25
- Total Sold 96
Kuna, Idaho
Home values are up 9.43% in Kuna YTD.
- Median List Price $178,900
- Median Sale Price $178,950
- Days on Market 8
- Total Sold 66
Meridian, Idaho
Meridian is the fastest growing city in Idaho. 36% of the new construction homes being built in Ada county are in Meridian. Overall home values are up 3.66% YTD.
- Median List Price $249,000
- Median Sold Price $249,900
- Days on Market 13
- Total Sold 287
Star, Idaho
Star home prices are up 3.71% YTD.
- Median List Price $267,731
- Median Sale Price $267,731
- Days on Market 14
- Total Sold 40
Canyon County
- Median List Price $163,950
- Median Sale Price $164,301
- Days on Market 33
- Total Sold 422
Caldwell, Idaho
Home prices are up 12.33% in Caldwell YTD.
- Median List Price $149,900
- Median Sold Price $149,900
- Days on Market 15
- Total Sold 101
Middleton, Idaho
Middleton home values are up 8.97% YTD.
- Median List Price $196,945
- Median Sold Price $200,600
- Days on Market 18
- Total Sold 24
Nampa, Idaho
Nampa home prices are up 11.82% YTD.
- Median List Price $165,000
- Median Sold Price $164,900
- Days on Market 8
- Total Sold 207
Lisa Kohl
Lisa Kohl is a professional Realtor in Boise, Idaho. Questions about the local real estate market? Contact us online or call (208) 391-4466.
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