Even after a real estate contract is signed, sealed and delivered the deal is far from over.

When buying a home or selling a home- there’s no such thing as a done deal until the transaction is funded and recorded with the county. As real estate agents, we’d love nothing more than to see clients dance their way to the closing table. The reality is that many real estate transactions hit the fan before close. Many times for reasons you might not have thought about.

Idaho is a single contract state. Unlike in some areas, the initial Purchase and Sale Agreement is the only contract that spells out the entire agreement. As a buyer, you are committing yourself before the seller has even seen your offer. As a seller, you can agree to the purchase price

The Boise real estate summary for February:

• The median list price increased to $209,000 (up 10.88% from last year)
• The median home price increased to $207,000 (up 11.89% from last year)
• Median days on market decreased to 24 days (down 33% from last year)
• Available homes for sale increased slightly to a 1.60 months supply (down 58% from last year)
• Mortgage rates decreased to 3.64 percent

Current Home Prices

February’s Boise median home price was $207,000 that’s an increase from $194,000 last month. That is a 3.5 percent increase from last year.

Existing Home Sales

In the Boise, Idaho we saw a total of 263 homes sell. Last month there were 209 homes that were sold. For the same month last year, 244 homes were sold.