Boise Idaho Real Estate Blog

Real Estate Market Update June 2016

June brings a new record high for Boise home prices. Home sales hit a multi-year high in June. Available homes for sale hit a multi-year low. Overall we are still very much in a sellers market. The inventory of homes remains extremely low, and demand remains high. June housing market summary:

• The median list price increased to $239,000 in June (up 9.13% from 12 months ago)
• The median home price increased to $237,250 in June (up 8.58% from 12 months ago)
• Total home sales increased to 596 in June (up 5.49% from 12 months ago)
• Median days on market remained unchanged at 8 days in June (down five days from 12 months ago)
• Available homes for sale increased to a 1.48 months supply in June (down 38% from 12 months ago)
• Mortgage rates…

1870 Views, 0 Comments

Real Estate Boise Market Update May 2016

The higher level of available homes for sale in May kept home prices little changed from April. Overall we are still very much in a sellers market. The inventory of homes remains extremely low, and demand remains high. May Boise real estate summary:

• The median list price increased to $229,000 in May (up 9.05% from 12 months ago)
• The median home price increased to $227,522 in May (up 8.86% from 12 months ago)
• Total home sales increased to 513 in May (up 5.77% from 12 months ago)
• Median days on market increased to 8 days in May (unchanged 12 months ago)
• Available homes for sale increased to a 1.57 months supply in May (down 48% from 12 months ago)
• Mortgage rates decreased to 3.60% in May (down 0.24% from 12 months ago)

Local…

1798 Views, 0 Comments

Condo, Townhome or House – Advantages and Disadvantages

When it comes to buying a Boise home, some have visions of the quintessential single-family home, white picket fence and lush lawn. For others, that vision isn’t as appealing.

A condo or townhome, over a traditional single-family home, may be the best option when it comes to making your next purchase. Maybe spending weekends caring for a lawn and other home-related chores isn’t quite what you had in mind. Perhaps you crave a location that puts you close to all the things you love. Then here’s what you need to know about living in a condo or townhome.

What Type of Person Buys Condos and Townhomes?

There’s a simple way of describing living in a condo or townhome- lock it and leave. Let’s face it, people today are busier now than ever. Whether…

3012 Views, 0 Comments

Real Estate Boise Market Update April 2016

The current trend in April – higher home prices, low inventory of homes and extremely high demand. Boise real estate is more popular than ever. April housing market summary:

• The median list price increased to $229,450 (up 14.78% from last year)
• The median home price increased to $226,700 (up 13.35% from last year)
• Total home sales increased to 470 (up 12.71% from last year)
• Median days on market decreased to 7 days (down 50% from last year)
• Available homes for sale decreased to a 1.51 months supply (down 54% from last year)
• Mortgage rates decreased to 3.61 percent

Local Real Estate Markets in April

Caldwell, Idaho

• Median List Price $145,000
• Median Sold Price $144,900
• Days on Market 12
• Total Sold 111

…

1699 Views, 0 Comments

Do You Need a Realtor to Buy a New Construction Home?

I’m not going to tell you the Top 10 Reasons you need a realtor to buy a new home.

What I will do is explain how the sales process works from the builders perspective.

First an important distinction. Buying a new construction home bears little resemblance to purchasing an existing home beyond the fact there’s real estate involved. Not understanding the difference can cost you tens of thousands of dollars.

Who Does Your Realtor Really Represent?

When buying a new construction home in Idaho, the builder will be represented by a real estate agent 100% time (interesting isn’t). The Realtor has a fiduciary, moral and legal duty to represent their client. In this case the builder. That means getting the builder the best possible sales price and…

5770 Views, 0 Comments

Real Estate Market Update in Boise Idaho March 2016

The current trend in the Boise real estate market – higher home prices, low inventory of homes and extremely high demand. Boise Idaho real estate is more popular than ever. March housing market summary:

• The median list price increased to $220,000 (up 1.90% from last year)
• The median home price increased to $219,950 (up 2.38% from last year)
• Total home sales increased to 434 (up 8.77% from last year)
• Median days on market decreased to 15 days (down 42% from last year)
• Available homes for sale increased slightly to a 1.97 months supply (down 55% from last year)
• Mortgage rates increased to 3.71 percent ( up .01% from last year)

*Refers to March 2015.

Beginning this month we are we are combing new and existing home statistics…

1703 Views, 0 Comments

6 Real Estate Contract Killers You Need to Know About

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…

11931 Views, 0 Comments

Real Estate Market Update | February 2016

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.

…

1656 Views, 0 Comments

Real Estate Market Update January 2016

In January 2016 the Boise Real Estate Market saw lower mortgage rates and very few homes for sale. Keep in mind, home sales in January’s are around half what we typically see in an average month. The numbers are always going to be exaggerated. Let’s take a look at the real estate market numbers for Boise, Idaho:

• The median list price decreased to $195,000
• The median home price decreased to $194,000
• Median days on market increased to 33 days
• Available homes for sale increased to a 1.45 months supply
• Mortgage rates decreased to 3.79 percent

Boise Home Prices

The Boise median home price in December came in at $194,000. That is a decline from the $200,000 we saw last month. At this time last year, the median was $185,000.

…

1634 Views, 0 Comments

Most Expensive Homes Sold in Boise Idaho 2015

In real estate here in the Boise area, 2015 brought about many great things for both buyers and sellers. There were some stunning Boise luxury homes that quietly made their way off the open market and into the arms of new homeowners who are sure to enjoy some of the best pieces of real estate the Boise area has to offer. Offering square footage, stately lots and stunning views that would make any home buyer swoon. Join us as we revisit Ada Counties most expensive properties sold in 2015.

1) $4,900,000

With over 700 feet of riverfront in your backyard, in-ground pool and extensive square footage. This home sits on over 4 acres, providing seclusion and space for any luxury homeowner. Soaring ceilings and windows complete the main living areas…

7908 Views, 0 Comments