The median sales price for single-family houses in Boise, ID from December 1st to the 31st is $292,400 based on 300 home sales. The average price per square foot for Boise is $180, an increase of 18.42 percent compared to the same time last year. Boise real estate market summary:
The median list price decreased to $293,400 (up 10.76% from twelve months ago)
The median sold price decreased to $292,400 (up 11.79% from twelve months ago)
Total home sales declined to 300 (down from 399 twelve months ago)
Median days on market rose to 17 days (down 3 days from twelve months ago)
Available homes for sale declined to a 0.97 months supply (up from 0.95 twelve months ago)
30-year fixed-rate mortgage rates decreased to 4.54% (up from 3.95% twelve months ago)
The median single-family home price finished the year at $324,000 in Ada County, up 17 percent from last December.
Missing the all-time high we saw in August, but still the second highest on record.
Thanks to new construction, the total number of homes for sale rose by 6.8 percent to 1,493. While notable for being only the second increase in inventory in more than four years, it will do little to put downward pressure on prices in the next few months.
Over the last 12 months, Boise house prices rose 11.79 percent to $292,400. In Canyon County, the median cost of a home increased by 18.09 percent to $225,495.
Total sales in Ada County declined to 709 from 829 twelve months prior, mainly due to the fact there is so little on the market.
Where is the Boise real estate market headed in 2019? In a nutshell - a move to a more balanced market.
First a quick recap of what’s happened over the last twelve months:
Boise area home prices jumped nearly 20%, with most neighborhoods showing flat or declining inventory.
Construction of new homes increased a bit but not enough to offset the high demand we saw from buyers.
Mortgage rates have risen from 3.92% to 4.87%, an eight-year high.
Price Appreciation Slows
Home values in the Boise area have been outpacing the national average since 2011. The double-digit appreciation we have seen over the last year will be a thing of the past in 2019.
The combined effect of higher home prices and higher mortgage rates pushed Boise
In each of the past three years, local home prices have remained flat in October. Not this time.
Following a year of new records, the local real estate market had the priciest October since 2013.
The median Ada County home price rose 18.71 percent to $320,403 from a year prior. Down from the record high we saw in August of this year but up nearly $4,000 from September.
The median time a home is listed before selling dropped to 16 days, 2 days quicker than last year.
House prices in Boise helped lead the way, jumping 19.46 percent.
Nearby Canyon County was even brisker with prices jumping 22.17 percent. While down from the twin record highs set in July and September, countywide the cost of the typical home is $39,000 more than it was
If you follow the news, you have no doubt read the headlines about the national housing market slowing in recent months.
Once blistering hot real estate markets from Seattle “Inventory up as Seattle-area market cool down continues”, to Denver “Major cold front slams Denver housing market”, to California’s Bay Area “Inventory, price reductions on the rise” seem to have lost a bit of their luster.
Homes that would have once been snapped up within a few hours of listing are sitting on the market for days or gasp even weeks.
A new report from property data analytics company CoreLogic says U.S. home prices “increased year over year by 5.5 percent in August 2018” the slowest growth in two years.
Prices in the Boise real estate market saw new record highs in August as the number of homes for sale declined for the 48th month in a row.
Ada County’s median single-family house price increased 19.68 percent from the same time twelve months ago, hitting a new record high of $333,900.
With so little to choose from, homes are selling in a median 10 days, the quickest recorded for this time of the year.
In Boise, prices jumped 20.18 from August a year ago to a record $306,450.
Canyon County median home prices grew by 20.22 percent from a year prior. The new median single-family home cost across the county is $220,000. Although, that’s down slightly from the previous record set last month.
Boise-area home prices rose by more than 15 percent for the 7th month in a row in July.
Boise’s median single-family house price jumped 17.6 percent, up from an annual rate 16.7 percent in June.
Prices in Ada County finished the month at $316,000, an increase of 17 percent from last year. While below the high set in June, July’s home cost is the second highest on record.
Canyon County continues to lead local home price appreciation gains jumping nearly 24 percent to a new all-time high of $229,900.
As the last hold-out in the Boise-metro sub $200,000 group; Caldwell house prices rose to $206,495 from $196,445 in June. An increase of 23% from 2017.
The cost of a house within a 30 thirty-minute drive from Boise, in any direction, now
Treasure Valley home prices reached new highs in June.
The median price of single-family homes in Ada County finished the month at a record $324,147, up 18.84 percent over the past year.
Resale properties are leading price gains with new construction slipping to 25 percent of all homes sold in June, down from 29 percent year to date.
Up 21.86 percent over the previous 12 months, house prices in Canyon County jumped to $223,000, also a new record. As we have seen all year, the lowest cost areas continue to see the largest price increases.
In Boise, the median house price hit $297,750 just missing the previous high set in March.
The supply of homes for sale in Ada County increased to 1.52 months of supply from 1.43.
Single-family home sales jumped 14.82 percent last month, but the increase in new listings kept prices in check.
1,194 homes sold in Ada County compared to 1,039 the year prior. Single-family house sales in Canyon County reached a multi-year high of 520.
After setting a record high of $307,466 in March of this year, the median home price in Ada County finished May at $305,000.
Despite home prices being relatively flat over the last four months, the price spikes we saw this winter pushed prices up 15.07 percent from twelve months ago.
Boise’s median home price of $285,000 is up 17.07 from twelve months ago. Just this March, house prices in Boise hit the $300,000 mark for the first.
Home prices in Canyon County held steady at $209,000
The median cost for a single-family home in Ada County dropped nearly $10,000 to $297,073 last month. Prices in Canyon County finished April at $208,950, down $3,000 from the month prior.
After reaching $300,000 for the first time in March, Boise prices dipped to $275,000 in April, albeit in line with the record we set this February.
While a decline in home prices in Spring, particularly April, is unusual it's likely to be short-lived.
Throughout the Treasure Valley, properties are selling in a mere 8 days. The fewest days on market since electronic records have been kept (2004).
Over the previous 12 months, home values are up 17.42 percent in Ada County and 16.14 percent in Canyon County. House prices in Boise have risen 15.11 percent.
In another month of records, the median single-family home price in Boise hit $299,900, essentially the $300,000 mark, for the first time ever.
In Ada County, prices jumped to $307,446, up nearly $10,000 from last month’s record. House prices in Canyon County surged past the $200,000 mark, to finish the month at $211,900. A $16,000 increase from a month prior.
The fierce Boise real estate market continues to show little sign of slowing as price increases continue to accelerate. Across the Treasure Valley, prices have increased significantly over the past year. In Boise alone, prices have risen 29 percent or nearly $67,000 since last March.
Ada County prices are up 22 percent, $55,000 over the previous 12 months, and Canyon County rose 21
