The median sales price for single-family houses in Boise, ID from May 1st to the 31st is $335,000 based on 515 home sales. The average price per square foot for Boise is $192, an increase of 11.63 percent compared to the same time last year. Boise real estate market summary:
The median list price increased to $335,000 (up 16.93% from twelve months ago)
The median sold price increased to $335,000 (up 17.54% from twelve months ago)
Total home sales rose to 515 (down from 538 twelve months ago)
Median days on market declined to 6 days (up 1 day from twelve months ago)
Available homes for sale rose to a 1.17 month supply (up from 0.98 twelve months ago)
30-year fixed-rate mortgage rates decreased to 4.07% (down from 4.59% twelve months ago)
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
Median home prices throughout Ada County shattered records last month as the Treasure Valley real estate market continues its relentless upward trend.
Boise’s median single-family home price rose to $275,000 in February, up $19,000 from the previous all-time high set just last month.
The median house cost in Ada County soared to $297,500, an increase of $18,000 from the prior months high.
In a rare divergence, Canyon County prices climbed just $550 to $195,000, albeit also a new record.
The total number of homes in Ada County dropped to a 1.27 month supply, while inventory in Canyon County decreased to 1.38 months. As we have seen over the last four years, more homes are selling every month than new homes are being listed.
Treasure Valley home prices reached new highs in January with both Ada and Canyon counties setting new records.
Single-family median home prices jumped 16.63 percent in the Ada County to $279,900. The largest year over year increase in four years. Early bird sellers are benefiting from the lack of competition with packed open houses and multiple offers on anything under $220,000.
Prices in Canyon County leaped an astounding 21.46 percent to finish the first month of the year at $194,450. An appreciation rate we haven’t seen in since 2014.
The median price of a single-family home in Boise grew 13.93 percent to $256,000. Total number of homes on the market fell to a 0.76 month supply.
Keep in mind that January 2017 was the peak of Boise’s
Record low inventory pushed Treasure Valley single-family home prices to new highs in December.
The median home value in Boise reached an all-time high of $261,544 surpassing the previous record set in September of $258,000. That is a 13.72 percent increase from just twelve months ago.
Ada County home prices finished the last month of 2017 at $277,900, just shy of the record high set in August. A 13.48 percent increase in the previous twelve months.
The median house in Canyon County surged to $190,950 in December, setting the seventh record of the year. The typical home price is up 13.66 percent from last year and up $5,000 just from the record set in July. Middleton home prices lead the way jumping nearly 21 percent year over year.
We have seen year over year metro Boise housing market inventory decline for 38 months in a row. While this trend won’t continue indefinitely, it will take a lot of new inventory before we see a balanced real estate market.
While there has been a lot of talk lately about potential home sellers “holding out”, the reality is there just isn’t that much hidden inventory. We have seen a long-term trend of people staying in their homes longer (averaging around eight years) and choosing to remodel rather than sell. If you love where you live, why move?
Sales of existing single-family homes have increased for each of the last four years and are currently averaging 935 per month, which is close to the long-term
I meet a lot of people in my line of work. When people hear I’m a real estate agent one of the most common questions I get, "Is Boise in a real estate Bubble?" Considering local home prices have jumped over the last six years and memories of the great recession are still in the back of everyone’s mind, it doesn’t come as too much of a surprise.
There is a difference between a real estate slowdown and a housing bubble. So what is a bubble? “A run-up in housing prices fueled by demand, speculation and exuberance."
They start with high demand and limited supply which is the case with any rising market. But then, "Speculators enter the market, further driving demand. At some point, demand decreases or stagnates at the same time supply increases,
