Sign In

Dashboard

Login using...

New Search X

Real Estate Market

Boise Home Values

The median sales price for single-family houses in Boise, ID from July 1st to the 31st is $335,000 based on 511 home sales. The average price per square foot for Boise is $196, an increase of 10.73 percent compared to the same time last year. Boise real estate market summary:

  • The median list price decreased to $339,900 (up 15.22% from twelve months ago)
  • The median sold price decreased to $335,000 (up 13.96% from twelve months ago)
  • Total home sales rose to 511 (up from 503 twelve months ago)
  • Median days on market rose to 8 days (up 1 day from twelve months ago)
  • Available homes for sale rose to a 1.38 month supply (up from 1.21 twelve months ago)
  • 30-year fixed-rate mortgage rates decreased to 3.77% (down from 4.53% twelve months ago)

*Includes both new and existing home sales.

Found 59 blog entries about Real Estate Market.

Boise Housing Market Forecast: 5 predictions for 2018

Inventory Will Remain in Short Supply

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

10,134 Views, 0 Comments

Are We Headed For A Boise Housing Bubble

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,

12,541 Views, 0 Comments

Ada County Home Prices Leap 10 Percent, Show Little Sign Of Slowing

The median price of a single-family home in Ada County rose 10 percent in September from a year earlier.

While prices declined from the previous record of $278,995 set in August, September's $275,000 home price is still the second highest on record, even exceeding this June’s high. Canyon County values finished the month at $181,950, up 13.72 percent from last year. The all-time record high of $185,501 was set in July of this year.

Home prices in Boise set a new record high of $258,000 up 13.16 percent year over year.

The time homes spend on the market in Ada County dropped to 18 from 20 twelve months ago with total sales remaining basically the same at 1,041. In Canyon County, days on market decreased by 5 to 15 and total sales rose to 446 to 415.

Where

803 Views, 0 Comments

Ada County Home Values Jump 9 Percent To New Record High

Ada County’s median single-family home price increased 9.49 percent in August from a year ago, setting a new record high price of $278,995. This surpasses the previous record of $272,770 set in June of this year.

'It's Deja Vu All Over Again'. In 2016 we set an all-time record in June that was surpassed two months later in August. This was a repeat of what we saw in 2014. In 2015 prices rose steadily throughout spring and summer and didn’t peak until November.

In Boise, the median price hit $255,000 up 12.09 percent from a year ago, also a new record.

Canyon County prices are up 10.94 percent to $183,000 from last year, but down $2,501 from the record price set just last month. This is only the second time this year Canyon County has not set

2,852 Views, 0 Comments

Boise Real Estate Market Update July 2017

Ada County home prices have increased 11.07 percent over the previous 12 months and now stand at $269,900.

Canyon county prices are up 9.81 percent since last July finishing the month at $185,501. The sixth record in six months.

Nationally home prices are up 5.6 percent with Seattle 13.3%, Portland 8.9% and Denver 7.9% leading the way. (per the Case-Shiller home price index, released July 25th)

Ada values dipped slightly from June to July, with Canyon showing an increase. Both typical for this time of year.

Available homes for sale are at the highest level we have seen this year, but at 1,934 (2.12 months) Ada County inventories are below what we saw this time last year by about 12 percent. Similarly, inventory is down 8.5 percent in

1,366 Views, 0 Comments

Summer Brings Hot Temps And Even Hotter Boise Housing Market

Summer brings hot temps and sizzling prices to the Boise area real estate market. Throughout the Treasure Valley, home values saw new highs.

Single-family homes in Ada County hit a new median high of $272,770 breaking the previous record set just last month. The typical property was on the market for 12 days and sold for $2,770 over the asking price. Boise house prices jumped to $254,900 with a low days on market of just 7.

Homes in Canyon County finished the month at $183,000 which is the fifth record high in as many months.

The good news for homebuyers is there are more homes for sale now than at any other time this year. In Ada County alone there 1,930 homes for sale. While below the 2,117 active listing available last June, this

7,457 Views, 0 Comments

Boise Real Estate Market Update May 2017

Ada County single-family home prices hit a new high of $261,975 in May. This surpasses the previous record high of $258,445 we set in February of this year. Home prices are up 9.16% since May of 2016.

On average, houses for sale are selling for $700 over list price with a median of 9 days on market.

Active inventory dropped to just 1,786 active listings, down 327 from May of 2016. For some perspective, a 4,000 to 6,000 would be in line with a balanced market based on current home sales.

Boise’s new single-family median home price is $243,450, up from $239,700 the previous high set in February of this year. The typical home sold for $3,450 above list price in May, 101.44% of the price the seller was expecting to receive.

Canyon County prices surpassed

1,754 Views, 0 Comments

Boise Real Estate Market Update April 2017

Treasure Valley homes spent fewer days on the market than just about any time in history.

In Boise median days on market fell to just six in April. Throughout the Treasure Valley, it is very much the same story for single-family properties. Ada County days on market dropped to a breathtaking nine from 21 in March. At the same time last year houses were selling in 14 days.

Day on market in Canyon County decreased to 9 in April from 26 the previous month. In April of 2016 homes were selling in 14 days as well.

According to the most recent national data, Denver, CO, and Seattle, WA, are the fastest-selling markets in the country. In both cities, the typical home was under contract in just eight days. The next fastest selling were 13 and 14 median days on

1,370 Views, 0 Comments

Boise Real Estate Market Update March 2017

The median price of single-family homes sold in Canyon County in March jumped 12.90 percent over the year to a new record of $175,000. The previous record was set in January of 2007 when home values hit $170,000.

In March of last year, the median Canyon County home price was $155,000.

No matter how you look at it, area home prices are up dramatically. While we have definitely seen a pickup in inventory, we are still much closer to record lows than any type of balanced market.

In Canyon County, the median days on market are 26. In other words, the amount of time between when the property is listed on the market until it goes pending is just under four weeks. Typically it takes an additional 30 to 45 days for the transaction to actually close. The home

4,729 Views, 0 Comments

Boise ID Real Estate Market Update February 2017

The median single-family home price in Ada County hit a record $258,445 in February surpassing the previous high of $239,588 set in June of 2016. In February of 2016, the median sale price was $235,000. House prices are up 9.98% over the previous 12 months. The median sales price is up 95.41% since hitting a near-term low in March of 2011.

New construction homes were the most significant driver with prices jumping to $339,970 from $299,985 last year. There just isn't enough new construction being built to fulfill the demand. In 2005 we saw 4,849 new construction homes sell in Ada County. In 2016 only 2,604 were sold.

Resale homes finished the month at $224,500 up from $212,950 in February of 2016.

The lack of available homes for sale is the

3,101 Views, 0 Comments