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Real Estate Market

Boise Home Values

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)

*Includes both new and existing home sales.

Found 52 blog entries about Real Estate Market.

In December of 2014 single-family home sales totaled 597, an increase of 3.5% from December of last year. For the Boise housing market in 2014 total sales dropped 2.5% from 2013; 7,764 homes were sold compared to the previous year’s 7,964. In 2014 a total of $1.91B in real estate was sold. That corresponds to $1.85B in 2013.

Total Days on Market totaled 66 for the month, an increase of 9 days from the previous month. For this same time last year, Days on Market totaled 59.

New construction home sales totaled 129; a decrease of 5% from 2013. Total sales for existing homes were 468, an increase of 6% from December of 2013.

Pending sales at the end of December were 712; up 4% compared to December 2013. Pending sales are our best “forward-looking”

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Vacancy rates in and around Boise moved up slightly to 3.0% for the 4th quarter, an increase of from last quarter. The largest increases in vacancy rates from last quarter, were multifamily homes.

Current Rental and Vacancy Rates

In 2013 we saw average rents increase by 7.6%. In 2014 single- family rents alone increased almost 22%. For Q4 of 2014 rental rates increased slightly from last quarter. The increase in rental rates has been in all areas of the rental market, from single family to multifamily.

Although, the rental rate increase was minimal, its very significant. To be able to show an increase in rental rates during the most challenging time of year to rent a home is exceptional. In addition, we have been able to maintain the vacancy

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