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July Offered an Oasis From a Heated Treasure Valley Housing Market

Posted by Lisa Kohl on Tuesday, August 8th, 2017 at 4:48pm.

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 Canyon County.

Total home sales in Ada declined in July to 1,083 from 1,206 in June.

Summer has put a slight dent in demand as home buyers tend to take a breather beginning in June. The combination of aggressive pricing by home sellers and the typical mid-year break is keeping a limit on bidding wars. July is the first month since early spring sale prices have not exceeded asking values (list price to sale price ratio).

Year to date we continue to see the biggest price gains in the lowest cost areas. Middleton (median price $212,900) and Kuna (median price $210,000) are leading the way with values up 19.71% and 12.06% respectively. In addition to greater affordability, the increase in new construction activity is helping to push pricing to new highs.

July 2017 Boise ID market summary:

  • The median list price declined to $250,000
  • The median sold price dropped to $250,000
  • Total home sales decreased to 525
  • Median days on market remained unchanged at 7 days
  • Available homes for sale increased to a 1.66 months supply
  • 30-year mortgage rates declined in June to 3.90%

Idaho Real Estate Markets in July

Ada County

  • Median List Price $269,900
  • Median Sold Price $269,900
  • Days on Market 11
  • Total Sold 1,083

Eagle, Idaho

  • Median List Price $422,400
  • Median Sold Price $420,000
  • Days on Market 29
  • Total Sold 78

Kuna, Idaho

  • Median List Price $210,000
  • Median Sale Price $214,612
  • Days on Market 13
  • Total Sold 87

Meridian, Idaho

  • Median List Price $284,950
  • Median Sold Price $284,250
  • Days on Market 14
  • Total Sold 294

Star, Idaho

  • Median List Price $278,000
  • Median Sale Price $274,265
  • Days on Market 32
  • Total Sold 51

Canyon County

  • Median List Price $186,900
  • Median Sale Price $185,501
  • Days on Market 10
  • Total Sold 435

Caldwell, Idaho

  • Median List Price $164,999
  • Median Sold Price $168,500
  • Days on Market 7
  • Total Sold 101

Middleton, Idaho

  • Median List Price $222,745
  • Median Sold Price $222,745
  • Days on Market 22
  • Total Sold 29

Nampa, Idaho

  • Median List Price $179,900
  • Median Sold Price $181,250
  • Days on Market 8
  • Total Sold 242

 

Boise Real Estate Agent Lisa KohlAbout the Author

Lisa Kohl is a professional real estate agent in Boise, Idaho. We provide you with LOCAL expertise and exceptional results. Questions or feedback? Send Lisa a message. Lisa founded the We Know Boise Real Estate team at WeKnowBoise.com, with the goal of redefining the real estate experience in the client’s favor. Lisa carefully studies the local real estate market to give her clients the edge when it comes to buying or selling a home in Idaho. Email Lisa

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