Is the Boise area right for you? Here are 7 things you need to know about Boise before calling it home.
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TREASURE VALLEY MARKET UPDATE

*Real Estate Stats are courtesy of the Boise Regional Realtors ~ BoiRealtors.com

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834

# Homes Sold 

-29.7%

vs. Last Year

$360K

Median Sales Price

28

Days on Market

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MAY STATS FOR CANYON COUNTY

401

# Homes Sold 

-21.1%

vs. Last Year

$277K

Median Sales Price

33

Days on Market

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38

# Homes Sold 

-19.1%

vs. Last Year

$204K

Median Sales Price

44

Days on Market

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MAY STATS FOR GEM COUNTY

19

# Homes Sold 

-51.3%

vs. Last Year

$258K

Median Sales Price

33

Days on Market

MAY 2020

➡️ The median sales price in Ada County was $360,450 in May 2020. 

➡️ Boise Regional Realtors reported that 834 homes sold in Ada County in May 2020 which is down 29.7% from May 2019. This is most likely due to the Coronavirus and lack of inventory which was down 22.9 %. 

➡️ Despite the pandemic, our market is still hot. We continue to get frequent calls and inquiries for buyers looking in both the metro area and rural markets. 

➡️ Some positive news is that interest rates on some 30-year fixed conventional loans are below 3%. 

APRIL 2020

➡️ The median sales price in Ada County continues to trend upwards and was $374,900 in April 2020. 

➡️ Boise Regional Realtors reported that 761 homes sold in Ada County in April 2020 which is down -19.5% from April 2019. This is most likely due to the Coronavirus and lack of inventory.  

➡️ Despite the pandemic, our market is still hot. We continue to get frequent calls and inquiries from out of state buyers. 

➡️ I am looking forward to seeing how activity progresses as we move into Stage 2 of Idaho reopening.  

MARCH 2020

➡️ We are still seeing positive activity in our local market despite the pandemic. 

➡️ Boise Regional Realtors reported that 899 homes sold in Ada County in March 2020 which is up 7.9% from March 2019. 

➡️ Since April 1st, 2020 there have been approximately 1,200 properties hit the market in the Intermountain MLS and 848 properties that have gone pending. 

FEBRUARY 2020

➡️ The median sales price of homes sold in Ada County in February 2020 was $361,350. According to the Boise Regional Realtors (BRR), this median price is up 11.3% over the same month last year.  

➡️ The number of homes on the market is down 23.4% from last year and BRR reported the existing home inventory was at a record low. 

➡️ The positives are that new construction is continuing to happen, buyers are still looking, and Boise is still a desirable relocation market.   

JANUARY 2020

➡️ The median sales price of homes sold in Ada County in January 2020 hit a new record of $363,000. According to the Boise Regional Realtors, this median price is up 14.5% over the same month last year. 

➡️ As we have consistently seen in our market, there is a lack of inventory and we have more buyers than sellers. Inventory is 19.7% down from this same time last year.

➡️ Many of the buyers we are working with are in the $300,000 - $500,000 price range.  They are seeking single-level homes, extra garage space, or RV parking.

DECEMBER 2019

➡️ The median sales price of homes sold in Ada County in December 2019 was $350,000. According to the Boise Regional Realtors, this median price is up 7.7% over the same month last year.

➡️ One unusual thing is we saw a jump in the number of homes sold in Ada County. The units sold was up 16.2% versus December 2018.  This is most likely due to some construction being completed and having an increase in available inventory.

➡️Long term statistics show that new construction sales volume has increased 15.3% over the last 5 years.

➡️ Meridian, Idaho seems to be the focus for most new construction projects.  A majority of the building permits filed in Ada County over the past 5 years have been in the city of Meridian.


NOVEMBER 2019

➡️ Realtor.com just came out with its top 10 real estate markets for affordability and Boise, Idaho landed in the #1 spot! Besides being affordable, the Boise market is also doing well because of its high rate of job growth. They predict Boise is going to have a combined sales and price growth of +8.4%.

➡️The median sales price of homes sold in Ada County in November 2019 was a new record of $359,900. According to the Boise Regional Realtors, this median price is up 12.5% over the same month last year. 

➡️The number of homes sold in Ada County did increase slightly by 0.7% vs November 2018. 

➡️ The average days on market is a little high but that is most likely due to new construction.

OCTOBER 2019

➡️The median sales price of homes sold in Ada County in October 2019 was $352,000. According to the Boise Regional Realtors, this median price is up 9.5% over the same month last year. 

➡️The number of homes sold in Ada County did increase slightly by 2.8% vs October 2018. 

➡️ Inventory is short which is typical for this time of year but buyers are still looking! 

SEPTEMBER 2019

➡️The median sales price of homes sold in Ada County last month continues to climb. According to the Boise Regional Realtors, this median price is up 6.6% over the same month last year. 

➡️The Median Home Sales Price in Ada County was $355,000 last month.

➡️ The number of homes sold in Ada County did decline by 9.7% vs last year but this is due to the inventory shortage. There is currently only a 1.7 month supply of single family homes available in Ada County. 

➡️ There are several new developments breaking ground in the Treasure Valley which should help with the inventory shortage, including Calistoga in South Meridian which predicts to have homes available as early as Spring 2020.

AUGUST 2019

➡️The market is HOT! According to the Federal Housing Finance Agency, Idaho had the highest annual home price appreciation in the country compared to 2018 at 11.36% appreciation. 

➡️The Median Home Sales Price in Ada County was $349,900 last month.

➡️ The number of homes sold in Ada County in July 2019 was over 1,100 and over 1,700 homes went under contract. 

➡️ August has slowed down some but this is typically due to the end of the summer breaks and the back to school season. 

JULY 2019

➡️Overall Median Home Price in Ada County= $354,405. According to the Boise Regional Realtors, this median price is up 10% over the same month last year.

➡️Median Home Price of Existing Homes in Ada County= $339,945

➡️ Demand continues to outpace supply, which is a major factor in the increased average sales price.

➡️ Interest rates for conventional 30-year fixed loans are still below 4%, which is great news for buyers.

JUNE 2019

➡️Overall Median Home Price in Ada County= $342,990

➡️Median Home Price of Existing Homes in Ada County= $329,000

➡️ According to the Boise Regional Realtors, available inventory is extremely low right now.  On average in Ada County there is only 1.5 months available for all price points, and only 1 month available for homes priced below $300,000.

➡️ The number of homes sold in Ada County has decreased by 1.1% vs. May 2018.

➡️ Interest rates are actually declining, in some cases below 4%, despite predictions that they would increase. This is great news and is driving buyer power. 


MAY 2019

➡️Median Home Price in Ada County= $331,900

➡️The number of new construction homes sold is up 56.2% and the median sales price of new homes is $369,000, which is skewing the overall average sales price. The total number of homes sold in Ada County in April 2019 was 935 and over 1/3 of those homes were new construction.

➡️The number of homes sold in Ada County has increased by 7.1% vs. April 2018.

➡️According to the Boise Regional Realtors, an increase in available inventory last month helped hold home prices steady.

APRIL 2019

➡️Median Home Price in Ada County= $335,000

➡️The number of homes sold in Ada County has decreased by 5.3% vs. Mar. 2018.

➡️New construction sales are impacting the overall median sales prices. 

➡️Buyer demand continues to grow, yet we only have a few months of inventory available.

MARCH 2019

➡️Median Home Price in Ada County= $324,800

➡️Number of homes sold in Ada County has increased by 10.1% vs. Feb. 2018.

➡️38.6% of the homes sold were new construction.

➡️Boise ranked #1 as the top 100 Best Places to Live in America according to Livability.com!

FEBRUARY 2019

➡️Median Home Price in Ada County= $318,000

➡️Number of homes sold in Ada County is down 6.3% vs. Jan. 2018.

➡️The decrease in homes sold could be due to the inventory shortage and the price point being too high for many buyers. However, we still have a large population of people relocating to the area and the job market is getting stronger.

JANUARY 2019

➡️Median Home Price in Ada County= $324,950

➡️Number of homes sold in Ada County is down 15% vs. Dec. 2017 due to the inventory shortage.  

➡️According to the U-Haul annual migration trends report, Idaho is ranked as the #5 growth state. 

DECEMBER 2018

➡️Median Home Price in Ada County= $324,250

➡️Number of homes sold in Ada County is down 3.5% vs. Nov. 2017  

➡️Things may slow down some but people are still relocating to the Boise area because of the low cost of living and great quality of life we offer. 

HOW DO THESE NUMBERS AFFECT YOU?

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