TREASURE VALLEY MARKET UPDATE

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

Lorem ipsum dolor sit amet enim. Etiam ullamcorper. Suspendisse a pellentesque dui, non felis.

1,112

# Homes Sold 

-73.7%

Inventory vs. Last Year

$407K

Median Sales Price

20

Days on Market

Lorem ipsum dolor sit amet enim. Etiam ullamcorper. Suspendisse a pellentesque dui, non felis.

OCTOBER STATS FOR CANYON COUNTY

530

# Homes Sold 

-78.2%

Inventory vs. Last Year

$323K

Median Sales Price

19

Days on Market

Lorem ipsum dolor sit amet enim. Etiam ullamcorper. Suspendisse a pellentesque dui, non felis.

46

# Homes Sold 

-69.5%

Inventory vs. Last Year

$231K

Median Sales Price

29

Days on Market

Lorem ipsum dolor sit amet enim. Etiam ullamcorper. Suspendisse a pellentesque dui, non felis.

OCTOBER STATS FOR GEM COUNTY

31

# Homes Sold 

-41.4%

Inventory vs. Last Year

$310K

Median Sales Price

27

Days on Market

OCTOBER 2020

➡️ The median sales price in Ada County in October 2020 dropped slightly from last month and is now $406,684.

➡️ However, Boise Regional Realtors (BRR) reported year over year inventory was still down significantly.  There are 73.7% less single-family homes on the market now versus October 2019. 

➡️ The BRR also reports builders are attempting to put new construction inventory on the market as soon as they can to help with this demand, but the new home market is selling twice as fast this year versus last year. 

➡️ When you are ready to sell don't hesitate to reach out.  We would be happy to provide you with a pinpoint analysis of your home's value on that day based on the most current market activity. 

SEPTEMBER 2020

➡️ The median sales price in Ada County reached $409,945 in September 2020. 

➡️ Boise Regional Realtors reported year over year inventory was down 73.2% from September 2019. 

➡️ The lack of inventory continues to put sellers at an advantage and we are seeing multiple offers on nearly all of our listings. 

➡️ When you are ready to sell don't hesitate to reach out.  We would be happy to provide you with a pinpoint analysis of your home's value on that day based on the most current market activity. 

AUGUST 2020

➡️ The median sales price in Ada County reached $400,000 in August 2020. 

➡️ Boise Regional Realtors reported year over year inventory was down 64.5% from August 2019. 

➡️ The lack of inventory combined with all-time low mortgage interest rates is creating a market where we are seeing multiple offers and crazy negotiation tactics at all price points. 

➡️ If you are thinking of selling in the next 1-5 years please let me know. With unique market conditions like this its good to have an experienced professional on your side to help you negotiate and make sure you are realizing top dollar. 

JULY 2020

➡️ The record-breaking median sales price in Ada County was $390,000 in July 2020. 

➡️ Boise Regional Realtors reported that 1,402 homes sold in Ada County in July 2020 which is up 22% from July 2019.  However, inventory was down by over 56%. 

➡️ All these factors are what is creating this HOT market.  Homes priced between $300,000 to $500,000 are especially sought after. 

➡️ If you are thinking of selling in the next few years I would highly recommend taking advantage of this seller's market.   

JUNE 2020

➡️ The median sales price in Ada County was $375,000 in June 2020. 

➡️ Boise Regional Realtors reported that 1,147 homes sold in Ada County in June 2020 which is up 3.4% from June 2019.  However, inventory was down by almost 44%.  

➡️ These numbers continue to support that Boise is a hot market. The numbers also show that it is definitely a SELLER's MARKET and we are in need of more inventory. 

➡️ If you are wondering what your home is worth in this market give me call.  I'd love the opportunity to discuss our strategy for getting you the highest dollar for your home. 

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.

HOW DO THESE NUMBERS AFFECT YOU?

We can explain.

SCHEDULE A CALL

RECOMMENDED READS

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info