Boise Idaho Home Sales – October 2019

Boise Idaho Home Sales Activity For October 2019

Boise Idaho Home Sales

Boise Idaho Homes For Sale

Boise Idaho Pending Sales

  • # Pending: 1,409
  • Average Asking Price: $440,496
  • Median Asking Price: $389,900

Closed Boise ID Home Sales – October 2018

  • # Closed: 1,035
  • Average Sales Price: $360,022
  • Median Sales Price: $320,000

Closed Boise ID Home Sales – October 2019

  • # Closed: 1,022
    % Change: -1.3%
  • Average Sales Price: $396,746
    % Change: +10.2%
  • Median Sales Price: $350,000
    % Change: +9.4%

Boise Idaho Community Information

Tour of Boise Idaho Video

Boise River Greenbelt Video

Snake River Valley Wine Region Video

Boise Idaho Fall Color Video

Data extracted from Intermountain MLS on 11/10/19 and pertains to Boise Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

Boise Idaho Real Estate Market Snapshot

Summary of the Boise Idaho Real Estate Market

Boise Idaho Real Estate

Available Listings

  • Our listing inventory remains about the same as it was at the end of Q2.
  • It’s extremely difficult to find a quality home matching a buyer’s specific criteria.
  • We have 1,745 homes available in all of Ada County, spread over 17 MLS areas, in all price ranges.
  • Only 840 (48.1%) of those available listings are existing resale homes.
  • 85 (4.9%) of those listings are “To Be Built” (builders seeking pre-sales).
  • 402 (23.0%) of those listings are “Under Construction”.
  • 424 (24.3%) of those listings are “New-Never Occupied” completed spec homes.

Pending Sales

  • We have 1,391 pending sales in escrow now vs. 1,452 at this time last year (-4.2%).
  • 469 (26.9%) of all pending sales are new homes under construction.

Closed Sales

  • 31.7% of all YTD closed sales were new homes.
  • We closed 8,746 homes in the first three quarters of 2019 vs. 8,937 in the same period of 2018 (-2.1%).

New Homes

  • Many buyers are opting for new homes due to the lack of resale home listings.
  • Most builders are building spec homes with pre-selected options vs. allowing buyers to select options.

Comments

  • We continue to sell fewer homes at higher prices due to our low listing inventory vs. strong demand.
  • Interest rates for owner-occupied homes remain steady around 4% for 30-year fixed-rate loans.

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Looking for a home in Boise, Meridian, or Eagle, Idaho?

Why not put my 47 year’s experience and no-BS insights to work for you?

Call me at (208)938-5533 or e-mail me for exceptional, responsive, expert service!

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Data pertains to Ada County single-family homes on lot or acreage.

Data extracted from Intermountain MLS on 10/5/19 and 11/2/19.

Boise Idaho Community Information

Tour of Boise Idaho Video

Boise River Greenbelt Video

Snake River Valley Wine Region Video

Boise Idaho Fall Color Video

Boise Idaho Home Sales – September 2019

Boise Idaho Home Sales Activity For September 2019

Boise Idaho Home Sales

Boise Idaho Homes For Sale

Boise Idaho Pending Sales

  • # Pending: 1,480
  • Average Asking Price: $435,469
  • Median Asking Price: $379,837

Closed Boise ID Home Sales – September 2018

  • # Closed: 931
  • Average Sales Price: $355,812
  • Median Sales Price: $315,000

Closed Boise ID Home Sales – September 2019

  • # Closed: 935
    % Change: +.43%
  • Average Sales Price: $402,274
    % Change: +13.1%
  • Median Sales Price: $349,900
    % Change: +11.1%

Boise Idaho Community Information

Tour of Boise Idaho Video

Boise River Greenbelt Video

Snake River Valley Wine Region Video

Boise Idaho Fall Color Video

Data extracted from Intermountain MLS on 10/5/19 and pertains to Boise Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

Boise Idaho Home Sales – August 2019

Boise Idaho Home Sales Activity For August 2019

Boise Idaho Home Sales

Boise ID Homes For Sale

Boise ID Pending Sales

  • # Pending: 1,607
  • Average Asking Price: $441,079
  • Median Asking Price: $382,500

Closed Boise ID Home Sales – August 2018

  • # Closed: 1,199
  • Average Sales Price: $372,672
  • Median Sales Price: $330,000

Closed Boise ID Home Sales – August 2019

  • # Closed: 1,058
    % Change: -11.8%
  • Average Sales Price: $404,902
    % Change: +8.7%
  • Median Sales Price: $354,900
    % Change: +7.6%

Boise Idaho Community Information

Tour of Boise Idaho Video

Boise River Greenbelt Video

Snake River Valley Wine Region Video

Boise Idaho Fall Color Video

Data extracted from Intermountain MLS on 9/7/19 and pertains to Boise Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

Boise Idaho Area Homes On Acreage

Here’s an interesting case study of Boise Idaho Area Homes On Acreage

Boise, Idaho Homes On Acreage

After visiting this blog, one of my buyers recently contacted me about Boise Idaho Area Homes On Acreage.

During our initial consultation on the phone, we discussed the client’s needs, wants, likes, and dislikes in detail.

During that conversation, we determined that they could buy without selling first, and that they were ready to buy if we could find the right property.

They also worked with my recommended lender, Monica Davis at Synergy1 Lending, here in Eagle and secured pre-approved financing.

Their criteria included:

  • Newer home.
  • Three or more bedrooms.
  • Single level.
  • 1-5 acres.
  • 2,000 to 2,500 sq. ft.
  • Stainless kitchen appliances.
  • Quartz or granite counters.
  • Up to $500,000

Sounds reasonable, right?

I searched MLS for all of our nearby outlying areas, including Eagle, Emmett, SW Meridian, Star, Kuna, Middleton, and South Nampa.

The results?

My extensive MLS searches (in two counties) turned up only 17 listings, all of which were older manufactured homes, or older homes in poor condition.

For the first time ever, I had to tell a buyer that I had nothing matching their criteria to show them.

Our low listing inventory continues to create challenges for both buyers and their agents throughout our real estate market.

Some types of properties are extremely difficult to find in our market.

The results of working with this client revealed the challenges of finding a quality, newer home on small acreage.

I’ve experienced the same results many times while searching for homes with a shop in the past several years.

We could sell more homes if we had more available listings!

Looking for a home in the country?

Give me a call at (208)938-5533 and let’s see what I can find for you!

Eagle Country Lifestyle Video

Snake River Valley Wine Region Video