Boise Real Estate Blog

2019 vs. 2018 Boise Idaho Home Sales ~ First Half Comparisons

Available Listings

• 2018: 1,469
• 2019: 1,737
• % Change: +18.2%

Pending Sales

• 2018: 1,847
• 2019: 1,745
• % Change: -5.5%

Closed Sales (YTD)

• 2018: 5,642
• 2019: 5,511
• % Change: -2.3%

Average Sales Price (on 7/1)

• 2018: $368,995
• 2019: $402,777
• % Change: +9.2%

Median Sales Price (on 7/1)

• 2018: $324,147
• 2019: $353,500
• % Change: +9.1%

Commentary

• If current trends continue in the second half of this year, we will close around 11,000 sales in 2019 (a decline of about 5%).
• We could sell more homes if we had them.
• One-third of all Ada County home sales are new homes now.
• Our builders are building spec homes, with no selections allowed in most instances, and often selling them before completion.
• Our builders are unable to build fast enough to meet demand.
• Many potential sellers are reluctant to sell without first securing another home, which exacerbates our shortage of listing inventory.
• Most builders will not accept an offer contingent upon selling another home, which also contributes to our shortage of listing inventory.
• Many (most?) of our buyers are from other states, leaving us vulnerable if those markets weaken.
• We are not in a bubble, our market is driven by strong demand vs. inadequate supply of homes.

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

Data does not include condo or townhome properties.

Date range = 7/1/18 through 6/30/19

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