Boise Idaho Home Sales Comparisons

Here’s a year-over-year comparison of closed Boise Idaho home sales

Boise Idaho Home Sales

2017 Closed Boise Idaho Home Sales (January Thru April)

  • # Closed Sales: 2,847
  • Average Sales Price: $287,479
  • Median Sales Price: $250,000

2018 Closed Boise Idaho Home Sales  (January Thru April)

  • # Closed Sales: 3,110
    % Change: +9.2%
  • Average Sales Price: $342,962
    % Change: +19.3%
  • Median Sales Price: $295,990
    % Change: +18.4%

Check out my related post on Boise Area Spring Real Estate Market: 5 Things To Know

________________________________________

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

Data does not include condo or townhome properties.

Date Range = January 1stthrough April 30thof each year.

Please follow and like us:
error

Boise Idaho Listings: We Need More!

boise idaho listings

We currently have 1,215 Boise Idaho Listings for single-family homes in our Boise MLS.

That works out to only 1.3 months’ supply of Boise homes for sale.

A six-month supply of listings is considered to be a “balanced market”.

It’s a great time to be a seller in this market, but not so much if you’re a buyer or buyer’s agent.

Of those 1,215 listings, 125 are “To Be Built” and 313 are “Under Construction”.

Those homes are of no interest to buyers who want to buy, close, and move in.

That leaves only 777 resale home listings available in all of Ada County.

Those listings are spread across 17 MLS areas and include all price ranges.

After applying a buyer’s usual criteria, there are often few (sometimes none) homes to consider.

If you’ve followed this blog for a while, you know I pay considerable attention to market statistics with my monthly market statistics blog posts.

January 2018 Market Stats

February 2018 Market Stats

March 2018 Market Stats

April 2018 Market Stats

Those statistics reveal that the number of closed sales for March and April of 2018 are essentially flat vs. the same months in 2017.

Boise Idaho Homes March Closed Sales (year-over-year)

  • March 2017 Closed Sales: 853
  • March 2018 Closed Sales: 863
  • Change: +1.2%

Boise Idaho Homes April Closed Sales (year-over-year)

  • April 2017 Closed Sales: 884
  • April 2018 Closed Sales:  887
  • Change: +.34%

Our year-to-date listing inventory has also remained flat in 2018.

Boise Idaho Listings

  • January Available Listings: 1,200
  • February Available Listings: 1,196
  • March Available Listings. 1,204
  • April Available Listings: 1,266

As of this morning, we have 2,058 pending sales, which is an all-time record.

That number reflects our usual seasonal Spring sales surge that occurred in March and April.

It also confirms that many (most?) Boise Idaho homes are selling as soon as they’re listed.

These numbers make clear that we continue to have strong demand vs. low supply of Boise ID homes for sale.

Plainly stated, we could sell more homes if we had more homes for sale.

________________________________________

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

Data does not include condo or townhome properties.

Please follow and like us:
error

Boise Idaho Home Sales – April 2018

Here’s a snapshot of April’s Boise Idaho home sales activity.

Boise Idaho Homes For Sale

# Available: 1,266  Click here to view all Homes for sale in Boise, ID
Average Asking Price: $493,758
Median Asking Price: $392,357
Months’ Supply: 1.3

Boise Idaho Pending Sales

# Pending: 1,974
Average Asking Price: $373,748
Median Asking Price: $329,900

Closed Boise Idaho Home Sales – April 2017

# Closed: 884
Average Sales Price: $292,635
Median Sales Price: $252,769

Closed Boise Idaho Home Sales – April 2018

# Closed: 887
% Change: +.34%

Average Sales Price: $348,902
% Change: +19.2%

Median Sales Price: $297,000
% Change: +17.5%

Read about Boise Idaho’s Low Listing Inventory

Data extracted from Intermountain MLS on 5/7/18 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.

Please follow and like us:
error

Boise Idaho’s Low Listing Inventory

Boise Idaho’s low listing inventory is profoundly affecting sales.

Buyers and their agents are struggling to find available homes with our current low listing inventory.

As of this morning, we have only 1,211 single-family homes for sale in Boise, Idaho’s listing inventory.

475 of those homes are “To Be Built” (homes that may never be built), or “Under Construction”.

Those homes are of no interest to a buyer who wants to buy a home and move in.

That leaves 736 available homes, in all price ranges, spread over 17 MLS areas.

In real estate, a “balanced market” is generally considered to be six months’ supply of listings.

In stark contrast, we currently have only 1.25 months’ supply of listings in Boise, Idaho’s low listing inventory.

The Meridian, Idaho real estate market has only 1.5 months’ supply of listing inventory.

The Eagle, Idaho real estate market has 2.0 months’ supply, primarily due to its higher price point.

Resale home listings are nearly non-existent in some of our Boise, Idaho MLS areas.

Desirable homes usually sell immediately, above the asking price, with multiple offers.

Buyers with specific requirements for price, location, schools, square feet, and other criteria are often unable to find homes matching their wants and needs.

I’m seeing offers with escalation clauses, offers waiving inspection rights, and buyers willing to pay the difference when homes fail to appraise for the sales price.

Buyers, and their agents, were surprised last Friday afternoon when one of our largest builders increased prices on all of their listed homes by $25,000 to $40,000 across the board.

Some of those homes have already been sold.

Some buyers are submitting offers contingent upon selling their home, but very few sellers will accept such an offer.

I’m also encountering sellers who won’t list their present home because they’re afraid they won’t be able to find another home to buy.

Despite strong demand, our sales numbers have leveled off in some market segments due to a lack of listing inventory.

Simply stated, we could sell more homes if we had more homes to sell.

View March 2018 Boise, Idaho Real Estate Stats

View March 2018 Meridian, Idaho Real Estate Stats

View March 2018 Eagle, Idaho Real Estate Stats

 

Please follow and like us:
error

Boise, Idaho Real Estate Stats – March 2018

Here’s a snapshot of March’s activity for Boise, Idaho real estate (Ada County):

Available Homes

# Available: 1,204
Average Asking Price: $481,149
Median Asking Price: $381,310
Months’ Supply: 1.3

Pending Sales

# Pending: 1,749
Average Asking Price: $367,546
Median Asking Price: $319,900

Closed Sales – March 2017

# Closed: 853
Average Sales Price: $285,812
Median Sales Price: $251,199

Closed Sales – March 2018

# Closed: 863
% Change: +1.2%

Average Sales Price: $347,030
% Change: +21.4%

Median Sales Price: $308,000
% Change: +22.6%

Data extracted from Intermountain MLS  on 4/7/18 and pertains to Boise Idaho (Ada County) 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.

View 2018 Meridian, Idaho Real Estate Stats | View 2018 Eagle, Idaho

Real Estate Stats

Please follow and like us:
error