November 2018 Market Report: Ada County Real Estate Market
November 14, 2018 | Jonna Weber
Every  month we send out an informative real estate market update. To subscribe to receive our risk-free, no-obligation newsletter, please click here. To check out an excerpt from this month's newsletter, keep reading...

Ada County Housing Inventory Continues to Decline - November 2018
According to our friends over at Boise Regional Realtors, inventory across Ada County has consistently and steadily declined for the past four years. There are now 48.8% fewer homes on the market than there were at this time in 2014. Meaning that compared to four years ago there are roughly half the number of houses currently available! Our market's drastically reduced inventory coupled with our record-breaking population growth has resulted in a very interesting market.

With inventory so low and median sales price high, it is a GREAT time to sell! If you're contemplating selling your home or investment property - or perhaps you're just wondering what it's currently valued at - we'd be happy to provide you a no-obligation, complimentary home or investment property evaluation.

We currently have many buyers looking for properties across Ada County. Top of mind, we have some very eager buyers looking for:
  • Single-level homes in West Boise (under $250,000)
  • Residential homes in the Northend of Boise, ideally between 7th and 20th St (up to $550,000)
  • Residential homes in South Eagle near the river (up to $800,000)
  • Duplexes to 4-plexes in Boise (various price points)
Let us know if you or someone you know has a home in any of these vicinities that you or they are contemplating selling. We would love to help you get it sold.

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Summary: Compared to one year ago, the median sales price for existing, single-family homes in Ada County increased by 17.5%, while total days on the market decreased by 16.7%. Meanwhile, total inventory is 15% lower than it was one year ago, and homes between $160k - $250k are selling within two weeks!

And for newly constructed homes, compared to one year ago, the median sales price has increased to $378,976 (an increase of 6.8%), while total days on the market has decreased by 4.3%.

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Treasure Valley Housing Markets
Median Sales Price (October 1, 2018 - October 31, 2018) 
  • Eagle:  $489,900
  • Meridian:  $328,250
  • Boise:  $289,990
  • Star:  $337,885
  • Garden City:  $350,00
  • Kuna:  $259,445
  • Nampa:  $215,600
  • Caldwell:  $207,000

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Summary: When viewed together, the above charts (provided by Boise Regional Realtors) offer a great, comprehensive visual representation of our current market. While overall closed sales and inventory have decreased, our median sales price remains high. These three factors will continue to work together to influence changes in the market.

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