According to our friends over at Boise Regional Realtors, for the first time since October 2014, the total inventory for existing homes increased by 5.9%. Despite this slight uptick in existing homes for sale, the total number of closed sales decreased by 6.3% (compared to one year ago). This overall decrease in total homes sold correlates with Ada County's incredible 51-month streak of low inventory and heightened buyer demand.
And for newly constructed homes, compared to one year ago, home sales are up 24.6% and overall inventory is up nearly 20%. The median sales price for these homes has increased slightly (by 3%) and they're remaining on the market for several more days than one year ago. With buyer demand still high and bidding wars commonplace, it is a great time to consider looking into newly constructed homes. We've recently had a number of great experiences helping our clients move into their dream homes quickly and easily.
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 has decreased, inventory has increased slightly and our median sales price remains impressively high. These three factors will continue to work together to influence changes in the market.
Treasure Valley Housing Markets
Average Sold Price (January 1, 2019 - February 13, 2019)
- Eagle: $522,131
- Meridian: $345,748
- Boise: $344,850
- Star: $390,802
- Garden City: $279,621
- Kuna: $283,549
- Caldwell: $242,328
- Nampa: $239,980
We'd love to serve you or anyone you know as a partner in this exciting journey. Contact us for a complimentary listing consultation or to start your home search today.
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