February 15, 2019 | Jonna Weber
Every  month we send out an informative real estate market update. To subscribe to receive the full version of our complimentary, obligation newsletter, please click here. To check out an excerpt from this month's newsletter, keep reading...

Ada County's Housing Inventory & Overall Home Sales Update
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.

Any increase in housing inventory is certainly welcome news to potential buyers. If you've been considering a move, this would be a great time to connect with us to discuss what's newly available and/or to list your home. To discover what your home is currently valued at, simply click here and we will happily provide you with an obligation-free, complimentary home or investment property evaluation. Or if you'd like to browse available homes in your local area, click here. Otherwise, keep reading to learn more about what's happening in Ada County's real estate market...

Summary: Compared to the same month one year ago (January 2018), the median sales price for existing, single-family homes in Ada County increased by 13.9%, while total inventory finally increased by 14.4%. While fewer homes sold (down 6.3% from one year ago), homes under $299k are currently selling within three weeks.

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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