March 13, 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...

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Newly Constructed Home Sales Continue to Climb Across Ada County
According to our friends over at Boise Regional Realtors, for the past 21 consecutive months, newly constructed home sales have continued to gain more and more of the total market share across Ada County. Last month (February 2019), newly construction sales made up an incredible 38.7% of all sales (this is an increase of 10% compared to one year ago).

This substantial change in market share continues to influence the overall median sales price for homes across Ada County. And while existing home sales have decreased slightly, overall sales remain high and the median sales price (for both newly constructed and existing homes) sits at $324,800 (a year-over-year increase of 10.1%).

Inventory of existing homes is finally up year-over-year (for the second month in a row, after 51 months of steady declines) and buyer demand remains high. The increase in housing inventory is certainly welcome news to potential buyers.


              


Summary: Compared to the same month one year ago (February 2018), the median sales price for existing, single-family, pre-existing homes in Ada County increased by 9.3%, while total inventory also increased by 7.4%. While overall fewer homes are selling (a small decrease of 2.4%) homes are selling 16.3% faster.

And for newly constructed homes, compared to one year ago, home sales are up 13.6% and inventory is up 16.3%. The median sales price for these homes has increased slightly (by 1.3%) 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 wonderful experiences helping our clients move into their dream homes quickly and easily.

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Treasure Valley Housing Markets
Average Sold Price (February 1, 2019 - March 14, 2019)

  • Eagle: $494,313
  • Meridian:  $343,774
  • Boise:  $361,983
  • Star:  $422,074
  • Garden City:  $302,191
  • Kuna:  $291,395
  • Middleton: $268,938
  • Nampa:  $259,333
  • Caldwell:  $238,085
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4 Bedrooms  I  2.5 Bathrooms  I  2,732 Sq Ft  I  $424,900 

Located in Northwest Meridian's premiere Paramount community, this exquisite Brighton-built home is truly better than new! Complete with new carpet and light fixtures and fans throughout - this home offers every upgrade. The gorgeous kitchen is complete with stainless appliances, granite counter tops, and hardwood floors - and opens to a 11'x19' eating space - ideal for entertaining. The over-sized garage offers a side work area with plenty of space for all of your toys. Its large east-facing, fully fenced, and meticulously landscaped backyard offers privacy and no backyard neighbors! Assiduously cared for and full of top-of-the-line updates, this dazzling home is "move-in" ready.

View the Virtual Tour  I  View the Property Brochure  I  Schedule a Private Showing

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3 Bedrooms  I  2 Bathrooms  I  1,648 Sq Ft  I  $285,000  

This sweet single-level home nestled on a quiet corner lot in Spruce Meadows offers a large, fully fenced backyard and great open layout. With a bonus family room and wood burning fireplace this newly painted (exterior and interior) charmer boasts new carpet throughout, refinished hardwood floors, new fans, spacious master suite complete with a walk-in closet, and more. Conveniently located close to Centennial High, DeMeyer Park, Hewlett Packard, West YMCA and shopping it's truly a "must see"!

View the Virtual Tour  I  View the Property Brochure  I  Schedule a Private Showing

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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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