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August 2019 Market Report: Ada County Real Estate Market
August 15, 2019 at 9:25am | 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...
Across Ada County during the month of July, a total of 1,136 homes sold and 1,741 homes went under contract (i.e. went "pending" during the month). Compared to one year ago (July 2018), median sales price was up by 9.7%; however, it dropped just slightly
(down 1.9%) compared to the previous month, June 2019.
Price fluctuations occur due to a mix of factors. Our friends over at Boise Regional Realtors® pinpoint one key factor, explaining "as the share of existing sales by price range changes on a month by month basis, it results in a new “mix” of existing
home sales and impacts the overall median sales price." You can read their full explanation here.
And as discussed in previous newsletters, the year-over-year price increase we've witnessed is strongly influenced by the incredible demand (vs. the comparatively low supply of inventory) that the Treasure Valley has experienced.
to the same month one year ago (July 2018), the median sales price for existing homes in Ada County increased by 10%, and total inventory increased slightly by 1.6%. Overall, the number of home sales has largely remained stable (an ever-so-slight increase
of 0.2%) and homes are staying (on average) on the market for about three weeks.
And for newly constructed homes, compared to one year ago, the median sales price increased by 3%, inventory remained quite high (up 19.3%), overall sales increased (by 9%), and these home are staying on the market for (on average) just under 2 months.
While prices for newly constructed homes have increased, many buyers are still experiencing great success thanks in part to low mortgage rates and great inventory.
Treasure Valley Housing Markets Average Sold Price (July 15, 2019 - August 15, 2019)
Garden City: $471,237
We’re close to wrapping up our mini summer series ‘Summer Saturdays Along the Boise River’. Check out the above video for a quick tour of Eagle's stunning Rivers End community. Just minutes from downtown Eagle, and nestled right between Island Woods and Wililamson River Ranch,
Rivers End community is a hidden treasure that we just love introducing to our friends, family, and clients!
Learn More About Eagle's River Corridor There is just something magical about the communities that make up Eagle's River Corridor. Here's a quick snapshot of several of the ten homes that make up this dazzling sector (to view all ten neighborhoods and learn about their individual markets,
To learn more about all of the neighborhoods that make up this highly coveted area, visit Eagle Idaho River Corridor. Or to download a one-sheet detailing each neighborhood's current and and cumulative activity, click here.