April 16, 2020 at 4:28pm | 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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MONTHLY MARKET UPDATE: PRE-COVID-19 MARKET ACTIVITY
As always, here is our monthly real estate market update in which we always cover the previous month's market activity. Before we dive into the numbers though we'd like to provide some quick context. As you know, Idaho's stay-home order went into effect on March 25th (quite close to the end of the reported month). Under the statewide stay-home order, real estate was deemed essential, which allowed many home sales that were already in the process of closing to close as scheduled. As such, for the month of March home sales weren't significantly impacted. 

Our next update (May 2020) will cover our current month (April 1st - April 30th). At that time, we will have substantially more data to pull upon to glean insights about changes in the market. Our team continues to closely monitor the market and would be happy to chat with you about it and/or your unique situation.

Graphics provided by Boise Regional Realtors.
 
Summary: Compared to the same month one year ago (March 2019), the median sales price for existing homes in Ada County increased by 14.4%, and the number of homes listed (total inventory) increased by 10.1%. These homes sold in about 3 weeks (on average) and (as expected) more sold (+9.5%).

And for newly constructed homes, compared to one year ago (March 2019), the median sales price increased by 8.3% and inventory decreased slightly (by 2.9%). Overall, more newly constructed homes are selling (+5.5%), and these home are staying on the market for just over 2 months.

If you combine both newly constructed homes and existing/resale homes, the average median sales price increased by 9.6% ($367,000), inventory increased slightly (+2.8%) and more homes sold (+7.9%).

Treasure Valley Housing Markets
Average Sold Price (March 15, 2020 - April 15, 2020) 
  • Eagle:  $656,711
  • Boise:  $399,079
  • Meridian:  $399,498
  • Star:  $463,753
  • Garden City:  $389,760
  • Kuna:  $327,162
  • Middleton:  $319,323
  • Nampa:  $293,777
  • Caldwell:  $287,796

View all of our featured listings at Jonna Weber Premier Properties, or click on any of the houses below to learn more about the property.



 
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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