ADA COUNTY'S HOUSING MARKET UPDATE: INCREASE IN INVENTORY!
Last month Ada County's median sales price for single-family homes reached yet another new record of $525,000. And while our housing inventory pales in comparison to the incredible demand we are seeing - it is interesting to note that June marked the third consecutive month of inventory growth. With 729 homes available for sale at the end of the month (a notable increase of 27.9% from the previous month) it is apparent that more home sellers are capitalizing on the state of our current market. For more information, check out Jonna's quick market update above (and/or scroll down for more stats & analysis).
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Graphics provided by Boise Regional Realtors.
SUMMARY: If you group together both existing and newly constructed single-family homes and compare those numbers to the same month one year ago (detailed in the top infographic): inventory decreased 25.4%, the median sales price increased by 40% (coming in at $525,000), and homes sold 68.8% faster than one-year-ago.
If you then examine just existing/resale homes (and remove all the newly constructed homes from the statistics): the median sales price increased by 42.3% (coming in at $511,000), inventory increased by 10.7% and homes sold quickly (50% faster than one-year-ago).
And finally, if you look just at newly constructed homes, the overall trends remain pretty consistent (but unlike the resale market inventory did not increase). New homes are selling for a median sales price of $552,200 (a year-over-year increase of 28.7%), there are substantially fewer of them available than there were one year ago (inventory is down by 54.7%) - and they are selling significantly faster than they were one year ago (by 81.4%).
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TREASURE VALLEY HOUSING MARKETS
Average Sold Price (June 15, 2021 - July 15, 2021)
- Boise: $566,435
- Eagle: $982,366
- Meridian: $603,795
- Star: $636,613
- Garden City: $486,042
- Kuna: $492,046
- Middleton: $503,614
- Nampa: $439,992
- Caldwell: $416,315
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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.
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If you've been considering a move, this would be a
great time to connect with us to discuss the current value of your home and to
see what's newly available on the market. 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.
If you’re hoping to buy, keep in mind that low inventory certainly isn’t the same as no inventory. There are options available, and rates are making mortgage payments more manageable. Click here or call us to discuss what you're looking for. Otherwise, keep reading to learn more about what's happening in Ada County's real estate market.
P.S. Should you hear of anyone else looking to Buy or Sell a home, we ask that you please do two things. First, please tell them about your experience with us. Next, simply hit the reply button to this email and tell us about them! We would love to be of service!
