Last month we saw a surge of single-family homes across Ada County hit the market (up 42% compared to one year ago) and the median sales price reached yet another new record of $540,000. And while overall our housing inventory continues to pale in comparison to the incredible demand we're seeing - it is interesting to note that July marked the fifth consecutive month of inventory growth. With 1,055 homes available for sale at the end of the month (a notable increase of 44.7% from the previous month) it is apparent that more home sellers are capitalizing on the state of our current market.
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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 increased by an impressive 42%, the median sales price increased by 38.5% (coming in at $540,000), and homes sold 62.9% 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 38.2% (coming in at $525,000), inventory increased by a notable 116.3% and homes sold in about 11 days (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 but instead dropped by 19.7%). New homes are selling for a median sales price of $558,000 (a year-over-year increase of 30.9%), there are substantially fewer of them available than there were one year ago (inventory is down by 19.7%) - and they are selling significantly faster than they were one year ago (by 71.9%).
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Average Sold Price (July 19, 2021 - August 19, 2021)
- Boise: $585,840
- Eagle: $971,735
- Meridian: $585,440
- Star: $591,154
- Garden City: $544,980
- Kuna: $506,122
- Middleton: $552,646
- Nampa: $448,728
- Caldwell: $426,438
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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.
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 current 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!
