Monday, December 2, 2019 / by Natasha McNealy
According to the Boise Regional Realtors Market Report, we can report that Boise has seen some notable changes this past fall compared to last year.
In Ada County, the median sales price of single-family homes has gone up 9.5%, year-over-year. Prices now sit at a $352,000 median and with 999 homes sold in October, which is over 2.8% more than last year even though inventory is down 9.2%. Average days on the market in Ada County are around 35 days which is fairly healthy.
Taking a look at Elmore County, the numbers are slightly different. Average Days on the market is at a region low of 23 days, which is 46.5% less than last year - homes are going a lot faster here! Inventory is 6.8% lower than year-over-year but rolling 12-month median sales prices sit at $194,225. Finally, Elmore County has seen 10.4% more homes have been sold since last year.
Lastly, looking at Gem County single-family home statistics this past October, there has been quite a change year-over-year. Rolling 12-month median sales prices are 21.7% higher at $239,950, there is an average of 48 days on market which is plus 50% than last year and 36.1% fewer homes were sold, sitting at 23 total for the month. Inventory has gone up in Gem County with 60 homes on the market.
It’s important to look at market trends with a closer lens. As experienced realtors, we understand that looking at Boise as a whole is not a good indication for our client's specific wants and needs. Each county experiences different market fluctuations that all-in-all affect supply and demand, which then affects the rest of the equation when it comes to buying and selling a home - selling price, days on market and the ratio of inventory and buyers. Having seasoned realtors on your side will greatly benefit your home buying and selling process. We never stop learning, researching and making our clients wants our number one priority!