Sunday, July 7, 2019 / by Natasha McNealy
Attention to those of you who have been thinking about selling your home - NOW is the time to do so here in Boise! We have seen persistent stats of low inventory which is driving median home prices UP because demand is HIGH.
The existing home median sales price reached an all new high of $329,000 which is up 14.7% from May 2018. Since there has been a lack of inventory, home sale prices have been driven up, even including homes in the higher-priced market. In Ada County, the median sales price for both existing and new homes combined reached its new record of $342,990 in May 2019 which is a 12.5% increase over the same month of last year.
Since there are fewer existing homes on the market, home sales above $300,000 rose to a share of 61.3% of all existing homes sales and lower price point homes sold at a higher median sales price.
Buyers are looking to find their dream home in Boise and your home can be it! If you are looking for a quick sale, now is the time to get talking with an agent and get your home listed. With hungry buyers on the market, your home can be the exact gem that they are looking for and willing to pay a higher price point than you may expect.
Are you a current buyer feeling a little defeated? Don’t be! It is still early summer and more listings will be coming in. Take the time now to get your finances in order, get pre-approved and ready to make an offer in this competitive market!