Boise Market Trends

Posted by: admin  :  Category: Boise Market Trends, Housing Market, Idaho Real Estate Price Trends, Local Boise Market Update, Local Boise Price Charts, Market Trends, Market Updates, Real Estate & Housing, Selling Boise Homes

“How’s the real estate market right now? Is now a good time to sell?”
This may be one of the more common questions I address, and sharing market data and trends is the purpose of this blog entry, but it’s no substitute for a real conversation. It’s great to know the market but even better to discuss your specific buying and selling plans far enough in advance that we can put a strong plan in place to help make things go your way.

In reality, selling and buying plans are more often dictated by personal life experiences and less often by the status of the market. That said, sellers and potential sellers have a bit of an advantage right now. The laws of supply and demand may be in your favor, given a lower inventory currently on-hand. This makes for less competition.

As Buy-Boise Real Estate Group moves into its fifth year in business, we’re actively reaching out to sellers right now, both to accommodate our strong buyer pool and to put our strategic property selling steps into action.

Market Trend Infographic

This is a snapshot of Boise’s real estate market trends over the past month, compliments of Ada County Association of Realtors.

Housing Market Trends Update

 Upward Market TrendsUP Since 2014

  • Median home prices went up 8% since last year at this time- 13% for new homes and 4% for existing homes
  • Homes sold went up ever so slightly (1.67%) when compared to last January
  • Dollar volume of sales also went up 9% in Ada County since last year
  • Pending sales are up, at 867

Arrown indicating downward market trends in Boise's housing marketDOWN

  • Short sales and distressed properties continue to be down compared to last year and especially compared to the year prior
  • Inventory is a challenge right now
  • Interest rates are down a hair since last year at this time (mid-Feb), giving buyers more bang for their buck

Static Boise real estate market trendsSTATIC

  • At 70 days on market, we’re exactly where we were last year at this time and not far from where we were last month

Interest rates chart courtesy of Bankrate.com

Moving is always a big decision and one of the biggest transactions you’ll make. I’m happy to sit down and answer questions even before that decision has officially been made. Sometimes, it’s nice to have time to afford a very small action list of prep work. For buyers, this may mean getting pre-approved or working on some credit remedies. For sellers it could mean identifying whether any home improvements or repairs will be needed to help you “prepare for the parade.”

Thanks for reading. Please let me know if we should get together and talk about your plans for home buying or selling.

Sincerely,

Shana Moore, Your Local Boise Real Estate Professional and source of real estate market trends in Boise Idaho

Shana Foster Moore,

Your resource for Boise market trends (and more)

 

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