Home Prices in Boise ID for November 2016
Real estate market data for Boise, ID provided by United Home Group Boise of Keller Williams Realty.
Boise Home Prices
We have seen several straight months of sold price increases on home prices in Boise and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Boise but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Boise home on which you are making an offer.
If you are interested in how much current inventory is on the market in Boise you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Boise, homes have a median time of 66 days on the market before they sell. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Boise has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Boise Real Estate Report Summary
The median list price in November for single family homes in Boise 83702 is $440,400.
The number of active listings in Boise (83702) dropped by 20.7% from the previous month.
The percent of rental properties in Boise (83702) is 26.23% above the national average which is typical for urban areas.
The median number of days active properties have been listed is 66. This is significantly shorter than the national average.
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