Boise Idaho Real Estate Market Report March 2019

By
Real Estate Agent with Silvercreek Realty Group SP38480

 A New Norm:  New Construction Sales Gaining More and More of the Total Market Share.

  • Existing inventory was up in February - 7.4% compared to last year, but how did this uptick in inventory impact price? Since home prices are being driven by housing supply versus buyer demand, one would expect the price to drop some as inventory increases, however, we aren’t seeing that dynamic quite yet in this case as the median price for existing homes was $295,000, a 9.3% increase compared to February 2018. 
  • These changes in segment market share continue to influence the overall median sales price for homes in Ada County. In February, the median sales price was $324,800, up 10.1% from the year before. New construction is typically priced higher primarily due to increasing land, materials, and labor costs.

 


 

 

 

Those thinking about selling or buying shouldn’t be concerned with ‘timing the market,’ because the best time to buy or sell is when it fits your needs and circumstances.   READ MORE HERE

 

 

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Do you need to Sell before you Buy?

Comments (1)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

That's valuable real estate market data for home buyers and sellers in Boise, Idaho, Mark!

Mar 27, 2019 01:08 PM