Boise Regional Realtors’ Breanna Vanstrom summarized this month’s Boise housing market update with the following points:
The existing home median sales price reached a new high at $329,000, up 14.7% from May 2018. Local home prices are being driven by the persistently low inventory of existing homes compared to demand.
Due to the lack of inventory of homes for sale at the lower price points, the share of higher-priced home sales continued to rise, further driving up the median price for the segment, as well as the market overall.
The median sales price for Ada County reached a new record of $342,990 in May 2019, for existing and new homes combined. This was up 12.5% over the same month last year.
If you’d like to discuss more about the ins and outs of today’s Boise housing market and how it may inform your summer buying or selling decisions, please let us know! It gives us great joy to be afforded the opportunity to meet with people, hear where they’re at, provide helpful resources and information, and hopefully guide them well in determining how best to proceed in their real estate endeavors.
For a quick snapshot of the Boise housing market for May 2019, see Boise Regional REALTORS® housing market summary for Ada County below: