Boise Regional Realtors’ Breanna Vanstrom summarized this month’s market update with the following three points:
New construction sales are gaining more and more of the market share and continuing to influence the overall median sales price.
In the existing home segment, the median sales price has been rising due to a persistent lack of supply, especially in the lower price points.
An increased share of higher-priced existing homes has contributed to the higher median sales price reported for the existing home segment.
Although inventory is still incredibly low, spring has always been a popular time for people to list their homes, and this year is no exception. Over the last month, housing inventory has increased by 7%--a trend we will likely see accelerate move through the next few months of the spring and early summer season.
If you’d like to discuss more about spring market trends and how they may affect your home buying or selling plans, please don’t hesitate to call us! We would love to meet with you to hear your hopes and questions and help you determine how best to proceed.