December 2021 and Year-End Market Report

by Boise Regional REALTORS®

When summing up the 2021 Ada County housing market, one could easily argue that this past year brought the most fast-paced market we’ve ever seen, particularly in the first half of the year. The market conditions were incredibly competitive.

The ...

Although the Boise housing market is experiencing a common seasonal cooling with the close of 2021, the Months Supply Inventory (MSI) metric shows that demand for homes remains strong and consistent. As Boise Regional REALTORS® reiterates, the MSI metric is calculated by taking “the number of homes for sale divided ...

With the shift in weather, we’ve seen a shift in the Boise housing market too.  Though homes are still selling for near record highs, we experienced a slight 0.2% drop in the median sales price from September to October.  It’s been refreshing to see the market cool ...

As the weather has started to cool, so has the Boise real estate market.  Our median sales price was $530,500 last month—down about $10,000 from July but still up 32.2% from the same month last year. The main reason for high appreciation over the last year ...

It’s no secret that insufficient supply of available homes for sale has been the primary driver for rapid home price increases in the Boise real estate market.  July was no exception to this with the median price for Ada County homes reaching $540,000, up 2.9% from June ...

Some agents have commented that they are seeing small signs of “cool down” in the Boise real estate market.  But, overall, conditions remain primarily “hot” and continue to lean heavily in favor of sellers. This reality combined with uncertainty about the future, seems to have finally enticed some people ...

This month's Boise real estate market update is brought to you by Boise Regional REALTORS®.  If you have question about what you read here or want to discuss how our current market conditions could affect your personal real estate decisions, please don't hesitate to reach out to ...

It is no question that the Boise housing market continues to be hot, fast-paced, and competitive.  The average days on market for existing homes dropped to a record low of 10 days.  This means homes are selling more than two times faster than they have in the last ...

As reported by Boise Regional REALTORS®, builders and prospective home sellers in the Boise housing market continue to prove unable to keep up with homebuyer demand.  BRR suggests the following factors as major contributors to the rapid influx of buyers:  

• General population growth
• Millennials “aging into” the traditional ...

The fast pace of the Boise housing market over the last several months continues into 2021 and shows no sign of letting up soon.  Low inventory, faster market times, and continued low mortgage rates (averaging 2.73% in January 2021 for a 30-year fixed mortgage) have all contributed to ...