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Boise Realtor, Cristina Pescaru, shares the June 2021 Market Report for Ada County, Elmore County, Gem County, and Canyon County. The market is changing slowly, but surely. Here are the latest stats from Boise Regional Realtors:
Boise Regional REALTORS®
MARKET REPORT June 2021
ADA COUNTY INVENTORY ROSE IN JUNE AS HOME SELLERS CAPITALIZE ON HIGHER PRICES
The median sales price for homes in Ada County reached $525,000 in June, nearly even with May 2021.
While our region has faced insufficient supply for years — the main driver of home prices — June marked three consecutive months of inventory growth. While still low compared to previous years, there were 729 homes available for sale at the end of the month, up 27.9% from May.
ELMORE COUNTY HOUSING MARKET UPDATE The rolling 12-month median sales price climbed to $263,500 in Elmore County as of June 2021 — an increase of 28.9% over the same period last year.
The continued price growth may be encouraging homeowners to list, as monthly existing inventory has been climbing for the past three months — a trend we hope to see continue. At the end of June, there were 27 existing homes available for purchase, up from 16 at the end of May, and nine in April. Inventory of new construction has also been improving slowly, and as of June, there were 14 available for purchase.
GEM COUNTY HOUSING MARKET UPDATE The rolling 12-month median sales price climbed to $341,000 in Gem County as of June 2021 — an increase of 29.7% over the same period last year.
The continued price growth may be encouraging homeowners to list, as compared to 2020. At the end of June, there were 36 existing homes available for purchase and another 14 new construction options on the market — the highest number since December 2019.
The real estate market has taken us all on a wild ride for the last year and a half, and here are some facts and figures helping us to make sense of it. Boise Realtor, Cristina Pescaru, shares the May 2021 Market Report for Ada County, Elmore County, Gem County, and Canyon County.
ADA COUNTY’S MEDIAN SALES PRICE PASSED THE $500,000-MARK IN MAY
The median sales price for homes in Ada
County reached a new record of $523,250 in May, up 8.7%
compared to April 2021. Crossing this threshold may have been
anticipated by some, considering the recent report from realtor.com shared
by the Idaho Statesman noting the Boise
metro’s price growth was the highest in the country
over the past four years. Learn
More
ELMORE
COUNTY HOUSING MARKET UPDATE
Competitive
market conditions continued in May as the average number of days between when a
home was listed for sale and an offer was accepted dropped to a record eight
days – five days faster than in April 2021. Not only did buyers pick up
properties more quickly than ever before, nearly 70% of all home buyers who
closed in May were willing to pay over list price. Learn
More
In May 2021, the median sales price for homes in Gem
County reached $334,000, an increase of 1.1% compared to April
2021. Due to the smaller number of transactions that occur in the area, we
use a rolling 12-month median sales price to get a better idea of the overall
trends. In addition to the insufficient supply of available
homes compared to demand, another factor putting upward pressure on prices
was that more than half of all buyers paid over list price on homes that closed
in May. Learn
More
Find out if a 1031 exchange on your property could work for you. Contact your CPA then get in touch with Ava 208/440/5810 or Cristina 208/284/1545 for selling and finding another property.
1. List pros & cons of selling 2. Are you prepared to move— have a place to go? 3. Are you selling for the wrong reason? 4. Are you thinking of the sale as a business decision? truly separated emotionally? 5. Are all the owners of your property in agreement as to selling?
Still not sure? Call Ava or Cristina. Their insight will help ease your mind.
Flexible Existing Market. Sellers with homes that have been on the market all summer will be more willing to negotiate on the purchase of your new home. Getting a good deal on your new home empowers you to make strategic decisions in the selling of your former home.
Less Seller Competition. By listing in September or October, you have less competition for buyer attention. This means you are less likely to have to compromise on your listing price.
Natural Curb Appeal. The changing leaves make a home look cozy and comfortable as buyers start thinking of the cooler weather.
Buyers are Serious. Fall and Winter are when the most serious of buyers are in the market for a new place to call home.
Contact Ava @ 208/440-5810 or Cristina @ 208/284-1545
We
are happy to answer any questions you have and help you feel confident in your
decision to sell.
