Low Housing Inventory in Boise Idaho

Low Housing Inventory in Boise Idaho

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News and Updates

We have been talking about low Boise housing inventory for the last couple of months in our trainings and public postings. “The Idaho Statesman” ran an article this past week and featured one of our past listings in the Sonora Creek neighborhood of Eagle, Idaho. (See picture above)

A few weeks ago the inventory level in the Ada County marketplace hit a new low. This means if you have been thinking about selling your home in the Boise Idaho area we would recommend increased urgency in getting your home ready and listed as you will have a distinct advantage in the marketplace.

Total Inventory

In December 2016, the total number of homes for sale in Ada County was 1490. This is the lowest number since our local IMLS started tracking inventory in 2006, and is a couple hundred homes less than what Ada County had exactly a year ago on the market. The shortage of homes in Canyon County is the same situation. Their total inventory was 808 homes and by the way that’s only 57 more homes than their low that was set in February 2016. New construction homes continue strong sales and have appreciated well over the last couple of years. The increased price of new construction homes has driven many buyers to look at resale properties (which has, in turn, dried up a lot of the supply). The inventory in Canyon County combined with Ada County low inventory and the shortage of homes is benefiting sellers.

Seller’s Advantage

To put this all in perspective, as a total the Treasure Valley is looking at more than 26% fewer options for homebuyers then we had only one year ago. One factor to continue to watch in 2017 is new construction availability and pricing. In Ada County, the new construction inventory was down 1% from a year ago however it’s up 26% in Canyon County.

While the Boise area has had a lot of snow and unseasonable winter weather we recommend that homeowners do not wait until spring to list their homes for sale as the buyers are in the marketplace now and they are eagerly looking. For homeowners who are thinking about selling and would like to know the value of your home please contact us at 208-450-3000 (Extension 1) and let us see if we can take advantage of the current market. Start a Map Search here.

The IMLS market charts reported that the median home sale price in Ada County hovered at $245,000 at the end of 2016. Overall this is 5.6% increase from the end of 2015. Canyon County fared better as the median home price was up almost 12% in the last 12 months. If you are looking for a home, remember to look at the market charts and inventory data that are available on TopBoiseRealEstate and then call us to learn how our home buying system can help increase your chances of success in finding the exact home you are looking for in Boise.

Click here to read about Boise weather, and why you’ll love it if you’re not from here!

Accel Realty Partners

208.450.3000

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