Thank you for visiting our Boise Real Estate website. Providing current market information is just part of the services we offer via our website. You can also find homes in Idaho, or use our Auto Home Finder to get homes that match your needs sent directly to you by email. Here’s the news:
Housing prices for March in the Treasure Valley continued to fall, fueled by the tide of bank owned homes and short sale real estate. Depending on who you ask, this is a bit of a mixed blessing but the fact is the 13% drop in prices in Canyon County resulted in over a 50% increase in the number of homes sold overall. Ada county showed similar results with a 7% decrease in median home prices which figures show to have been a large part in the over 30% increase of homes sold there during the same time period last year.
A natural ebb and flow occurs in any market, and those with real estate experience are not shocked by this sort of shift. Another thing to consider is that the sales decrease was very likely due to the lack of the First Time Home Buyer Tax Credit that was in play last year. What is not so commonly reported is that the average sales price of homes in the Boise area have been slowly increasing since last year.
How does this impact you? Without a doubt the market is saturated with excellent buying opportunities; with prices still very low this also means there are many more potential buyers for those homes. This is especially true as some investors are taking advantage of the market and buying multiple properties while they are affordable.
Mortgage rates remain low, inventory is reasonably priced and there is an abundance of good properties throughout the Treasure Valley. While some may argue this makes for a weak sellers market many are realizing that despite lower prices there are exponentially more buyers looking for real estate because of that very reason.
Not sure about what real estate is doing? The best place to start is always to consult with a qualified and experienced Idaho REALTOR. Don’t hesitate to contact Idaho Properties, our team of skilled agents is ready to help you!