The market is up in Boise’s Ada and Canyon Counties. Resale home inventory has seen an intense decline, and the resale market is holding strong as a result. Even amidst this booming market though, resale home prices are staying disappointingly low. Boise would fare well with an increase in the average price of a resale home. Time to give these rare resale gems the value they deserve!
The amount of new homes that closed in Ada County is up just 6% over 2014, Canyon County’s new home sales is up by a mere 3 unites. While these numbers aren’t outstanding, they are a noteworthy increase nonetheless. Especially since the increase in new home sales prices has grown immensely. Ada County’s average new home price in Jan/Feb was $323, 338 (up $10,147 from 2014’s yearly average). Pending sales for new homes in both counties is down 7 units from February of last year, but the Boise market isn’t worried, as it is strong and healthy overall!
Cheers to a prosperous 2015!
Summary based on market reports sent by Mike Pennington.