Local news. Locally owned.

Real estate group says data shows increase in sales, price for homes

The Sundance Company

For the first time since the COVID-19 pandemic fully took hold in the Boise area, home sales increased in June over the prior year.

The Boise Regional Realtors said home sales in Ada Co. increased 3.4% in June 2020 over the June 2019 numbers.

Another key indicator, the median home sales price, also increased – reaching a new all-time high of $375,000. The median price means half of all homes sold for more than that amount, and half sold for less. The median price is up 6.3% from June of 2019, showing the increasing cost of housing in the Boise market.

[New townhomes sit empty in NW Boise during housing shortage]

BRR, which is the advocacy group for local real estate agents, said the housing market remains strong.

- Story continues below ads -
Idaho Central Credit Union Business Banking
Fast in the Morning Wild 101

“This rebound in closed and pending sales was due to pent up buyer demand and the fact that our market was strong before the pandemic hit our region,” BRR president Michelle Bailey said. “While our local housing market may continue to be impacted by the ongoing COVID-19 crisis on some level or another, this uptick in sales and homes under contract is a good sign.”

BoiseDev FIRST members made this story possible. If you aren’t already a member, sign up now to get our daily scoop sheet in your inbox, and help support independent journalism in Boise.

The number of homes for sale remains low. The supply of homes stands at just one month’s worth, while BRR said the ideal balance is four to six months. That’s the lowest level since January of 2016 when the organization started tracking the metric.

Disclosure: Boise Regional Realtors is a BoiseDev sponsor. The group had no role in the selection or editorial process of this story.

Love our stories? Get them delivered straight to your inbox each afternoon. Plus, support BoiseDev's independent journalism.

Popular

You asked: What’s the status of the new WinCo at Chinden and Linder in Meridian?

It's a big project that will add a major grocery destination to North Meridian. But when will construction start? It's...

Local gyms posting they might have to close. What the health department says

You might have seen pleas from gyms across Ada County asking customers to tell the local board of health not to shut...

Related

Pandemic continues to impact real estate: prices, homes sold fall in May

The pandemic continues to impact the Boise Real Estate market. The latest report from the Boise Regional Realtors, showed May home...

Pandemic impacts local real estate market: number of homes sold dips, prices still up

A total of 761 homes sold last month, a steep drop-off from the same time a year ago. New...
Holland and Hart

Latest

Want a Twinkie with your workout? New product from Boise’s BodyBuilding.com to blend supplements and snack food

Boise's BodyBuilding.com signed an agreement with Hostess Brands to bring the taste of Twinkies to protein powder mixes. The...

You asked: What’s the status of the new WinCo at Chinden and Linder in Meridian?

It's a big project that will add a major grocery destination to North Meridian. But when will construction start? It's...

Local gyms posting they might have to close. What the health department says

You might have seen pleas from gyms across Ada County asking customers to tell the local board of health not to shut...

‘Moral dilemma:’ How one Idaho rafting company dealt with the pandemic

Co-owners Lauren and Chris Demo, of Salmon Raft in McCall, faced one of the biggest decisions for their business and the greater...

Boise Schools unblocks Twitter users after records request, complaint

The Boise School District blocked more than 30 accounts on Twitter, an apparent violation of First Amendment rights.

Note from Don: BoiseDev to add Margaret Carmel to report on a changing Boise and Treasure Valley

I’m pleased to welcome Margaret Carmel to the BoiseDev team, starting August 24th. Margaret covers the City of Boise...