Ada County Real Estate

In the Ada County real estate market there were 116 pending home sales for the week of 1.2.23-1.8.23. Of those, 50 were new construction and 66 were resale homes.

There’s currently 1260 homes for sale in Boise, Meridian, Eagle, Kuna, Garden City, and Star. Of those, 519 are new construction, 168 under construction, and 573 are resale homes.

Historically, the number of homes for sale modestly grows through the first quarter of the year, and accelerates into the 2nd & 3rd quarter.

When looking at the current pending homes for sale rate to the inventory, we can calculate the “Months of inventory” or “Absorption Rate”. Overall, Ada County had a 2.5 month inventory of homes for sale. Breaking that down… new homes had a 3.2 month inventory and resale a 2.0 month inventory.

Boise Real Estate

For the Boise real estate market, there were 45 homes for sale that went pending. The highest price home was $1.9M and the lowest was $299,900. The average was $547,453 and the median $459,900.

Here’s a comparison of this week vs the week prior.

Date Range	Total Pending	High Price	Low Price	Average	Median
12/26-1/1	35	$          998,900	$       299,900	$       526,932	$       499,900
1/2-1/8	45	$       1,900,000	$       299,900	$       547,453	$       459,900

Boise Real Estate Market Analysis

Status	Class	Type	Area	No. of Listings	Dollar Volume	Average Price	Median Price	Average DOM
Listings Under Contract				45	$24,635,388	$547,453	$459,900	56
Pending
	Residential
		Single Family
			Boise North – 0100	3	$2,590,000	$863,333	$650,000	68
			Boise NE – 0200	4	$4,454,700	$1,113,675	$962,400	52
			Boise SE – 0300	7	$3,609,590	$515,656	$499,900	71
			Boise Bench – 0400	5	$2,027,699	$405,540	$399,000	48
			Boise South – 0500	6	$2,820,690	$470,115	$448,450	44
			Boise SW-Meridian – 0550	7	$3,641,214	$520,173	$465,000	80
			Boise West – 0600	2	$754,895	$377,448	$377,447	92
			Boise W-Garden City – 0650	5	$1,997,700	$399,540	$349,900	12
			Boise NW – 0800	6	$2,738,900	$456,483	$391,500	50
			Subtotal	45	$24,635,388	$547,453	$459,900	56

Boise Real Estate Summary

Search Results Summary -45 Listings
	Beds	Baths	SqFt	LP	LP/SqFt	DOM
45 Pending Listings
High	6	4.50	5320	$1,900,000	$498	203
Low	2	1	702	$299,900	$193	0
Avg	3.29	2.14	1806	$547,453	$309	57
Med	3	2	1624	$459,900	$295	39