Boise Real Estate Market Update | October 2020

Selling Real Estate
Looking to download our October 2020 Market Dynamics? Click below!

Curious about what is going on in Boise’s real estate market?

– Inventory is down 79% YoY
– The average purchase price in Ada County is up 13.2% with the average home price at $410,000
– We have less than one month’s supply with only 179 active listings

If you’re purchasing a home under $1,000,000 in Boise, Idaho, there is less than one month of supply, resulting in a very high demand and increase in home prices. By next April, we predict home prices to increase another 5%. If you are considering buying a home in Boise, Idaho, remember that although home prices are more than they’ve ever been, interest rates are lower than they’ve ever been. This means its extremely cheap to borrow money which helps balance out the higher purchase prices.

When hiring a real estate agent to sell your home, interview and hire a professional that knows the ins and outs of our current market. Ensure the agent you hire understands how to handle multiple offers, can get you the most money for your home, negotiate the best terms, and/or situation such as waiving the home inspection or waiving the appraisal to eliminate the worry or your home’s value coming in low.

Curious how this impacts you or want more information regarding your specific situation?
Contact us at 208.391.5117 or email us at [email protected]

Who is Own Boise?

At Own Boise, our mission is to ‘Own where you live’, which is more than owning real estate although we love that people do! We believe that in order to own where you live, you must be involved in the community. That involvement can come in many different ways. Donating time, money, volunteering, teaching, coaching, leading or simply just showing up.

Our team currently consists of 9 real estate agents and 3 operations staff. In 2020, Own Boise was recognized as one of “2020s Best Real Estate Teams in Idaho” by Real Trends and “Diamond Level Team” by Boise Regional Realtors for selling over $40 million in volume.

In 2019, the average agent sold 3.7 homes whereas Own Boise sold 152. Our team sells 41X more homes than the average agent. We sell 97% of the homes we list whereas the average agent sells 84%. We average 18 days on market whereas our competitor averages at 23 days. Finally, our original list price to sales price is 98% whereas the MLS is 92%. Meaning we are beating the market by 6% which nets our seller roughly $24,000 more than the average agent on a $400,000 home.


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We are so grateful for all you subscribers, both clients and Realtors, so thanks for watching our videos!

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