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Nestled in the Treasure Valley against the majestic foothills, Boise is part of a thriving metropolitan area of over 600,000 people known as the Treasure Valley. Boise is the largest metropolitan area in Idaho, and also the most remote metropolitan area in the United States, fostering a “unique sense of community.” Boise is the gateway to exceptional recreational opportunities including: world famous white-water rafting, Nordic and Alpine skiing, snowboarding, hunting, fishing, backpacking and camping. Hiking, biking and fishing are popular activities right in the metro area, accessed by miles of greenbelt along the Boise River. The foothills provide trails for hikers and bikers of all abilities. Come explore all that Boise has to offer.
The Treasure Valley is generally considered the Boise metropolitan area and the surrounding communities, which include Ada County (Boise, Eagle, Meridian, Star) and Canyon County (Caldwell, Middleton, Nampa). The name “Treasure Valley” was coined in 1959 to reflect the “treasure” chest of resources and opportunities that the region offers. Previously, the area was known as the “Boise River Valley”. Today, the Treasure Valley is the most populated metropolitan area in Idaho. Native American tribes roamed much of the valley as far back as the late 1700s. During the gold rush of the mid 1800s, farmers and ranchers primarily settled in the valley, initially to supply the nearby mining communities. Many of the earliest settlements were homesteads, with some still being owned today by heirs of the original homesteaders.
Boise Idaho Real Estate
Boise real estate is widely considered quite affordable on a national scale. There are plenty of homes for sale in Boise and surrounding communities which gives real estate buyers many options when searching for their next home. Idaho real estate offers many architectural styles and a wide array of property settings. Boise Idaho has received numerous accolades in regards to it’s low cost of living and high quality of life. Many attribute this low cost of living to the real estate market and low home prices. On this site we will help you discover Boise real estate, Meridian real estate, Eagle real estate, and in general, Idaho real estate. There is also information on Boise ID short sales and Boise foreclosures. A complete Boise MLS real estate search is available with no registration required. If you do not currently have a real estate agent we would love to offer you a complementary tour of Boise real estate. We will assist you in your search for Boise real estate. Once we find the right home for you we will work tirelessly to make sure your real estate transaction is a smooth and enjoyable experience.
One of the metrics used to determine demand vs. supply is Months Supply of Home Inventory. A balanced real estate market—not favoring buyers or sellers—is typically between 4-6 months supply of homes in the real estate market. In November 2016, the Months Supply of Home Inventory for Ada County (Boise real estate, Meridian real estate, Eagle real estate, etc.) was only 2 months, and less than 1 month for existing homes priced below $250,000. Canyon County’s inventory of homes for sale was down compared to last year, as well, but not to historic levels. In November 2016, there were 903 homes for sale in Canyon County, down 5.3% from November 2015 and 8.0% less than October 2016. Existing home inventory was down 22.7% from last year, but new home construction in Canyon County was actually up 23.9%. Months Supply of Home Inventory for Canyon County was at 2.6 months in November 2016, when looking at the real estate market as a whole. It was at 1.6 months for existing homes and at 7.6 for new home construction. The Boise real estate market is experiencing rapid growth with fewer homes for sale than typical.
The low inventory of Boise homes for sale has driven home prices for months now. In November 2016, there were only 1,730 homes for sale in Ada County, just 66 more than the historic low point of 1,664 in January 2013. Compared to a year ago, Boise real estate inventory in November was down 9.8%, but between October 2016 and November 2016, it dropped 21.3%, with 220 fewer homes for sale in Boise, Meridian, Eagle, and surrounding communities. The lack of existing homes for sale inventory pulled new home construction inventory down 0.2% from last year. There were only 868 existing homes for sale in November 2016 in Ada County, which includes Boise real estate, a 17.7% drop in homes from last year at this time, and 22.2% lower than in October 2016.
For the past three months in both Ada and Canyon County, pending sales of existing homes have outpaced inventory, as buyer demand continued to be strong throughout the spring market. Taking a closer look at April 2017 in Ada County, 1,107 existing homes went under contract compared to the 891 existing homes that were available for sale. In Canyon County, 556 existing homes went under contract compared to just 401 existing homes available for sale. Canyon County experienced this same three-month trend in February, March, and April 2016, but it reversed by May 2016. Ada County pending sales were only higher than inventory in April last year. Low inventory has also affected closed sales figures for existing homes, with year-over-year declines in both counties. Real estate in the Treasure Valley offers something for everyone. Boise itself offers a vast array of housing and neighborhood choices, from the chic vibe of the North End to communities nestled in the nearby foothills. If space is what you are looking for, you’ll enjoy many housing choices in the surrounding communities with acreage.
Boise real estate encompasses a broad range of lifestyles; including country living, suburban living, city living, riverside living and mountain living. Whether you’re searching for urban high-rise living, a sprawling estate in the country or a perfect suburban home, Boise has something to offer for everyone. Our unique community has a wide array of housing options in a variety of settings. Land, subdivision, and urban living are all possibilities in the Treasure Valley. If you or someone you know is looking to move to the Treasure Valley we would love to be of assistance. From an area tour to previewing homes, we are ready to help. Come explore Boise real estate!