BOISE, Idaho — Ada County's housing market continued its hot streak into June, according to data provided by the Boise Regional Realtors. However, a new trend of homeowners listing their properties is beginning to emerge.
According to Boise Regional Realtors, the median home sale price in June increased to $525,000. In May, the median sale price was $523,000. June also marked the third-straight month of the inventory of homes increasing, with June's inventory up 27.9% over May 2021 and up 10.7% from June 2020.
It was the first time since March 2020 that existing housing inventory was up from the previous month and year.
The association's data found the jump in existing properties entering the market started on June 6. About 70% of existing homes sold in June sold for more than the original asking price, at an average of 6.8% more.
For the 30% of home buyers who were able to get their house for less than the original asking price, they were about to negotiate between three and five percent off, on average.
Boise Regional Realtors also noted that listing activity so far this year has been much higher than in 2020. At the end of June, the association reported there were 485 existing homes available on the market.
The speed of homes selling is also starting the increase, Boise Regional Realtors said. In June 2021, it took ten days between a home being listed and an offering being accepted, two days faster than in May and 22 days faster than in June 2020.
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