Boise’s summer real estate season is heating up, and the latest data through the end of June shows a market that’s still evolving. Whether you’re thinking of buying, selling, or just staying informed, here’s what you need to know.
📊 Inventory continues to rise
- Boise had 1,318 active listings at the end of June.
- That’s an 8.5% increase from May, and a 23% jump year over year (1,070 in June 2024).
- If this pace continues, expect inventory to keep climbing through July and August.
🏡 Sales are strong—but pendings dropped
- 640 homes closed in June—up 10% from May and 22% year over year.
- However, pending sales dropped 7.5% month over month (from 688 in May to 637 in June), even though they were still up 11% year over year.
This imbalance—rising listings with softening pending sales—could push inventory even higher and begin to affect pricing later this summer.
📉 Interest rates are easing
- Rates have come down from around 7.25% to 6.75% over the last month.
- That shift has opened the buying window for more people—and we’re already seeing more boots-on-the-ground activity from buyers.
📌 What sellers need to know
- Buyers have more choices than ever, so sellers must stand out.
- If you’re listing, you need to:
- Be priced to win—not just priced to test.
- Be in the top 20% of competitive listings in your price range.
- Market your property professionally—quality photos, staging, and presentation matter more than ever.
- Understand that active listings now make up 70% of pricing influence—buyers are comparison shopping hard.
⏳ Average days on market by price point
- Homes under $600K: ~30 days
- Homes over $1M: ~50–60 days
💡 Final thoughts
We’re not seeing price drops yet in Boise—but if inventory continues its upward climb and pending sales soften further, that could change. For now, interest rates have improved, buyer activity is returning, and there are solid opportunities for both buyers and sellers—as long as you’re working with the right strategy.
Have questions? Reach out to your favorite City of Trees Real Estate agent to help you navigate this changing market with confidence.
City of Trees Real Estate
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