Boise Real Estate- May 2014 Main Idaho Real Estate Insights

Is change coming? Change is always coming but a change I was not expecting is happening now in local real estate.

Boise Idaho Real Estate Report

May 2014

This week, a NE Boise Foothills community lowered its building lot prices. I was very surprised. Isn't the market hot? This community sells lots for home valued at over $½M homes.The agent explained that the number of homes selling or being built at this price range is limited so they wanted to be more competitive in pricing.

Even more interesting, he noted that the next day several communities followed suit and also lowered  their prices. Is this going to be a trend? Or at least at upper end home values?

Over the last month, in talking with local professional real estate agents the market has softened. It was noted to me that in December there were 18 homes for sale in Lakemoor but now there at least that many. 

Of course, real estate is local and soft is relative. There are several communities that continue to do well and several builders who  in demand. So softening may have to do more with another aspect of the market- more. There are more builders trying to sell homes and more communities coming online. This creates competition which will lower prices.

Do your due diligence! Ask lots of questions. Don't get attached to one home early on, research plenty of homes, builders, communities so you get what you want. If you can help, just ask.

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Posted by tlangford at 5/17/2014 1:12:00 PM
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Samantha Dunn, Idaho Real Estate Agent

Samantha Dunn



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