boise real estate "by owner" - craigslist (2024)

FAQs

Are home prices dropping in Boise Idaho? ›

Median Home Price in Boise

Buyers can breathe a sigh of relief as the median home price for single-family homes in Boise dropped to $473,000 in September, a 3.3% decrease year over year, based on Redfin data. However, Boise's median home prices were well above the national median of $412,000.

$483,604. The average Boise home value is $483,604, up 3.2% over the past year and goes to pending in around 12 days.

$451,298. The average Idaho home value is $451,298, up 1.5% over the past year and goes to pending in around 27 days.

The median home price for Ada County in 2023 was $524,900, a 7.27% decrease from 2022's $566,075 median price, according to Intermountain MLS. Existing homes sold for a median price of $513,000, down 5% from 2022 when the median price was $540,000. The median price of new homes was $546,900, down from $634,990 in 2022.

Idaho ranked 51st as the most “overvalued” local housing market as of the second quarter of 2023, with a median home price estimated by Redfin of $467,000, Insider reported. Moody's model estimates Idaho's home prices exceed their fundamental value by 41.87%, according to Insider.

Capital Gains Tax in Idaho

In Idaho, capital gains happen when you sell an asset such as a house for more than what you paid for it. As mentioned, this can be a short-term or long-term gain, and you need to report it on your income tax return to the IRS.

The seller and the buyer both pay closing costs in Idaho. In Idaho, real estate transactions are usually closed by escrow agents and title companies.

Is buying a house in Boise a good investment? ›

Idaho's capital city has a record for being one of the best cities for long-term real estate investments. Boise's housing market was ranked as the country's top market by Realtor.com based on the combined yearly percentage growth in home sales and prices.

According to the city's official website: “Boise requires 2,770 units every year for the next 10 years to meet demand … over the last 3 years, housing construction in Boise produced 4,146 units less than the need.” This also helps to explain why home prices in the Boise area started rising again in 2023.

The average salary in Idaho is $41,677 per year or $20.04 per hour. Entry level positions start at $30,137 per year while most experienced workers make up to $106,711 per year.

Needless to say, moving to Idaho will cut your cost of living in half or even one-fourth of what it was back in California.

Yes. This is the best time to buy a house in Idaho. With the current trend in the ID housing market, you'll find better deals on your dream home during Q2 2024. As per Fannie Mae, mortgage rates may drop more in Q2 of 2024 due to economic changes, inflation, and central bank policy adjustments.

On average, the number of homes sold was down 12.5% year over year and there were 1,988 homes sold in March this year, down 2,276 homes sold in March last year. The median days on the market was 58 days, down 20 year over year.…

As of the latest available data, home prices in Idaho are not dropping. In fact, they have shown a modest increase over the past year, indicating continued demand and market stability.

The trends show that home prices are holding steady; and mortgage rates, while still higher than one year ago, are in steep decline. That means more people can afford a home, and it's the reason why Myers is hoping (but not predicting) that the market will heat up this year.