Boise Real Estate Market: Sellers Capitalize on High Prices

Boise Real Estate Market: Sellers Capitalize on High Prices

While the Treasure Valley real estate market has faced insufficient supply for years — the main driver of home prices — June marked three consecutive months of inventory growth. While still low compared to previous years, there were 729 homes available for sale at the end of the month, up 27.9% from May. That said, low inventory does not mean no inventory.  

Ada County June
Canyon County June

The median sales price for homes in Ada County reached $525,000 in June, nearly even with May 2021.  

After home prices rose above the $500,000-mark last month, homeowners may have been encouraged to list in June, as existing/resale inventory was higher than the previous month and year for the first time since March of 2020, just before the pandemic put the brakes on the Spring market. At the end of June, there were 485 existing homes available for purchase, up 27.0% from May 2021 and up 10.7% from June 2020.  


Analyzing weekly listing activity, we saw a jump in the number of existing properties coming onto the market starting the week of June 6th. Listing activity has been much higher than 2020 (expected due to the COVID-related restrictions in place at that time) and mostly ahead of 2019. 

weekly listing activity

Despite more inventory, the speed of the market reached a new low, as the average number of days between when a home was listed for sale and an offer was accepted dropped to 10 — two days faster than in May 2021 and 22 days faster than June 2020. 

While buyers have access to listings from a variety of real estate websites, we often hear from people who find a home they like online, but by the time they reach out to a REALTOR® for information, the home has already gone under contract. While the recent uptick in listing activity is very positive, you still have to act quickly. As your REALTOR®, Gabriel can help you secure a showing, submit an offer, and alert you to existing properties that may be available soon. Or, if you have time to build, he can identify new construction options that haven’t yet broken ground. 

Connecting with a lender and getting pre-approved before searching for a home is also imperative for buyers using a mortgage. In June, nearly 70% of existing homes sold for more than the original list price — another factor behind rising home prices. On average, buyers paid 6.8% more than the original list price on existing homes. Knowing how much you’re able to borrow allows your REALTOR® to search within a price range to help stay on budget if you’re shopping for homes that tend to go over list price, or possibly a bit higher if there’s room to negotiate. For the 30% of existing homes that sold for less, buyers and their REALTORS® were able to negotiate 3-5% off the original list price, on average, depending on price point.  

Current home prices and competitive market conditions can be challenging for those looking to get into the market, particularly at the lower price points. Some may decide to wait awhile before starting their home search or continue to save for a down payment to improve their purchase options, while others may consider expanding their search area for homes farther from the Boise metro. But for those who are ready to buy, we want to stress that while it may take more work right now, it’s not impossible. There are hundreds of home sales each month and we are here to help guide buyers and sellers through the fast and complex process.

Experienced REALTORS® have been talking about a slight plateau of the market happening within the Boise area. The slight increase of inventory along with sellers still chasing the highest possible price has lead to homes sitting on the market just a wee bit longer than what we have gotten used to in this fast paced market. Though we really aren’t at any sort of turning point or slow down…yet.

As a seller, now remains a great time to sell your property. As a buyer, it’s still a great time to buy a home. At Data Driven Real Estate, we help both our buyers and sellers succeed in any state of the market. Reach out to Gabriel Gutierrez today to get the ball rolling on your real estate investment.

Gabriel Gutierrez


This market report is provided by Boise Regional Realtors, and is available for further reading on their website.

Live the Idaho Dream

Live the Idaho Dream

13788 Hockberger Ranch Road, Caldwell, Idaho 83607

6 Bedrooms | 4 Bathrooms | 3 Car Garage | 7,648 Square Feet

Come live the Idaho dream in this stunning 6 bedroom lake house located in Caldwell, Idaho. This contemporary Idaho home is built to last with steel beam construction. Enjoy spectacular sunrises and sunsets from the backyard and second story deck with views of Lake Lowell and the Treasure Valley front. The entire home is flooded with natural light. Wide plank wood flooring & shiplap vaulted ceilings compliment this unrivaled style. The generously appointed cooks’ kitchen will inspire you to entertain. There is even an open layout daylight basement with 9’ ceilings – a haven for a family looking to make Idaho their home!

Home is offered at $1,975,000.00

Click here for the MLS Listing and here for the 360 Virtual Tour



Outdoor Amenities Include:

  • ~ 2.40 Acres
  • Well: 308′ deep
  • Propane tanks underground on south side of home
  • Pasture has water rights through HOA
  • Outside electrical outlets for Christmas lights
  • Fence line for securing animals

Interior Amenities Include:

  • LED lighting throughout
  • Dog wash in the garage
  • Kitchen has gas range & double ovens (electric)
  • Kitchen outlets are located under cabinets, not on walls
  • Window seats w/storage
  • Wide plank hardwood flooring
  • Daylight basement with 9′ ceilings
  • Reclaimed wood features: shiplap and cedar from family homestead in living room, master bedroom, and mudroom

Construction Amenities Include:

  • Central Vac
  • Pella windows
  • Steel beam construction
  • AquaKlear water filter system
  • 2 water heaters and 2 HVAC systems
  • Extra insulation added throughout home
  • Unfinished space under garage w/built-in safe (can also be an indoor shooting range or “safe room”)

For more information, or to schedule a tour, please contact Gabriel Gutierrez.

Idaho Realtor Gabriel Gutierrez


This listing is presented by Tracy Sidell at Keller Williams Realty Boise.

Fresh on the Market: 2064 N Currant Place, Boise

Fresh on the Market: 2064 N Currant Place, Boise

Data Driven Real Estate is proud to present our newest listing located in Boise, Idaho!

3 Bedrooms | 2.5 Bathrooms | 2 Car Garage | 1,421 sq. ft

Currant Place, Boise
2064 North Currant Place | Boise, ID | 83704

Centrally located in Boise between Mitchell Street and Maple Grove, you’ll find 2064 N. Currant Place. It is less than 10 minutes to the freeway and about 15-17 minutes from downtown Boise. Head west and you’ll find yourself at the Village at Meridian in less than 10 minutes.

Currant place is perfect for a young family, or as an investment property, with its three bedrooms, two and a half bathrooms, and 1,421 square feet.

This home has been recently updated to include new kitchen countertops, new flooring, fresh exterior paint, and much more. The living room is open with plenty of natural light and includes a beautiful stone fireplace as its focal point. Cook up delicious meals in the kitchen that features painted cabinets and white countertops – complete with a farmhouse apron sink. Start a garden and enjoy the large backyard! Home is move-in ready and awaiting it’s new owner!

Open House is scheduled for Saturday, May 1st, 2021 from 12:00 – 3:00 PM.

For more information, please contact the listing agent directly at: Gabriel Gutierrez (208)972-6240


This listing is offered at $430,000 by Gabriel Gutierrez at Data Driven Real Estate w/ Keller Williams Realty Boise.

Boise Home Buyer Spotlight: Brenna B.

Boise Home Buyer Spotlight: Brenna B.

There is so much that goes into buying a home, and we know that process can be daunting – especially when you’ve never done it before! So we interviewed first-time home buyer, Breanna, to get her perspective on the buying process. As you read, you’ll probably share some of her fears and preconceived notions about buying a home. However, just like Breanna, you can learn how to navigate the process and feel empowered when making one of the biggest investments of your life!

Home Buyer Breanna Boise

Prior to purchasing your home, what were some of the preconceived notions you had about the home buying process?

I had no idea what buying a home actually entailed. I read so many articles, how-tos, advice experts on lending and mortgage rates and refinancing- i felt so overwhelmed and under-qualified. I thought i had to have 20% down, cash in hand to even enter the market. I thought my credit could be better, my bank statements could be cleaner, my investment account could be bigger. I always felt a day late and a dollar short. I felt crushed when i would read about agents selling homes for thousands and thousands over asking prices, I thought the odds were stacked against me. I felt foolish to enter the market without California cash. I felt panicky and afraid – which no one should ever feel. 

What did you feel were some of the obstacles you had to overcome in order to buy your home? What were some of your fears?

One obstacle I overcame, and never saw it coming, was being honest about my financial health – and also, stopping obsessing. Nothing makes you more aware of what you spend and how you treat your income like a lending office going through every financial transaction you’ve had for the last 3 months. I had to give it to God, and say, “here it all is.” My situation was better than I expected, and in a few short months, I was handed keys to my very first home. I’m still in awe.

How did Gabriel and Data Driven Real Estate help you with overcoming some of your preconceived notions or obstacles?

Gabriel’s patience and professionalism in every step of the home buying process gave me the confidence i needed to buy a house. I never had a concern or question that Gabriel didn’t already consider. I never felt nagging when I would run ideas, scenarios, and what-if’s by him via text in the middle of our work days. He was always there to bounce ideas back, and had a contact in each department I needed help with (i.e. handy-man, garage door installation, inspector).

I was never making decisions alone, or signing a document i didn’t understand, and that gave me a sense of power I’ve never had before. Gabriel recognized my fears and walked me out of them; he even let me complain about my opinions on the real estate market (as if he isn’t the professional here! HA!)!

Were you pleased with your experience and the process?

Gabriel helped me accomplish my dream, and I am so grateful! I am so happy to have an expert in real estate in my corner for the rest of my life.

Boise Buyer Breanna

What does buying your own home mean for you personally and financially?

I am so proud to own a home!  Financially, this is the best (and biggest) investment I’ve ever made – which leveled me up into a whole different operation.  I have never felt so secure in my life. In my 20’s, I was living paycheck to paycheck , being disorganized with my money and always coming up short to pay rent. That anxiety and instability breeds fear and shame. Finally, I can look at my financial health and feel security. Excitement. Pride. I have never had that feeling before.

On a deeply personal level – the fact I am able to provide a home for my baby daughter brings tears to my eyes. I can finally take a deep breath, look into her eyes, and tell her, “Baby girl, we are finally home.” My grandmothers and grandfathers are smiling from above, I feel it in my bones.  I can finally unpack – both figuratively and literally, and that sense of relief ripples to my soul. I can relax. I can breathe. I can plan for our future and know we will always be taken care of.

This isn’t just a home, it’s a valuable lesson I am able to give to my daughter – and there is no price on that. She will know that investing in ourselves is the best investment we can ever make, and she will never have to worry about living under someone else’s roof. I am so proud.

Is there anything you wish would have gone differently?

My only regret is that i didn’t begin the process sooner! But, as someone in finance, i don’t believe in looking back – the best investment we can make for ourselves is to begin RIGHT NOW!

Would you buy a home again in the future or rent instead?

I will never rent again! Buying a house gave me the freedom to invest in my family’s future! 

If you would buy a home again in the future, would you use Gabriel as your Realtor?

Gabriel was hands down the most genuine, kind, hardworking realtor  I could have ever asked for. He was ALWAYS in my corner and worked behind the scenes for me. We encountered some realtors who didn’t tell the truth and who were rude and condescending – I was reminded again and again why Gabriel is so outstanding. I look forward to our next real estate investment opportunity!


What advice would you give to another first-time home buyer?

Take a deep breath, and know that you’re not alone. This is a big commitment and a game-changer. Do it despite being terrified. Be brave. Imagine what you want and find a path to take you there, and let people help you. The strongest people i know have demonstrated how to ask for help. I am so glad I did.

Buyer Breanna and daughter

Are you ready to make your move? Contact us today for your free, no obligation buyer consult!

First Time Home Buyer Programs

First Time Home Buyer Programs

Reality Check: Even if you are currently renting, you’re paying a mortgage – your landlords mortgage! Monthly rents have shot up throughout the entire Treasure Valley and now more than ever, renters are realizing that the amount they are paying every month could easily be paying an actual mortgage – for a home you own. There are many programs that can help you make that dream a reality.

home buyer programs

National Programs & Grants

FHA

A significant portion of first time home buyers will utilize an FHA (Federal Housing Administration) loan. An Idaho FHA loan is a loan that is backed by the government and buyers are required to put down at least 3.5% of the loan amount in order to purchase a home. What most people don’t know is that there are Idaho first time home buyer programs out there to help first time buyers buy a home with little money down. Some Data Driven Real Estate clients have purchased their first home with as little as $500 down.

Fact: Nearly two-thirds of recent home buyers put down less than 20%. 26% put down just 1%-5% and 10% put down 0%.

USDA RURAL DEVELOPMENT PROGRAM

Designed to help with homeownership in rural areas, Rural Development provides 100% financing with lower fees than most of the other programs. Unfortunately, most parts of Ada and Canyon counties don’t currently qualify. However, one popular qualifying area is Kuna! So if you’re willing to be “out in the country” that is Kuna, an RD loan is worth looking into.

Idaho State and Local Programs & Grants

The Idaho Housing and Finance Association or (IHFA) can help when it comes to helping you get the keys to your first home. These home buyer programs can vary by lender and have various requirements, but here is a quick overview.

IHFA FIRST PLUS GIFT PROGRAM

IHFA provides up to a 2% gift towards your down payment and can be combined with your Idaho FHA loan. So if you need 3.5% down payment, IHFA can help with 2% of that, leaving only 1.5% to put down.

  • Minimum credit score 620.
  • Income must be less than $74,800 in ADA County and $89,760 in Canyon County.
  • Minimum Borrower needs to bring to closing: $500.

IHFA FIRST PLUS 2ND MORTGAGE

The word 2nd mortgage can sound scary, but essentially, you would have your primary mortgage and a small second to pay monthly.

  • Minimum credit score 680. First loan credit score minimum is 640.
  • Income limits apply when used with an FHA loan.
  • Minimum Buyer needs to bring to closing: 0.5% of Loan Amount.

DOWN PAYMENT ASSISTANCE

Just as it sounds, this is a program that helps provide up to 3% of your down payment on your loan or closing costs.

  • Minimum credit score 680.
  • Income limits up to $110,000. Can be used with FHA.
  • Minimum Buyer needs to bring to closing: 0.5% of Loan Amount.

CITY OF BOISE LOAN PROGRAMS

The city of Boise offers home loan programs to buyers, as well as affordable “pocket” neighborhoods. The city may provide up to 25% for your down payment. This loan comes in the form of a 2nd mortgage and you must be purchasing a home within the Boise City Limits.

  • Minimum credit score 620.
  • Income must be less than $41,250 to $77,750 depending on the household size.
  • Minimum Buyer needs to bring to closing: 0.5% of Loan Amount.

These are just a few of the programs available to first time home buyers in Idaho. Hopefully, the thought of financing your home purchase doesn’t seem as scary now that you know there are options. And although home prices are on the rise in the Treasure Valley, now is still a great time to buy a home. Mortgage rates are at historic lows and lenders are more than willing to help you get into the home of your dreams.

So stop making a monthly deposit into your landlord’s bank account and start investing in yourself and your future! If you’re ready to get started, we are here for you.

New to Market: Highly Acclaimed 3/2/3 in Boise

New to Market: Highly Acclaimed 3/2/3 in Boise

**Please note: this home has cancelled off the market**Data Driven Real Estate’s newest listing is located at 14326 Sedona Drive in Boise. The home close to the Meridian/Boise line in the highly acclaimed subdivision of Austin Creek.

14326 Sedona Boise
Photo by: 350 Modern Tours

A well maintained charmer! This three bedroom, two bath home has an open floor plan with vaulted ceilings and suspended plant shelves in the kitchen. Upstairs you’ll find the master bedroom with a sitting room area and ensuite, along with a large bonus room. The 19×11 bonus room has endless possibilities: media room, play room, office, exercise room, or even a master bedroom adjacent nursery! The backyard is fully fenced and the patio is perfect for enjoying shady evenings outside. Fresh exterior paint and new flooring. 14326 Sedona Drive is also extremely close to just about everything you can imagine – local schools, Target, The Village at Meridian, and the Charles McDevitt Youth Sports Complex. Listed for $359,900.

3D Virtual Tour Available – Click here to walk through this home virtually!

Austin Creek Subdivision

Austin Creek is located in the heart of West Boise just off Eagle Road. It’s quiet, quaint, and surrounded by beautiful parks and walking paths. It is just minutes away from key retailers, schools, and highways that will quickly take you to one end of the Treasure Valley to the other. Find out more about Austin Creek on their HOA website.

14326 W Sedona Drive in Boise, Idaho

Local Schools

This home is located within the West Ada School District. There are also several nearby private and charter schools available.
Rocky Mountain High School – 2.5 mi
Heritage Middle – 0.8 mi
Discovery Elementary – 0.8 mi

If you are interested in learning more about this home, or to schedule an in-person viewing, please contact Gabriel Gutierrez directly at (208)972-6240.

To see other listings in Idaho, please use our website to search for homes. For more information, such as market reports and home tips, please visit our blog.