October 2018 Market Report

OCTOBER MARKS FOUR YEARS OF DECLINING INVENTORY,
CONTINUING THE PRESSURE ON ADA COUNTY HOME PRICES

 Key Takeaways:

  • October 2018 marks a full four years of falling inventory, specifically in the number of existing homes for sale in Ada County.
  •  This lack of inventory compared to demand is one of the primary reasons that the median sales price continues to rise compared to last year.
  •  The median sales price in October 2018 was $321,398, up 0.8% from the previous month and up 19.9% from October 2017.

 Analysis:

October 2018 marks a full four years of falling inventory, specifically in the number of existing homes for sale in Ada County, when looking at activity by month year-over-year.

There were 870 existing homes for sale in Ada County in October 2018, down 15.0% from October 2017 and down 48.8% from October 2014 when the decline began.

As we’ve outlined in previous reports, there are many reasons the Boise Region is facing a lack of homes for sale. These include the continued population growth, the trend of people choosing to stay in their homes longer than we’ve seen historically, among others.

This persistent lack of existing home inventory is one of the two primary reasons that the area’s overall median sales price continues to rise compared to last year; the second reason, increasing land, labor, and material costs for new homes. For October 2018, this resulted in a median sales price of $321,398, up 0.8% from the previous month and up 19.9% from October 2017.

This nearly 20% increase year-over-year in the overall median sales price for October was primarily due to a higher share of new home sales during the month ― reaching 27.7% of all closed sales, up 10.1% compared to October 2017.

We’ve been talking about the drop in existing inventory literally for years now, but what’s interesting about today’s market is that we’re seeing more and more new construction sales. Whether you’re looking to buy an existing home or a new build, your REALTOR® is going to advocate for you throughout the transaction. And if you’re thinking of selling, these recent numbers indicate that despite the turn in temperature, it’s still a good time to put your home on the market.


HOME SALES AND PRICES UP IN GEM COUNTY

In October 2018, 36 homes sold in Gem County, up 28.6% from October 2017. This left 57 new and existing/resale homes available for sale at the end of the month — down 19.7% from the same month last year. Despite persistently low inventory, Gem County has seen strong sales numbers for the last four months.

The median sales price for homes that sold in October was $199,450, based on activity over the past 12 months — up 11.1% over the same period last year. There are two primary reasons that the median sales price rose compared to last year — the lack of inventory compared to demand, and an increase in the share of new homes sales in October.

Five new homes sold in Gem County in October 2018, the same number as October 2017. However, new home sales made up a larger share of total sales at 11.1% in October, compared to the average of 5-6% we typically see in Gem County. New homes typically sell for higher prices than existing homes due to increased land, labor, and material costs, so when the share of new home sales increases, so does the median sales price.

Apparently, the colder temps haven’t deterred buyers in Gem County. If you’re thinking about selling, now is a great time to put your home on the market. Talk your REALTOR® to find out what your home may be worth and what options are available based on your specific situation.

RESOURCES:

Additional information about trends within the Boise Region, by price point, by existing and new construction, and by neighborhood, are now available here: Ada CountyCanyon CountyGem County, and City Data Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.

ADA Snapshot - Oct 18

Canyon Snapshot - Oct 18Gem Snapshot - Oct 18

Download the latest (print quality) market snapshot graphics for Ada CountyAda County Existing/ResaleAda County New ConstructionCanyon CountyCanyon County Existing/ResaleCanyon County New Construction, and Gem County.

# # #

This report is provided by Boise Regional REALTORS® (BRR), a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

If you have questions about this report, please contact Cassie Zimmerman, Director of Communications for Boise Regional REALTORS®. If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

The data reported is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com. These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS and BRR provide these statistics for purposes of general market analysis but make no representations as to past or future performance. The term “single-family homes” includes detached single-family homes with or without acreage, as classified in the IMLS. These numbers do not include activity for mobile homes, condominiums, townhomes, land, commercial, or multi-family properties (like apartment buildings).

November 2018 Election Recap

Below is a summary of the candidates and initiatives that BRR endorsed in this week’s election. It’s important to know that our endorsements aren’t about placing bets whomever or whatever is most likely to succeed; but rather, we support people and ideas that best reflect our ideals and interests as REALTORS®, as well as our desire to make the community a better place for everyone. Oftentimes this is a very difficult decision, as there are many great and qualified candidates running for office — which was certainly the case this year.

That said, here is the breakdown of our recent endorsements:

  1. Ada County Commissioner District 1: Endorsed Jim Tibbs LOST to Diana Lachiando
  2. Ada County Clerk – Endorsed Phil McGrane WON
  3. Ada County Assessor – Endorsed Robert McQuade WON
  4. Ada County Treasurer – Endorsed Elizabeth Mahn WON
  5. ACHD D3 – Endorsed Paul Woods LOST to Mary May
  6. Ada County Vehicle Registration Ballot Measure – Endorsed a YES vote but measure FAILED (more on this below)
  7. College of Western Idaho Plant Facilities Reserve Fund Levy – Endorsed a YES vote measure need 55% approval blended result in Ada and Canyon. The vote hasn’t been certified yet, but it appears to have FAILED by less than 1/10th of a percentages point with a combined approval of 54.94%.
  8. Gem County Assessor – Endorsed Hollie Ann Strang WON
  9. Gem County Clerk – Endorsed Shelly Tilton WON
  10. Gem County Treasurer – Endorsed Megan Keene WON

As for the Ada County Vehicle Registration Ballot Measure, BRR endorsed this as part of a coalition of elected officials, builders, developers, and other business and community leaders, and we were able to utilize REALTOR® Political Action Committee (RPAC) funds and a grant from the National Association of REALTORS® (NAR) to support it. Because it was unsuccessful, we wanted to share our analysis on it, both why we supported it and why it likely failed.

BRR endorsed this user-based fee because we felt it was the fairest way to address road congestion rather than the all too commonly used increase in property taxes — and to add more bike lanes and improve the safety of children’s routes to school.

Unfortunately, the majority of Ada County voters did not agree. There are many reasons this ballot measure failed. Here are a few:

  1. False information promoted by anti-growth groups and local media. An example of this, many voters believed ACHD chose to increase registration fees on regular motorists instead of commercial, simply because they didn’t want to ask heavy vehicles to pay their share of road usage. The truth is that ACHD does not have the legal authority to do this, only the state legislature can determine whether to increase fees on heavy vehicles (those weighing 8,000 lbs. or more.)
  2. Some voters voiced their desire for “someone else” to pay for more transportation funding, especially developers and new families moving to the area, by raising impact fees or property taxes; however, this would only put more pressure on housing and home prices, exacerbating the concerns over affordability.
  3. Other voters seemed to think these vehicle registration fees were already increasing each year, and that our fees were already too high. They have not gone up since 2008, and we would have continued to have some of the lowest registration fees in the western United States, even if the increase was approved.
  4. Many believed a vote against this ballot measure would improve the chances of getting public transit. This is simply not the case, and ignoring the immediate need for improved funding of our roads and infrastructure only distances community transit from becoming a reality.

Ultimately, supporting this campaign was the right thing to do. We tried to find a fair and balanced solution, through a simple user-based fee. The coalition we worked with on this initiative allowed us to make new friends and demonstrated that REALTORS® have powerful resources and are willing to invest into their community. Looking beyond this issue, we sincerely congratulate every candidate on hard-fought races and wins, whether or not they received our endorsement. We look forward to continuing to build upon existing relationships and forge new ones as we work together to address the opportunities and issues in our community.

Lastly, thank you to the members of BRR’s Public Policy Committee, Board of Directors, and everyone who invested in the REALTORS® Political Action Committee (RPAC) for supporting these advocacy efforts. If you have further questions about the elections, our endorsements, or to learn more about RPAC please don’t hesitate to contact me at soren@boirealtors.com.

 

Boise Regional REALTORS® Help Open New Foothills Trail

Trailhead-25Boise Regional REALTORS® (BRR) is having another tremendous year of successfully being awarded REALTOR® Party grants, which help us advocate important issues and strengthen our community relationships. Most recently, we completed a partnership with The Land Trust of the Treasure Valley, in conjunction with Cartwright Ranch, the Hidden Springs Community, and several private landowners. With the use of various public trail agreements, Boise Regional REALTORS® were able to provide trail markers, a trailhead sign, and map, along with hardworking volunteers who helped create a safe path for our entire community to enjoy. On September 21, 2018, we were able to officially open the Cartwright Trailhead with a ribbon-cutting ceremony.

As part of our REALTOR® Party advocacy and community engagement efforts, the trailhead sign and markers were paid for by a National Association of REALTORS® Placemaking Grant, secured by Boise Regional REALTORS® (BRR) as well as BRR presidential gift money. BRR’s direct contribution was dedicated to our Immediate Past President Katrina Wehr, an avid mountain biker and outdoor enthusiast.

For those of you who are unfamiliar with the Cartwright Trail, it offers beautiful views of the valley and surrounding mountains. It’s also significant because it is becoming a vital connection to various different open spaces in the western foothills. BRR encourages association members and the public to explore and enjoy this new trail in the foothills.

“Our members are real estate professionals in the community who understand the value and support the creation and maintenance of trails and open space,” said Gary Salisbury, 2018 Boise Regional REALTORS® President and senior sales consultant for Equity Northwest Real Estate. “Bringing to life a new segment of trail was a natural fit for us and we look forward to enjoying it for years to come.”

PHOTO GALLERY

Read the Land Trust of the Treasure Valley’s blog post here – lttv.org/news/2018/9/25/a-new-trail-takes-shape-in-the-western-foothills.

2018 Annual Membership Meeting Recap

Thanks to everyone who attended the 2018 Annual Membership Meeting on September 19! Below you’ll find a summary of the discussions, links to the various presentations, and links and resources referenced at the Annual Membership Meeting.

BRR President Gary Salisbury started the morning by welcoming members, thanking our sponsors, and sharing a video highlighting the Collective Impact our members have had on our community over the past year, which you can watch below.

Bylaws Voting & 2018 Election Results

Andy Enrico, BRR’s Bylaws Committee Chair, presented the proposed Bylaws changes which were voted on by the membership in attendance. These changes were approved, will go into effect on January 1, 2019.

SUMMARY OF PROPOSED BYLAWS AMENDMENTS FOR 2019 (PDF)

Debbi Myers, BRR’s Nominating and Elections Committee Vice Chair, announced the winners of the 2019 Director Elections, as follows,

  • 2019 Vice President — Jeff Wills
  • 2019-2021 BRR Directors — Michele de Reus, Elizabeth Hume
  • 2019-2021 State Directors — Julie DeLorenzo, Chelsea Hough, Elizabeth Hume, Peach Peterson, Gary Salisbury
  • 2019 State Directors — Becky Enrico-Crum, Susan Weaver

Our 2019 officers and newly elected directors will begin their terms on January 1, 2019.

Multi-Faceted Leadership: How to Shine in Your Business, Professional Network, and Community

Colette English Dixon Presentation Image - compressed

 

Collette English Dixon, Executive Director for the Marshall Bennett Institute of Real Estate at Roosevelt University, presented on leadership and how real estate pros can shine in every aspect of their life, professional, and personal.

 

Legal Update - Finley Maxson and Tim Tyree 9.19.18 - compressed image

 

Finley Maxson, Senior Counsel for NAR, and Tim Tyree, Partner at Hawley Troxell, shared a legal update with attendees, touching on surveillance issues and how to protect yourself and your clients from wire fraud.

Here are 10 Important Steps for Cyber Security:

  1. Start with security.
  2. Control access to data sensibly.
  3. Require secure passwords and authentication.
  4. Store sensitive personal information securely and protect it during transmission.
  5. Segment your network and monitor who’s trying to get in and out.
  6. Secure remote access.
  7. Apply sound security practices when developing new products.
  8. Make sure your service providers implement reasonable security measures.
  9. Put procedures in place to keep your security current and address vulnerabilities that may arise.
  10. Secure paper, physical media, and devices.

 

Don’t Believe the Hype: Tech, Marketing, and Processes that Actually Matter

Nobu Hata, Director of Member Engagement for NAR, broke down what tactics work, and which are over-rated when it comes to marketing your business.

HypeBOISE Image

 

BRR Committee Applications

Ready to get involved with BRR, IMLS, or a Foundation committee? BRR will be accepting applications from now until Friday, October 19, 2018. Apply today!

BRR Committees Letter Block

 

2018 AMM Sponsors

 

 

Surveillance Tents for Sale

Looking for more of the surveillance tents BRR was selling at the membership meeting? Stop by the BRR office during office hours to pick some up! Only $1 for Members/$3 for Non-Members.

Surveillance Tent

 

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August 2018 Market Report

MORE NEW CONSTRUCTION SALES DROVE
ADA COUNTY HOMES PRICES HIGHER IN AUGUST

Key Takeaways:

  • The median sales price for Ada County reached a new record in August 2018, of $334,400 for existing and new homes combined. This was up 20.3% over the same month last year, and up 4.8% from July.
  • Local home prices are being driven by the persistent and historically low inventory of existing homes compared to demand, and more new homes selling at overall higher prices, primarily due to rising construction costs.
  • In August 2018, the median sales price of existing homes in Ada County reached $309,200 — a new record — up 9.0% over August 2017. This number mostly reflects homes that went under contract in June and July — when we had the fastest market times on record — indicating that many buyers offered higher prices to be competitive in the face of high demand for the persistent low inventory.

Analysis:

The median sales price for Ada County reached a new record in August 2018, of $334,400 for existing and new homes combined. This was up 20.3% over the same month last year, and up 4.8% from July.

As we’ve shared many times through our market reports, local home prices are being driven by the persistent and historically low inventory of existing homes compared to demand, and more new homes selling at overall higher prices, primarily due to rising construction costs.

On average, the share of monthly homes sales that are new is typically between 22-23%, meaning the other 77-78% of the sales are of existing homes. When the share of new home sales goes over 24% or 25%, we will see overall home prices (looking at existing and new homes together) increase, on average, between 12-14% year-over-year. As the share of new home sales increases, so does the overall median sales price.

This is what’s meant by “overall home price being driven up by more new homes selling.” To further illustrate this trend, the table below shows the share of new home sales for the five months this year in which we’ve had record high prices:

Month Share of Sales that were New Homes Overall Median Sales Price YOY % Change
Mar 2018 30.7% $308,950 +23.6%
May 2018 28.0% $305,000 +16.4%
Jun 2018 26.7% $324,647 +18.5%
Jul 2018 25.2% $319,000 +18.2%
Aug 2018 26.8% $334,400 +20.3%

 

But new home prices are just half of the story.

In August 2018, the median sales price of existing homes in Ada County reached $309,200 — a new record — up 9.0% over August 2017. This number mostly reflects homes that went under contract in June and July — when we had the fastest market times on record — indicating that many buyers offered higher prices to be competitive in the face of high demand for the persistent low inventory. Inventory is needed in all prices points, and that’s eventually what will help our market come back in to balance.

In comparison, the median sales price for new construction was at $386,470 in August 2018, up 8.6% over August 2017, and the most recent record high for the new home segment was $393,705 in June 2018.

If our market conditions of low inventory and high demand continue, there is no guarantee we’ll see prices drop significantly over the next few months.  However, those thinking about selling or buying shouldn’t be concerned with ‘timing the market,’ because the best time to buy or sell is when it fits your needs and circumstances. If you’re thinking about making a move, talk to your REALTOR® to explore your options.


HOUSING INVENTORY DROPS AGAIN IN
GEM COUNTY WHILE DEMAND REMAINS STRONG

In August, we saw the supply of Gem County homes drop 5.3% from the month before. August also marked the 45th month of consecutive year-over-year declines in the overall (existing/resale and new construction combined) supply of housing for Gem County.

However, the lack of inventory didn’t deter sales — or prices. Closings were up with 42 homes sold in Gem County, an increase of 55.6% from August 2017. The median sales price for homes that sold in Gem County was $195,489 in August, based on activity over the past 12 months — up 12.3% over the same period last year.

A persistently low supply of homes is only half of the story, the other factor is demand. Looking at the supply-demand ratio of months supply of inventory — which takes the number of homes for sale divided by the average number of sales by month — there were 1.9 months in August 2018, down 20.8% from August 2017. A balanced market—not favoring buyers or sellers—is typically between 4-6 months of supply. Homes that closed in August spend an average of 22 days on the market before going under contract, 24.1% faster than in August 2017, and another indication of strong demand.

Based on activity in both existing/resale and new construction homes over the past 12 months, the median sales price for the city of Emmett was at $189,900 in August, a gain of 1.7% over the same period last year. Home sales were also up with 35 homes sold in August 2018, compared to 22 in August 2017, an increase of 59.1%.

With these market conditions of low inventory and high demand, homes are selling fast. If you’re thinking about making a move, work with your REALTOR® to understand your options and be ready to make an offer quickly when the right home comes on the market.


RESOURCES:

Additional information about trends within the Boise Region, by price point, by existing and new construction, and by neighborhood, are now available here: Ada CountyCanyon CountyGem County, and City Data Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.

ADA Snapshot - Aug 18Canyon Snapshot - Aug 18Gem Snapshot - Aug 18

Download the latest (print quality) market snapshot graphics for Ada CountyAda County Existing/ResaleAda County New ConstructionCanyon CountyCanyon County Existing/ResaleCanyon County New Construction, and Gem County.

# # #

This report is provided by Boise Regional REALTORS® (BRR), a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

If you have questions about this report, please contact Cassie Zimmerman, Director of Communications for Boise Regional REALTORS®. If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

The data reported is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com. These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS and BRR provide these statistics for purposes of general market analysis but make no representations as to past or future performance. The term “single-family homes” includes detached single-family homes with or without acreage, as classified in the IMLS. These numbers do not include activity for mobile homes, condominiums, townhomes, land, commercial, or multi-family properties (like apartment buildings).

 

Register for the Annual Membership Meeting!

AMM 2018 Logo - Color logo

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The 2018 BRR Annual Membership Meeting will be held on Wednesday, September 19, at Boise State University.

One Day. One Venue. Excellent Speakers. Vendor Showcase. Election Results. Bylaws Voting. Free Lunch.  Happy Hour. Networking. Ideas to Grow Your Business. Something to Benefit Every BRR Member!

The BRR Annual Membership meeting is a FREE event for BRR Members, where the annual business of the association (director election results, bylaws voting, successes from the previous year) is conducted; in addition to educational sessions, networking and ideas to grow your business. Find FAQs, agenda, and sponsorship opportunities on the Annual Membership Meeting event page.

Click to enlarge flyer

Click to enlarge flyer

2019 BRR Director Candidates

BRR Votes Icon 2019

 

Online voting is open now until September 18, 2018, at 11:59 PM MST. Eligible voters will have received an email with their login information. Can’t find that email? Contact Cassie Zimmerman with any voting questions or to have your login information resent. Cast your vote now!

VOTE

Here you will find each candidate’s professional bio and candidate statement for the following positions:

Online elections will be open August 30 – September 18. Election results will be announced September 19, at the Annual Membership Meeting.

BRR VICE PRESIDENT – (1 Candidate for 1 Opening)

In addition to the responsibilities noted for a Director, the BRR Vice President will be the primary liaison between all BRR committees and the Board of Directors. The Vice President will also assume the responsibilities of the President in their absence (and in the absence of the President-Elect) and will assist the President in carrying out the functions of the office.

Term: January 2019–December 2021; One year as Vice President, then progress through the offices of 2020 President-Elect, 2021 President, then Immediate Past President in 2022.

 

JefferyJeffrey Wills, Amherst Madison Real Estate Advisors

Click to read Jeffrey's professional bio

Jeff is the owner of Do Work Realty and Partner REALTOR® at Amherst Madison Real Estate Advisors. He is a continual Top Producing REALTOR® and serves on the Board of Directors for the Boise Regional REALTORS® as well as is a long standing Coordinator for Boise Regional REALTOR®’s Circle of Excellence Committee. Jeff is a member of Bridge Builders BNI group and is an avid member of the Young Professionals Committee in the greater Boise area. Jeff was nominated for running in 2017 “Boise’s Best” REALTOR®. He is a vital leader within his community as a mentor to other REALTORS®; teaching them the utmost in ethics, morals, hard work and creating personal relationships throughout the industry.

As an Idaho Native growing up in Kuna, Jeff started his college career at the University of Idaho. He then traveled to Portugal to advocate the rights of others where he became fluent in Portuguese. Returning to his hometown after a couple of years, he attended Boise State University and obtained his Communications Degree. During that time, he launched his successful real estate career with CBH Homes and learned the art of selling New Construction Homes. Jeff has since been a dynamic force in the local Treasure Valley real estate market.

Jeff has developed a powerful network of business allies and leverages the strength of his contacts for the benefit of his clients; before, during and after their transactions close. Jeff has a passion for the process of helping buyers refine their dreams to accomplish home ownership, leading sellers successfully through the pitfalls of selling and most importantly looking out for his client’s best financial outcome through strong negotiating skills.

Jeff’s opportunities to live abroad in Europe, Texas, and Southern California have cemented the special love he has for this beautiful state and has heightened his understanding of the rare jewel the Treasure Valley community is and what it is evolving into. Jeff’s passion for the greater Boise area is expressed in the active Idaho lifestyle he participates in. He greatly values the opportunity Idaho provides him and his wife to raise their two children in a safe community environment. He thrives on enjoying snowboarding the local ski hills, running marathons, supporting downtown events and businesses and networking with so many like-minded entrepreneurs.

 

Candidate Statement:

“Through 10 + years in the real estate industry and having served in various positions within the association on various committees and as a Director on the Board, I truly have a passion for the work that is done throughout the BRR Association. I believe to my core that the service that happens within the walls of the association are some of the most important work that is done for the long-term benefit and sustainability of not only our members, their business and the entire industry, but for the entire community and all current and future real estate owners in general.

I love everything about this industry, and I have benefited so much from it as an individual, business owner, family, husband, and now father, that I feel it would be a major honor to continue to give of myself, time, energies and talents to help maintain the direction of the association while doing all I can to improve upon it, and help to continue to bring value, growth opportunities, leadership, security, and direction to not only our members, but the entire industry and community alike.” – Jeffrey Wills

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BRR DIRECTOR – (3 Candidates for 2 Openings)

A Director of the BRR Board will advise, govern, oversee policy, and assist with the leadership and general promotion of the association, in support of the association’s mission.

Term: January 2019–December 2021

MicheleMichele de Reus, Accel Realty Partners

Click to read Michele's professional bio

I am a native Idahoan. I started in the industry as a sales manager at Hidden Springs where I worked with top custom home builders, many of them still in business today. My expertise includes all Ada County and Canyon County. With my proficiency and knowledge of the market, I successfully bring transactions to a close with a win-win for everyone involved. I am connected nationally to many experienced and wonderful agents who can help you or your family/friends should you have a real estate needs in other states.

If you want to get the local intelligence, then I am the REALTOR® for you. My extensive knowledge of the Boise market goes beyond the boundaries of the homes that I sell. It would not be unusual to see me giving a tour of the Boise Foothills via my mountain bike, hiking or downhill skiing Bogus Basin Ski Resort. I love living in this area and love sharing great restaurants and entertainment/sport venues, depending on your interests. I wrote a book, Daring to Choose, in 2012 and actively share this with the audience in which it was intended.

I enjoy volunteering and serving the community and or the real estate industry. I am a leader in our industry and find ways to give back. Currently, I am the 2018 State Governor of Women’s Council of REALTORS® – Idaho Network. From every transaction closed, I donate a portion of the profit back to our local charities serving our local families.

I consider myself a boutique sales agent. My goal is to manage 24 – 36 transactions a year so that I can provide the utmost customer service to my clients. I’m with them every step of the way.

 

Candidate Statement:

I love this business and our industry. With over 15 years in the business and my 6+ years in leadership positions within Women’s Council of REALTORS® both on the local and state board and the Boise Regional REALTORS®, I believe that I would be a strong candidate to serve as the 2019 Boise Regional REALTORS® Director.

I have strong communication skills and as the current 2018 State Governor for Women’s Council of REALTORS® – Idaho Network, my responsibilities include reviewing and guiding the local networks with their strategic plans and annual budget plans; and overseeing the bylaws and administrative policies and procedures.

I would look forward to the opportunity to serve as a Director for our local association.” – Michele de Reus

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ElizabethElizabeth Hume, Silvercreek Realty Group

Click to read Elizabeth's professional bio

Keller Williams Realty Boise, Remax Executives, Atova, Inc., Real Estate, and Group One Real Estate, Eagle, ID June 2005 – Present
Business Center Broker/REALTOR®/Associate Broker
Awarded City of Boise real estate agent contract 2 012-2017. Top Producer 2006, 2011, 2013, 2015, 2016. Proactively develop tailored marketing plans for clients, serve as purchasing client advocate, conduct diligent research, and provide extensive vendor coordination throughout sales lifecycle. Demonstrated credibility through creation of industry-relevant blog and newsletters.

Instructor Boise Regional REALTORS® 2016- Present

Idaho Office for Refugees, Boise, ID August 2001 – September 2005
Project Specialist
Responsible for designing and deploying statewide Microsoft Access database to track refugee population in Idaho. Supervised software integration. Implemented business and technical training for clients. Developed and analyzed statistical reports for government, agency management and community use. Project management, including organization of World Refugee Day celebrated with picnic, art & craft show, and Statehouse rally of over 300 attendees.

New Horizons, San Diego, CA December 2000 – July 2001
Instructor
Trained professionals in Access, Excel, Word, PowerPoint, Outlook, Project

NASCAR Silicon Motor Speedway, Atlanta, GA August 1999 – June 2000
Senior Training Coordinator, Assistant General Manager
Oversaw the training of 12 national sites, traveling extensively to ensure effective transfer of knowledge. Revised and published staff and supervisor training manual. Developed and implemented new marketing strategy and increasing the organization’s
visibility both in Atlanta and nationally. Recruited, selected, and trained new management (Douglasville GA, Buffalo NY, Nashville TN).

Gordon Biersch Brewery and Restaurant, Las Vegas, NV July 1997 – August 1999
Manager/New Restaurant Opening Training Coordinator
Managed the opening of 7 new sites. Effectively recruited, selected, and trained entire site’s new staff, for restaurants in Las Vegas, Tempe, Orange CA, Seattle, Laguna Hills CA, San Diego CA. Managed merchandise sales, restaurant operations, group sales, and talent booking for live music program. Conducted market pricing studies. Revised and published corporate training manual for use throughout the organization.

 

Candidate Statement:

I believe that Boise Regional REALTORS® does a great job of linking our REALTOR® community together, I would like to be a part of this organization and help make our association stronger. I have background in training and leadership and am ready to participate more in the leadership of my vocation.

I feel that we need strong leaders with a strong moral compass to lead our industry. We need people who are willing to lead by example and do the right thing, even when it is hard. We also need these people to have compassion and understanding that we are all people working and learning together. I believe that I have these characteristics.

I work with a diverse group of buyers and sellers and see their struggles with buying home no matter what price level of home they are buying or selling. I work hard every day to learn more so I can help these folks have smoother transactions. I believe I am modeling what a great agent is capable of and want to help others in our industry to do the same.” – Elizabeth Hume

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SusanSusan Weaver, Windermere Powerhouse Group

Click to read Susan's professional bio

Licensed since 1984 and actively selling real estate full time since 1997, I’ve been blessed to be living and selling homes in the Boise area that last 5 years. Prior to Boise, I was actively selling in Idaho Falls. While there, I served on the Board, participated as Women’s Council President locally and as treasurer on the state board. I served on the Board of Directors for Idaho Partners for Homebuyer Education, Inc. and taught the Finally Home class regularly to first time home buyers.

I serve on Professional Standards hearings.

I am an RPAC major investor.

 

Candidate Statement:

“I am passionate about being involved in the protection, advocacy, and professionalism of the Real Estate Industry. I love serving and supporting my fellow REALTORS® in doing our business day to day, in serving and protecting clients in reaching their goals.” – Susan Weaver

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IR DIRECTOR FROM BRR– (7 Candidates for 7 Openings)

The State Director from BRR to Idaho REALTORS® (IR) will advise, govern, oversee policy, and assist with the leadership and general promotion of the state association, in support of IR’s mission. More information about their programs is available at idahoREALTORS®.com.

Term: January 2019–December 2021

 

JulieJulie DeLorenzo, Keller Williams Realty Boise

Click to read Julie's professional bio

Julie DeLorenzo is a veteran of the real estate industry starting her journey in 1994.  She owns and operates Julie DeLorenzo Realty associated with Keller Williams Realty Boise, having helped launch the Boise market center in 1999.

Julie served at the national level as NAR Regional Vice President in 2017, is the current Vice Chair for NAR’s Public Policy Committee and serves on the Consumer Advocacy Advisory Board.  She was honored to serve on the NAR CEO Search Replacement Committee last year, tasked with selecting NAR’s new CEO.  She is a past Idaho Realtors® President and past Chair and current member of Boise Regional Realtors® Public Policy Committee.  Julie was selected by her peers in 2003 as the Idaho REALTOR® of the Year.

Appointed to the Idaho Transportation Board by Governor Otter in 2012, Julie is the second woman ever to serve on this statewide, non-partisan board. The board is charged with funding and policy decisions with an annual budget of over 750 million dollars.  She serves on the board of the Women and Children’s Alliance and directs the Tom DeLorenzo Memorial Scholarship for Ballet Idaho.

Julie’s son and daughter-in-law are living in Rota, Spain, stationed there with the Air Force, and her three bonus daughters and families live in Boise.  They have blessed her with six adorable, brilliant and rambunctious grandchildren!

 

Candidate Statement:

“My involvement in the real estate industry and the REALTOR® association quickly led me to leadership opportunities at the state and national levels.  At this point in my career, my time and passion has turned to my clients, my business and my community here at home.  It is my desire to give back to the members who have supported and trusted me – they have always been there for me and have given more to me than they could ever know.” – Julie DeLorenzo

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ChelseaChelsea Hough, Keller Williams Realty Boise

Click to read Chelsea's professional bio

My mission aka my “Big Why: is to create space for people to grow and create awesome lives. After running myself into brick walls for the last 12 years in the industry I started building a team and today I have the honor of working with 7 others in our business. My passion for the real estate industry is fierce, there is no other occupation that allows the same freedom and opportunity. Whether buying and selling, investing or managing, I love all things real estate. I also know that as a “veteran” in the business it is my job to now help protect it.

 

Candidate Statement:

“Growing a team is the hardest thing that I have ever done, the learning curve is steep and the opportunity for growth is unmatched. I have been challenged in my ability to lead and have found in that an insatiable desire to continue to grow in this area. Currently, I hold the President-Elect position for the Women’s Council of REALTORS® State Network and would like these positions to be a natural complement to one another. It has never been more clear that as leaders in the industry it is our job to protect and guide it.”– Chelsea Hough

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ElizabethElizabeth Hume, Silvercreek Realty Group

Click to read Elizabeth's professional bio

Keller Williams Realty Boise, Remax Executives, Atova, Inc., Real Estate, and Group One Real Estate, Eagle, ID June 2005 – Present
Business Center Broker/REALTOR®/Associate Broker
Awarded City of Boise real estate agent contract 2 012-2017. Top Producer 2006, 2011, 2013, 2015, 2016. Proactively develop tailored marketing plans for clients, serve as purchasing client advocate, conduct diligent research, and provide extensive vendor coordination throughout sales lifecycle. Demonstrated credibility through creation of industry-relevant blog and newsletters.

Instructor Boise Region REALTORS® 2016- Present

Idaho Office for Refugees, Boise, ID August 2001 – September 2005
Project Specialist
Responsible for designing and deploying statewide Microsoft Access database to track refugee population in Idaho. Supervised software integration. Implemented business and technical training for clients. Developed and analyzed statistical reports for government, agency management and community use. Project management, including organization of World Refugee Day celebrated with picnic, art & craft show, and Statehouse rally of over 300 attendees.

New Horizons, San Diego, CA December 2000 – July 2001
Instructor
Trained professionals in Access, Excel, Word, PowerPoint, Outlook, Project

NASCAR Silicon Motor Speedway, Atlanta, GA August 1999 – June 2000
Senior Training Coordinator, Assistant General Manager
Oversaw the training of 12 national sites, traveling extensively to ensure effective transfer of knowledge. Revised and published staff and supervisor training manual. Developed and implemented new marketing strategy and increasing the organization’s
visibility both in Atlanta and nationally. Recruited, selected, and trained new management (Douglasville GA, Buffalo NY, Nashville TN).

Gordon Biersch Brewery and Restaurant, Las Vegas, NV July 1997 – August 1999
Manager/New Restaurant Opening Training Coordinator
Managed the opening of 7 new sites. Effectively recruited, selected, and trained entire site’s new staff, for restaurants in Las Vegas, Tempe, Orange CA, Seattle, Laguna Hills CA, San Diego CA. Managed merchandise sales, restaurant operations, group sales, and talent booking for live music program. Conducted market pricing studies. Revised and published corporate training manual for use throughout the organization.

 

Candidate Statement:

I believe that Boise Regional REALTORS® does a great job of linking our REALTOR® community together, I would like to be a part of this organization and help make our association stronger. I have a background in training and leadership and am ready to participate more in the leadership of my vocation.

I feel that we need strong leaders with a strong moral compass to lead our industry. We need people who are willing to lead by example and do the right thing, even when it is hard. We also need these people to have compassion and understanding that we are all people working and learning together. I believe that I have these characteristics.

I work with a diverse group of buyers and sellers and see their struggles with buying home no matter what price level of home they are buying or selling. I work hard every day to learn more so I can help these folks have smoother transactions. I believe I am modeling what a great agent is capable of and want to help others in our industry to do the same.” – Elizabeth Hume

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PeachPeach Peterson, Accel Realty Partners

Click to read Peach's professional bio

Serving real estate needs with integrity and professionalism for over 35 years!

Peach Peterson, is the quintessential Lifestyle Property Broker and founding partner and mentor/coach ACCEL Realty Partners.

She looks forward to assisting you in your Real Estate needs, in her very “Peachy” way, as her client she will make your wants, needs & dreams her top priority!

Peach started out in the Real Estate business at a very young age, working through her career start as a trust account manager, all the way to the highest designation in the industry not only as a top producing REALTOR®® but also as an employing and managing (designated) broker of several real estate offices. She has honed her career in real estate, both in “big box” franchises as well as in independent “boutique” firms for over 35 years.

After years of ownership and management, Peach decided to go back into sales & marketing because she missed the day to day connection with clients. As a founding member of the Associate Brokers Group at ACCEL Realty Partners, she is able to blend her expertise as a designated broker with her knowledge in top-notch marketing and negotiations for her clients. As your real estate agent Peach will dedicate her knowledge and experience to best fit your needs. She is an excellent communicator that puts her clients wants and needs at the forefront of every working day. As a certified coach and mentor Peach is able to share her love of the business and knowledge of the industry with agents and peer groups across the nation.

During her real estate career, she has had the unique benefit of either being a franchise owner or a broker within some of the top real estate companies in the world: from being one of the youngest woman broker/owners at RE/MAX to her early start at age 18 with Century 21 in Colorado—as a partner at several Windermere franchise as well as an Associate Broker with Keller Williams— so has learned every system that big box companies can teach and she has learned them well.

A long and successful career in real estate through several economic up and downturns has allowed her to gain experience and hone her skills from the best in the business. Her experience includes partnerships and ownership in a mortgage brokerage, a construction company and a property management company that had in excess of 150 employees and multiple investor clients. As your REALTOR®, she puts all that experience and knowledge to work for you.

Her personal philosophy about Real Estate, however, isn’t about the property or the systems—it’s about the people she serves. Her #1 priority is her clients. Their lives and their dreams. It is about the way they feel when they find their “perfect” property. She hears it—when that property speaks to you. As your REALTOR®, Peach is honored to be a part of that special time and takes that responsibility seriously.

Throughout her professional career, she has helped 1000’s of clients realize their dreams. Peach has worked with investors, new home buyers, and builders as well as landowners with their own development projects. Her past experience as a managing partner in a mortgage company allows Peach to assist her clients in finding the right lender to finance their home purchase. Whether you are a veteran homeowner looking for a retirement or second home, or a first-time buyer, Peach is always there to help you.

Looking for a new home? Or having one built? As a past developer and partner in 2 construction companies, Peach worked directly with each contractor to ensure detailed service from start to finish of their build project. From that experience, she has developed a unique program for buyers of new homes who also need to sell their existing home before they can build. She works directly with the builders to negotiate on their behalf so that their new home can be built WHILE their home is still listed. She works with a special team of builders, lenders, and specialists that understand these unique needs.

She will listen to your needs, your goals, and your dreams, finding solutions that are tailored to you. Close communication between all the parties to ensure all the “moving parts” of every transaction go as smoothly and timely as possible. From the client, both buyers, and sellers, to the lender, to the cooperating agents, title, escrow, inspectors, and contractors–that may be part of each transaction. Peach is there all the way! This comes from years of experience in all facets of the real estate industry.

 

Candidate Statement:

“I would like to assist in helping to serve in the industry that I love and work, and to put my skills and knowledge and over 40 years of experience in the real estate industry to help my fellow associates, and board in a more hands-on role in the service of the general membership and its board(s).” – Peach Peterson

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GaryGary Salisbury, Northwest Equity Real Estate

Click to read Gary's professional bio

Full-time REALTOR® since 2001.

Multiyear recipient of Sales production awards

REALTOR® of the Year — Ada County Association of REALTORS® in 2011

 

Candidate Statement:

“I desire to continue my involvement with the IR BOD. I believe it is critical to have a strong state association that supports local members, local staff and provides advocacy for the local associations.” –Gary Salisbury

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CURRENT IR DIRECTORS FROM BRR SEEKING EXTENSIONS

Crum, BeckyBecky Enrico-Crum, Andy Enrico & Company Real Estate

Term: Seeking one-year extension to current term, January 2019 – December 2019

Click to read Becky's professional bio

Growing up in a real estate family has given Becky a very strong understanding of the importance of service to her clients. As a second generation Realtor with over 20 years helping dreams come true with home ownership, the mentoring and knowledge she has gained along the way is priceless.

She has an outstanding reputation for her “positive” negotiating skills gained over a long career in both real estate and corporate management and sales. Her long-time knowledge of the Boise area as a native and more particularly the real estate market both here and McCall, combined with her “tell it like it is” approach along with her many community contacts are a real asset to her clients. This is why she has so many of her clients referring their friends and family to her.  An active school volunteer, she has been involved with annual fund raising events, Art Mom, Board member and served as PTO President. Operation School Bell was a favorite, which helped clothe kids in need.

She volunteered for her children’s sporting activities & several other youth oriented community organizations, she and her husband most recently housed a Rotary Exchange Student from Slovakia and athletes from Sweden & Canada.

For many years, her and her family have volunteered for both “Paint The Town” and “Rake Up Boise” (annual community volunteer programs for older & fixed-income homeowners who aren’t able to maintain their homes). She’s also an active volunteer in her church.

Becky is a “Graduate of The Real Estate Institute” (GRI) from the National Association of Realtors® (NAR) and a lifetime member of the Boise Regional REALTORS® (BRR) “Circle of Excellence/Top Producer” and BRR’s “Honor Society”. Twice been a nominee for “Tribute To Women & Industry Award”.

Becky believes in giving her time back to her industry and has served on many committees at both the state & local level. These include: “Circle of Excellence Committee”, “Political Affairs Committee”, “Outreach Committee”, “State Convention Committee”. She currently serves on the BRR’s “Foundation Board”, “Outreach Committee” and “Nominations Committee”, and is part of the “Welcome Committee” for Women’s Council of REALTORS®.

She’s a State Director for the Idaho Realtors and President of the Broker’s Council of Idaho. (a marketing group of over 30 “non-franchised” brokerages and affiliates).

Her “fun time” consists of spending time with her family, mountain biking, hiking, wake surfing, downhill & cross country skiing, snowshoeing, cooking & traveling. She enjoys spending time at their family cabin in McCall, a resort community 2-hours North of Boise. Of course, she enjoys Boise State Football Season.

Becky loves working with both buyers and sellers and is committed to continue to treat them as she would like to be treated herself.

Candidate Statement:

“I care deeply about our Association, the staff and members both REALTOR® and Affiliates that make our organization great. As an active REALTOR® since 1996, I am all for the ” Feet on the Street” folks! I work day to day in the “trenches” running my business with my husband. I feel we need to know the latest and greatest in technology, community events, legislative issues and continued day to day politics along with mortgage information to be a true professional to help my clients through the biggest financial decision they will make. Also to share ideas, helpful hints, & mentor each other as professional REALTORS® & Affiliates that make this industry flourish! I would like to remain a member of the Board to stay informed & up to date with our industry & to give back in service to our members/affiliates & staff with anything I can share from experience along with help I can give physically. I would like to share in being mentored as a professional and be a mentor where needed. I have learned this is helpful both ways to share with each other. I would be grateful for this opportunity and be honored to serve this wonderful organization. Thanks for your consideration.” – Becky Enrico-Crum

SusanSusan Weaver, Windermere Powerhouse Group

Term: Seeking one-year extension to current term, January 2019 – December 2019

Click to read Susan's professional bio

Licensed since 1984 and actively selling real estate full time since 1997, I’ve been blessed to be living and selling homes in the Boise area that last 5 years. Prior to Boise, I was actively selling in Idaho Falls. While there, I served on the Board, participated as Women’s Council President locally and as treasurer on the state board. I served on the Board of Directors for Idaho Partners for Homebuyer Education, Inc. and taught the Finally Home class regularly to first time home buyers.

I serve on Professional Standards hearings.

I am an RPAC major investor.

 

Candidate Statement:

” I am passionate about being involved in the protection, advocacy, and professionalism of the real estate industry. I love serving and supporting my fellow REALTORS® in doing our business day to day, in serving and protecting clients in reaching their goals.” – Susan Weaver

 

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** Foundation and IMLS Directors are not voted on by the membership. Foundation applications will be forwarded to the Foundation Board of Directors for selection and appointment, and IMLS applications will be vetted by BRR’s Nominating and Elections Committee, and then appointed by the BRR Board of Directors.

 

 

2018 Mid-Year Housing Summit Recap

Thanks to everyone who attended the 2018 Mid-Year Housing Summit from Boise Regional REALTORS®. If you missed the event, don’t worry! A summary of the discussions and links to the various presentations are available here.

Links and resources referenced at the Mid-Year Housing Summit:

FH ClassInvest in RPACAmm

**Please note: The RPAC investment information on this page is only intended for BRR members.

2017 Boise School District Bond Update

2017 Boise School District Bond Update

Coby Dennis, the Deputy Superintendent of the Boise School District, provided a progress report on the various projects funded by the 2017 school district bond. Boise Regional REALTORS® endorsed and supported this successful campaign last year.


Fair Housing Update

Fair Housing Update

Debbi Myers, certified real estate instructor and BRR Director, discussed the importance of understanding fair housing in our industry and gave a teaser on the upcoming fair housing class that was refreshed in honor of the 50th anniversary of the Fair Housing Act.

Ready to learn more about fair housing? Join us for a Lunch & Learn: That’s Not Fair! How to Avoid Fair Housing Violations, on Tuesday, October 23, from 12:00 p.m. – 2:00 p.m. Register today!


2018 Mid-Year Residential Real Estate Update

2018 Mid-Year Residential Real Estate Update

Breanna Vanstrom, Chief Executive Officer for Boise Regional REALTORS®, dug into the data and identified the trends regarding price, supply, demand, inventory, and strategies for building your business during the 2018 Min-Year Residential Real Estate Update. You can watch her full presentation on Facebook Live below. Thank you to our Facebook Live Sponsor, Idaho Housing and Finance Association.

“Getting to Solutions” Listening Session on Growth

Getting to Solutions

Soren Dorius, Director of Government Affairs for BRR, started the listening session by sharing some key findings from the Second Annual Treasure Valley Survey a survey conducted by BSU to explore public opinion on growth, transportation, and other issues. This project was funded in part by a $15,000 Smart Growth Grant secured by BRR.

The group shared ideas and solutions about how to maintain the quality of life during this time of growth, thoughts on what area would be the next good candidate for higher density projects, what features and places need to be “off limits” to development, the role of transportation, how REALTORS® can participate in public meetings, and much more.

PHOTO GALLERY

Thanks to our event sponsor and annual sponsors for making this event possible!

FB Live sponsor

2018 Annual Sponsor Poster v3 - compressed

 

Save $50 on the ABR® Designation at Boise Regional REALTORS®

ABR 8.22-8.23BRR is offering the Accredited Buyer’s Representation (ABR®) designation course on Wednesday, August 22 and Thursday, August 23. Save $50 when you register for the ABR course and an upcoming ABR or SRS elective!

Upcoming electives:

If you have taken any of the following classes previously offered by BRR, then you’ll save $50 when you register for the ABR course in August!

  • New Home Construction & Buyer Representation in 2017
  • e-PRO® in 2017
  • Pricing Strategies: Mastering the CMA Certification held earlier in 2018
  • Generating Buyer & Seller Leads held earlier in 2018
  • Seller Representative Specialist (SRS) held earlier in 2018

Call 208.376.0363 to register today, or register for the ABR course online!

When registering for the second class (if you haven’t already attended a previously held class), there will be two sets of pricing — the promo price and the full price. Please select the promo price and click “continue” to finish the checkout process.

Have questions? Contact Angela Gibson, BRR’s Director of Membership & Education.

 

June 2018 Market Report

ADA COUNTY HOMES SOLD FASTER,
AND FOR MORE, IN JUNE 2018
 

  • The combination of more new homes selling at higher prices pushed Ada County’s overall median sales price up to $324,647 in June 2018 — another record, but one that was expected as we typically see the highest prices of the year in June or July.
  • Further reflecting the competitive nature of the market, due to lack of inventory, the market time for existing homes fell to just 16 days in June 2018 – the fastest reported based on data going back to 2004 — down 27.3% compared to the same month last year.
  • REALTORS® encourage home buyers to educate themselves on the various offer strategies that will work for them and understand which will not, to avoid going over budget or giving away important protections just “to win” in this fast-moving market.

 The combination of more new homes selling at higher prices pushed Ada County’s overall median sales price up to $324,647 in June 2018 — another record, but one that was expected.

We typically see the highest prices of the year recorded in June or July, and as new homes sales have increased — and are selling at much higher prices than existing homes due to rising construction costs — it’s not surprising that the data is reflecting an even bigger bump this June.

The median sales price for new homes in Ada County reached $393,705 in June 2018, while existing homes landed at a median sales price of $299,900. Both were records for their respective segments.

The overall median sales price (for new and existing home sales combined) has been pulled up much faster than in previous years due to an increase in the number of new home sales and an average difference of $90,000 between new and existing home prices, over the past year.

The persistent lack of existing inventory compared to buyer demand contributed to the increase in the existing median home price (which in turn, impacts the overall median sales price), as well as the historically fast pace of sales.

In June 2018, the market time for existing homes fell to just 16 days – the fastest reported based on data going back to 2004 — and down 27.3% compared to the same month last year.

While just three days faster than last month, those extra days matter to buyers when making decisions and drafting offers in this fast-moving market. But REALTORS® caution buyers to stay objective, despite the faster market times, and especially when facing a multiple offer situation.

There are a lot of articles with tips to make your offer more attractive – higher purchase price, fewer contingencies, delayed move-in dates, and so on – but your REALTOR® can help you determine which are best for you and which are not. Be sure you understand everything you’re including so you don’t go over budget or give away important protections “just to win.”

Home buyers should discuss these strategies with their REALTOR® and lender well before they are ready to make an offer – maybe even before they look at their first home.

What will it take for market times and price increases to level out? More inventory. As long as buyer demand remains strong, homes will continue to go under contract quickly. It’s essential that homebuyers work with a REALTOR® to find a home that fits their needs, lifestyle, and most importantly, their budget, while navigating this fast-moving market.


GEM COUNTY HOME PRICES UP IN JUNE 2018

In June 2018, 22 homes sold in Gem County, leaving 73 new and existing homes available for sale at the end of the month — down 6.4% from the same month last year, but up 25.9% from May 2018.

The median sales price for existing homes in Gem County was $193,500 as of June 2018, based on activity over the past 12 months — an increase of 14.6% over the same period last year. For new homes, the median sales price was $211,349 as of June, also based on activity over the past 12 months. This was up 5.4% over the same period in the previous year.

Specifically, in the city of Emmett, closings were down 44.7% year-over-year, as 21 homes sold in June 2018 compared to 38 in June 2017, for existing and new construction combined. Based on activity in both segments over the past 12 months, the median sales price for Emmett was at $185,806 in June 2018, a gain of 6.0% over the same period last year.

Due to the smaller number of homes listed and sold in Gem County — compared to Ada or Canyon County, for example — we look at a longer timeframe to identify trends in home prices, specifically a rolling 12-month median. This helps to smooth out variations in price that may show up in monthly comparisons if there is a very high- or low-priced sale one month and not the next. While this is helpful to understand macro market trends, a consumer who is thinking about buying or selling a home should speak to a REALTOR® to understand the micro trends specific to their specific situation.


RESOURCES:

Additional information about trends within the Boise Region, by price point, by existing and new construction, and by neighborhood, are now available here: Ada CountyCanyon CountyGem County, and City Data Market Reports. Each include an explanation of the metrics and notes on data sources and methodology.

Download the latest (print quality) market snapshot graphics for Ada CountyAda County Existing/ResaleAda County New ConstructionCanyon County Existing/Resale, Canyon CountyCanyon County New Construction, and Gem County.

# # #

This report is provided by Boise Regional REALTORS® (BRR), a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

If you have questions about this report, please contact Cassie Zimmerman, Director of Communications for Boise Regional REALTORS®. If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

The data reported is based primarily on the public statistics provided by the IMLS, available at intermountainmls.com. These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS and BRR provide these statistics for purposes of general market analysis but make no representations as to past or future performance. The term “single-family homes” includes detached single-family homes with or without acreage, as classified in the IMLS. These numbers do not include activity for mobile homes, condominiums, townhomes, land, commercial, or multi-family properties (like apartment buildings).