Notes on Data Sources and Methodology

 

Year-over-year percent changes may look extreme due to small sample sizes. These reports are provided by the Ada County Association of REALTORS®, which began doing business as Boise Regional REALTORS® (BRR) in 2016. BRR is the largest local REALTOR® association in Idaho, with over 4,000 members and two wholly-owned subsidiaries — the Intermountain Multiple Listing Service, Inc. (IMLS) and the Boise Regional REALTORS® Foundation. These reports are based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com/Statistics/Static.aspx. 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). If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

Explanation of Metrics

Closed Sales — A count of the actual sales that have closed; Median Sales Price — The price at which half the homes sold for more, and half sold for less; Days on Market — Average, cumulative number of days between when a property is listed and when it goes pending; Pending Sales — A count of the homes that were under contract, and should close within 30-90 days; Inventory — A count of the homes for sale on the 11th day of a given month following the one reported; Months Supply of Inventory — Takes the number of homes for sale divided by the average number of closed sales by month for the preceding twelve months. A balanced market—not favoring buyers or sellers—is typically between 4-6 months of supply. || Copyright © 2017 Boise Regional REALTORS®

The Boise region residential housing market is an important indicator of the region’s economic health. Other factors worth considering when analyzing the overall market: