We’re excited to bring you our newest “Market Stat Sheets.”
Same great data, quicker reads.
Looking for local analysis, like our previous press releases? You’ll find them as smaller, more digestible snippets throughout the Market Stat Sheets. Take a look, wander around, and let us know if you have any questions!
MEDIAN SALES PRICE —
- Resale homes got another breather from Median Sales Price increases and slipped by another $15,000 compared to July 2024. This marks the second month of easing prices from June’s $599,000 Median Sales Price for existing homes.
HOMES SOLD —
- While sales are up from August 2023, we fell a bit shy of July 2024’s closed homes, pointing to the start of a historically slower season (August-February). Weather, school sessions, and holiday seasons can all contribute to sale bogs.
PENDING SALES —
- New contracts are a great way to tell how the current month’s market is doing compared to previous months/years. August had positive change for all sectors, compared to August 2023 and July 2024.
INVENTORY —
- Townhome listings in Ada are at a historical high with 153 available units.
- Inventory for all sectors improved in August, keeping market demand from growing too desperately with August’s rising pending sales.
DAYS ON MARKET —
- Consistent with slower seasonality, stretching market times can be expected.
- Comparing August Days on Market since 2021 show market speeds have been progressively lengthening from 14 days in August 2019 to 39 days in August 2024.
A MESSAGE FROM BRR’S PRESIDENT —
- “August showed a $15,000 dip in Median Sales Prices for resale homes in Ada County, signaling the start of a slower season. While sales are up from last year, rising inventory and longer days on market reflect movement toward a balanced market.” ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
Other Real Estate News
- FOX Business | US Real Estate Market is Looking Towards ‘Happier Times,’ Says Katrina Campins
- RISMedia | New Ways Agents and Lenders Are Collaborating to Earn More Customers
- CBS News | How Homebuyers Can Stick Out in a Crowded Real Estate Market
- Realtor.com | Mortgage Rates Dive to 6.09% as Housing Market Shows ‘Sense of Optimism’
- NPR | Here are 4 Ways the Federal Reserve’s Big Rate Cut Could Change the Housing Market
Please note: Some news outlets may protect their content with paid subscriptions. While we try to refrain from sharing articles that may not be accessible to everyone, we may share them if important to the industry.
Additional information about trends within the Boise Region, by existing and new construction, are now available here: Ada County, Elmore County, Gem County, and Condos, Townhouses, and Mobile/Manufactured Homes Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.
Ada County
Canyon County
Elmore County
Gem County
Condos…
Download the latest (print quality) market snapshot graphics for Ada County, Ada County Existing/Resale, Ada County New Construction, Elmore County, and Gem County. Since Canyon County is not part of BRR’s jurisdiction, we don’t publicly report on Canyon County market trends. Members can access Canyon County snapshots and reports in the Market Report email, or login to our Market Statistics page. Boise and Owyhee County snapshots can also be accessed on our Market Statistics page.
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The data reported is based primarily on the public statistics provided by the Intermountain MLS (IMLS), a subsidiary of Boise Regional REALTORS® (BRR). 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. If you have questions about this report, please contact BRR’s Director of Communications Taylor Gray at 208-947-7238. For notes on data sources, methodology, and explanation of metrics, visit boirealtors.com/notes-on-data-sources-and-methodology.
If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.
Boise Regional REALTORS® (BRR), a 501(c)(6) trade association, represents 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.
“REALTOR®” is a federally registered collective membership mark which identifies a real estate professional who is member of the National Association of REALTORS® (NAR) and subscribes to its strict Code of Ethics.
