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 (MSP) —
- A home built in 2019 sold for $3.7 million in December 2023, positively weighing the year-over-year scales.
- We haven’t seen the MSP dip below $517,000 since December 2022 — a $13K decrease compared to November 2023.
HOMES SOLD —
- Recent slow-downs in pending contracts caught up to sales in December 2023, slipping in all three sectors year-over-year.
PENDING SALES —
- In addition to higher sales, new construction saw the biggest bump in signed contracts in December 2023.
INVENTORY —
- Inventory dwindled across the board this month, leaving Ada County at a deficit for demand which is evident in this month’s Months’ Supply of Inventory (MSI).
- Just three months ago (September), we were at nearly double the current inventory for resale.
DAYS ON MARKET —
- Homes that sold for $200,000-$400,000 sold at an average of 30 days versus 41 days for $1,000,000+ homes.
A MESSAGE FROM BRR’S PRESIDENT —
- “This month’s changes in Median Sales Price have shown the impact that higher-dollar sales can have on the market’s perception. Knowing what is selling and when can help us see a clearer picture of what the market is doing.” – Elizabeth Hume, Boise Regional REALTORS® 2024 President
For our year-end report, we wanted to provide additional visual representations of the market in 2023. Take a look below at the graphs we’ve created, download them for your own use, and let us know if you have any questions.
Different cost brackets bring their own audience with their own pace.
How did each bracket shape up in 2023? Take a look.
Other Real Estate News
- CBS News | Home Sales Slowed to a Crawl in 2023: Here’s Why.
- CNBC | December Home Sales Slump to Close Out Worst Year Since 1995
- HousingWire | More Homeowners Might be Ready to Sell Despite the Lock-In Effect: RedFin
- HousingWire | Existing Home Sales Are Working from a Historic Low Bar
- Realtor.com | Home Sales Sink to a 29-Year Low in 2023
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 price point, by existing and new construction, and by neighborhood, 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.
