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 —
- The Median Sales Price for single-family and resale homes rebounded from June 2024. Single-family homes slipped by nearly $25,000 and resale homes shrank by over $59,000 from June to July.
- In contrast, new build’s Median Sales Price rose by nearly $25,000.
HOMES SOLD —
- Closed activity bumped up across the board with resale boosted nearly 70 sales from June 2024.
- This is the highest number of single-family sales in a month since June 2022.
PENDING SALES —
- We’ve surpassed July 2023 by nearly 200 pending sales for single-family homes. Most of that hunger was appeased by new construction homes.
- This increased year-over-year hunger fortunately didn’t dry up July’s inventory reserves.
INVENTORY —
- Inventory for all single-family homes has been rising for 6 months now, giving buyers a summer treat: options.
- July marked the highest single-family inventory in 20 months.
DAYS ON MARKET —
- In January, the market speeds for both resale and new construction were nearly identical but now new builds are remaining on the market nearly twice as long as existing homes.
A MESSAGE FROM BRR’S PRESIDENT —
- “The importance of accurate pricing and stronger marketing is increasing with recent market changes — minor interest rate declined, the flattening of the Median Sales Price, Days on Market fluctuations, and inventory increases. Prep yourself for those trickier conversations with sellers.” ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
Other Real Estate News
- CBS News | This Midwestern City Has the Hottest Real Estate Market in U.S.
- Business Insider | Looking to Buy a Home? Redfin’s Research Lead Says New Housing Supply is Set to Hit the Market by the End of 2025 as Locked-in Homeowners Finally Start Selling
- Yahoo! Finance | 10 Housing Markets Buyers are Flocking to as Rates Drop
- Forbes Advisor | Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again?
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.
