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 —
- For the first time since April 2021, the Median Sales Price for resale homes hiked beyond that of new builds.
- Explanation: the average square footage of homes sold for existing also surpassed new builds this month.
HOMES SOLD —
- Single-family and existing home sales saw their first slip since January 2024 while new construction recovered from its slight 8.6% dip in May.
- While monthly shifts may be volatile, long-term trends have remained relatively even.
PENDING SALES —
- Pending contracts are up an even 200 signings compared to June 2023.
- All sectors have experienced double-digit percentage improvements compared to June 2023.
INVENTORY —
- Inventory has made significant strides toward recovering from 2020-2022 shortages.
- Our Months’ Supply of Inventory (MSI) has bounced back to October 2022 levels.
DAYS ON MARKET —
- Aside from a brief bog in May, we’ve seen a speed-up in the market since February, consistent with seasonal shifts.
- Market speeds are similar to those of Summer 2023, Fall 2022, and Winter 2021.
A MESSAGE FROM BRR’S PRESIDENT —
- “It’s very important to keep in mind that overall county data may not be representative of the neighborhood you’re researching for your clients. When sharing data with your clients, use your expertise to highlight those differences.” ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
Other Real Estate News
- CNBC | Here’s Why International Buyers Are Pulling Way Back from the U.S. Housing Market
- Investopedia | What Lies Ahead for the Commercial Real Estate Market for the Rest of 2024?
- Fox Business | Real Estate Rising Star Points to New Direction That Could ‘Disrupt’ Entire Housing Market
- Redfin | Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand
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.
