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 —
- With pending contracts up and inventory down month-over-month for resale homes, affordability took a $10,000 hit in September.
- Of the 716 homes sold in September, 55 of them were sold for more than $1 million with an average Days on Market of 34.9 days.
HOMES SOLD —
- The oldest home sold in September was a 3,873 sq. ft. home built in 1900 and was pending in under 10 days.
- New construction was September’s shining star for closings, surpassing September 2023 by 90 closed sales.
PENDING SALES —
- Pending contracts are the best way to tell what the current market is doing while sold data reflects how the past 60-90 days performed.
- September showed warmth for the current market with month-over-month increases in all sectors.
INVENTORY —
- Inventory shrank across the board in September.
- With less options and an increase in pending activity, it is no wonder that we saw a month-over-month boost in resale’s Median Sales Price.
DAYS ON MARKET —
- Market demand had no impact on speeds, however. Lengthened Days on Market created the right circumstance for Ada’s Months’ Supply of Inventory to keep steady in September.
A MESSAGE FROM BRR’S PRESIDENT —
- “The market remains vibrant, highlighted by new construction outperforming last year. With 716 homes sold, including 55 over $1 million, it’s clear that demand continues to drive prices, despite an increase in Days on Market.” ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
Other Real Estate News
- USA Today | Inflation is Trending Down. Try Telling That to the Housing Market
- Yahoo! Finance | The Commercial Real Estate Market is in a ‘Normalization Period’
- REALTOR.com | Mortgage Rates Just Made ‘Biggest Leap in the Past 6 Months’: Our Economist Breaks Down What It Means for the Housing Market
- US News & World Report | Will Fall Bring Relief to 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.
