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 —
- In February 2024, single-family homes sold for nearly $10,000 more than January 2024 and almost $30,000 compared to February 2023.
- New construction leaped by approximately $25,000 compared to last month and February 2023.
HOMES SOLD —
- Sales are still in a slumber compared to 2023 but experienced double-digit Month-Over-Month boosts across the board since January 2024.
- Of the 527 sales, 44 of them sold for over $1 million.
PENDING SALES —
- February 2024 was the first time pending sales have crested over 1,000 signed contracts since May 2023.
- New construction hasn’t seen this much market heat in pending sales since August 2022.
INVENTORY —
- The spike in inventory has us drooling. While we saw an uptick in Median Sales Price (likely due to overall market warmth), the increased options give buyers variety in the market. We’re still in a seller’s market but there’s room for negotiation.
DAYS ON MARKET —
- While it may be expected for higher-priced homes to sit on the market longer, the 44 homes sold for more than $1 million stayed only slightly longer than the overall average (51 days compared to 49 days).
A MESSAGE FROM BRR’S PRESIDENT —
- “Shorter Days on Market can increase seller confidence in the market, knowing their listing won’t lag longer than necessary. The statistics are showing signs of a strong Spring market for both buyers and sellers.” ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
Other Real Estate News
- NAR | National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers
- KTXS (Washington) | More Listings are Hitting the Housing Market but Relief from High Prices Isn’t Following
- Fortune | The Housing Market’s Pivotal Spring Selling Season is More Like a Shopping Window: A Trickle of New Listings Collides with Sky-High Prices and Mortgage Rates
- Redfin | Housing Market Update: Listings Surge, Luring Some Buyers off the Fence, But Near-Record Housing Costs Price Others Out
- USA Today | California is Home to the Most Expensive Housing Markets in the US: See a Nationwide Breakdown
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.
