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 —
- Jan was the lowest single-family home MSP we’ve seen since Mar 2023.
- Resale saw a minor increase of $500 while new construction faced a $15k reduction in sold price compared to Dec 2023.
HOMES SOLD —
- There was a greater balance between resale and new build sales in Jan with a 93 home gap (compared to Dec’s 112 home gap).
- Resale’s +1.8% YOY change was the first positive rebound for sales in 21 months.
PENDING SALES —
- Pending sales leaped to the highest number of new contracts since Jun 2023, an uptick of 132 signings compared to Dec.
- New build pending sales have trended upward three months in a row.
INVENTORY —
- Inventory shrank to its lowest threshold for single-family homes in 20 months with resale home options slimming by nearly 140 listings compared to Jan 2023, down by 70 homes from Dec 2023.
DAYS ON MARKET —
- New construction accelerated from 59 days in Dec 2023 to 56 days in Jan, the only sector with quicker month-over-month speeds.
- With an MSI of 1.0 months, resale may benefit from a reprieve in market heat.
A MESSAGE FROM BRR’S PRESIDENT —
- “Positive year-over-year trends in the median sales price show a shiny outlook on homeownership. Even as some aspects of the market fluctuate, the value of owning a home remains steadfast.” ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
Other Real Estate News
- Redfin: Housing Market Update: Home Prices and Mortgage Rates Rise, Pushing Would-Be Buyers to the Sidelines (2.15.2024)
- CNBC: Mortgage Rates Surge Higher Again, Causing Homebuyers to Pull Back (2.14.2024)
- Redfin: Investors Bought 26% of the Country’s Most Affordable Homes in the Fourth Quarter—the Highest Share on Record (2.14.2024)
- Redfin: Homeowners Today Stay in Their Homes Twice As Long As They Did in 2005, Driven Largely By Older Americans Aging in Place (2.14.2024)
- RealTrends: Amid Rising Housing Costs, Prospective Homebuyers Are Looking to Relocate (Redfin) (11.20.2023)
- RealTrends: Bringing the Real Estate Transaction to the End Zone (11.8.2023)
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.
