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 —
- Pickings remained slimmer this month, resulting in higher sales prices compared to last year, but the median sales price still eased from October 2023.
- Higher mortgage rates in early November may have catalyzed lower prices for the month.
HOMES SOLD —
- This year’s seasonal slow-down from October to November was less abrupt than 2022 where we saw a steeper bog.
- For example, new homes saw 11 less sales since last month; there were 45 fewer closings from October 2022 to November 2022.
PENDING SALES —
- For the first time in 31 months, pending contracts experienced its first summit over the previous year.
- Paired with shrinking gaps in year-over-year data for sales, market hunger is keeping warm.
INVENTORY —
- Existing/resale saw the greatest shrink in options, slipping from 825 available properties to 656.
DAYS ON MARKET —
- In November, the homes that sold for less than $500,000 spent an average of 13 fewer days on market than those that sold for more.
A MESSAGE FROM BRR’S PRESIDENT —
- “We are interested to see how the market responds to mortgage rates dropping nearly 0.75% since early November and what affect that may have on sales prices and Days on Market next month.” – Debbi Myers, Boise Regional REALTORS® 2023 President
Other Real Estate News
- The Fed Continues to Keep Rates Steady
- Connecting the Dots Between Buyers and Sellers
- FHFA Announces Conforming Loan Limit Values for 2024
- Amid Rising Housing Costs, Prospective Homebuyers are Looking to Relocate: Redfin
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.
