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 —
- New construction led the charge in many ways this month, including in month-over-month changes for Median Sales Price (MSP) — up $34,600 compared to last month.
- Resale’s MSP took a break after last month’s increases.
HOMES SOLD —
- In stark contrast to last month’s 21.1% month-over-month drop, new construction is up 9.8% compared to September 2023.
- We may see another boost next month to homes sold for new builds, reflective of pending activity.
PENDING SALES —
- While inventory grew, so did pending contracts for new construction (first month-over-month gain since Jun 2023).
- Existing/resale saw its slimmest year-over-year slip since February 2022, averaging at -22.9%.
INVENTORY —
- Single-family inventory dipped, month-over-month, for the first time since February 2023.
- New construction options continued to grow, month-over-month.
DAYS ON MARKET —
- Existing home’s Days on Market remained steady this month while new construction rebounded to a similar pace we saw in May to July this year.
A MESSAGE FROM BRR’S PRESIDENT —
- “As reported by Forbes, interest rates — currently sitting at an average of 7.79% — continue to pinch affordability. Resale’s headway in median sales price is a breath of fresh air to the real estate market.” – Debbi Myers, Boise Regional REALTORS® 2023 President
Other Real Estate News
- Living in the Suburbs vs. the City: Which is Best?
- As Treasury Yields Decline, Mortgage Rates Move Down
- Bringing the Real Estate Transaction to the End Zone
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.
