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March
17

March 17th, 2025 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • There continues to be around a $30K difference in the Median Sales Price of new vs. resale homes, where new homes are priced higher. This gap has been consistent for the last three months despite changing sales volume.
  • When compared to surrounding counties, a higher proportion of resale homes in Ada are older which may be keeping the median sales price relatively constant for the last six months around $525K.

HOMES SOLD —

  • It appears that sales have partially recovered from the seasonal dip in volume observed in January. Currently, sales sit above where they were at this point last year, but these are the lowest numbers since February 2024.
  • The new and existing home sales volume increased in February, but the distribution of ages and sizes of homes remained extremely similar to January which appears to have led to little fluctuation in pricing.

PENDING SALES —

  • In January, a similar level of pending sales volume was observed and appeared to translate to growth in sales volume in February. We will say tuned to see if this raised sales volume trend continues next month.
  • 62% of homes pending sale in February were new homes. Of these new homes, the majority are located in Star or Meridian. A large number of pending new homes are currently under construction.

INVENTORY —

  • Like January, over half of homes in inventory are new homes. 86% of these new homes in inventory are located outside of Boise.
  • Resale home inventory remained at the same level seen in the previous month. 40% of resale homes in inventory are in Boise. These homes are priced above Median Sales Prices for resale homes sold in February and their prices have begun to decline from the original list prices.

DAYS ON MARKET —

  • Differences in average days on market were seen when looking at the location of the home sold. Homes sold in Boise, Garden City, Meridian, and Star were on the market for a shorter amount of time when compared to those sold in Kuna, Nampa, and Eagle.
  • Older resale homes (10+ years old) across Ada seem to have the lowest days on market, the majority have been on the market under 30 days.
"The Ada County market remains stable with minimal adjustments to Median Sales Price, continued market demand, and new inventory. With a healthy 22.5% increase in sales and a rising inventory of new homes, now is a great time to work with a REALTOR® to navigate this market — including builder incentives like interest rate buydowns — and secure the best deal." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • Median Sales Price increased by 2% in February, but increases were seen in Median Sales Price for new and resale homes. This indicates that there was a slight change in the composition of homes sold in February from those sold in January. 
  • Most resale homes sold in February (54%) were in Nampa and priced $20K lower and more likely to have smaller square footage than similar homes sold last month.

HOMES SOLD —

  • The number of homes sold increased by 40% in February, the largest monthly increase observed since June 2020. The increase was seen for both new and resale homes. 
  • Homes sold in February were, on average, younger than those sold in January. These homes tend to be more expensive than older resale homes. 
  • There is far less evidence this month of sales being lowered from the original price.

PENDING SALES —

  • The majority (66%) of pending sales continue to be new homes located in Nampa ands Caldwell. New homes with pending sales that are under construction across Canyon County have notably lower average days on market when compared to other new homes (21 days on average).
  • Most pending homes have a current price below the original list price indicating seller willingness to move prices to attract buyers (except in Star and Middleton).

INVENTORY —

  • Resale homes added to inventory this month are mostly over 20 years old and located outside of Caldwell and Nampa. Despite being on the market under 30 days, they appear to have already reduced in list price.
  • New homes added to inventory this month in Middleton and Nampa have increased their price from their original price. The most affordable new homes appear to be located in Caldwell and have not had price adjustments.

DAYS ON MARKET —

  • 53% of resale homes sold in February were on the market for less than 30 days. Unlike January, price did not appear to be as closely related to the amount of time a home spent on the market before sale. On average, homes that were on the market 10 days or less were priced higher than homes on the market over 10 days.
  • A group of 8 new homes sold this month were on the market over 200 days, affecting new build's average.

"Canyon County experienced a notable 40% increase in home sales this February, driven by rising demand for new homes in Nampa and Caldwell. As competition heats up, partnering with a REALTOR® can help you take advantage of opportunities and avoid the pitfalls of shifting home prices." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

To view the Treasure Valley homes currently for sale, CLICK HERE

Categories: News
January
17

January 17th, 2025 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • Median sales price (MSP) for existing homes dipped slightly while a slight increase was seen for new homes. The MSP for new homes is around $15K higher than existing homes sold in December.
  • The MSP of these homes in December was $10K less than similar aged homes sold in November.
  • New build's MSP rise was driven slightly by 9.7% of new homes sold at or above $1M (up from 7% in November).

HOMES SOLD —

  • The number of existing homes sold in December declined for the second straight month while the number of new homes sold increased. In December, 42% of homes sold were new homes compared to November's 36% divide.
  • These additional newly built, never occupied homes sold in December were located in Meridian with an MSP of $525K and Eagle with an MSP of $898K.

PENDING SALES —

  • 64% of December's pending sales are new homes, indicating a different age composition of homes sold may occur in January 2025. Of these new homes pending sale, 64% are currently under construction and were on the market on average under 15 days. ▪ Pending existing home sales on average have a lower current price than the original listing price. This trend is not true for all new homes that are pending sale.

INVENTORY —

  • Inventory of existing homes continues to decrease at a faster rate than inventory of new homes (28.7% drop compared to 4.5%). Currently, 57% of all homes in inventory are new homes.
  • Only 37% of single-family homes in inventory are priced at or below the MSP seen in December. We will wait to see if these homes experience price reductions or if these homes remain in inventory in January 2025.

DAYS ON MARKET —

  • This metric was pushed up due to a 13-day increase seen with new homes in December. The increase in average Days on Market was pressurized by homes sold that were under construction in December.
  • If two outlier homes are removed from the group (one that was on the market for 291 days and one on the market for 195 days), the average returns to a value similar to previous months.
"As we move into 2025, Ada County's real estate market is stabilizing, with inventory and sales maintaining a healthy pace. New construction remains attractive, possibly due to builder incentives aimed at buyers. With rising interest rates, working with a REALTOR® is key to navigating these changes and making informed decisions for your long-term goals." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • The Median Sales Price (MSP) dipped slightly (1.6%) in December.
  • 58% of homes sold in December were priced between $282-450K. No new builds were priced below $300K.
  • 28% of new homes and 47% of existing homes sold in December were priced under $400K. This indicates that new homes may be less affordable for individuals searching below this price point.

HOMES SOLD —

  • A more significant decrease is sales was seen for existing homes while sales of new homes remained basically flat from November (-0.5%).
  • Buyer appetite for existing homes seems to be for those with lower price points.
  • Inventory for existing homes has declined monthly since July. The lack of availability of these types of homes may be a reason for declining sales numbers.

PENDING SALES —

  • Pending Sales declined for the fourth month in a row.
  • 69% of pending sales are for new homes while only 44% of homes sold in December were new homes. We will watch to see if the composition of homes sold changes in January 2025.
  • Over half of pending new homes are currently under construction and were on the market for under 30 days.

INVENTORY —

  • A healthy inventory of new homes appears to still be present in December and priced very similarly to those that are currently pending.
  • 70% of existing homes in inventory are over 10 years old and mostly priced well above those sold in December. These older homes have been on the market for an average of 85 days.

DAYS ON MARKET —

  • Days on Market for all single-family homes remained at levels similar to November (+1 day).
  • New homes sold in December were on the market longer than existing homes.
  • Existing homes over 50 years old had some of the lowest Days on Market in December. This appears to be driven by the lower prices of these homes, which we know are scarce in current inventory.

"Canyon County continues to experience strong sales, especially in the resale market, but we're seeing signs of a slowdown as both inventory and sales taper off. In this evolving market, having a REALTOR® ensures you're not just keeping pace with changes, but strategically positioning yourself for the best opportunities. " ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

To view the Treasure Valley homes currently for sale, CLICK HERE

Categories: News
November
18

November 18th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • The Median Sales Price increased slightly this month, driven by an 8% increase in the median price of new construction homes.
  • The size and acreage of new homes and resale homes sold in October were nearly identical, yet 95% of new homes had a sales price above $400,000. This means that very few new homes currently being sold are available at price points below $400,000.

HOMES SOLD —

  • In October, the number of new and existing (resale) homes sold increased from last month and is up 44.5% from October 2023, the greatest YOY jump since August 2011. 
  • This is the first MOM increase in resale home sales since July. This may be tied to the 8.4% increase in pending homes for sale that was recorded in September. Many of these pending homes from September may have had their sale finalized in October.

PENDING SALES —

  • Pending Sales decreased in October for the first time since July. This decrease in pending sales was seen more significantly with resale homes than with new homes. 
  • The new homes included currently in pending sales look almost identical to those sold in October in terms of median sales price. 
  • Higher-priced pending homes have been on the market 15 more days than the average home sold in October.

INVENTORY —

  • Inventory decreased slightly for the second month in a row, driven by an almost 10% decrease in resale homes available. Resale and new construction options remain higher than this time last year.
  • The slip in October's overall inventory was driven by a second straight month of decline in resale homes.
  • The resale homes that remain in inventory have been on the market for over two months on average.

DAYS ON MARKET —

  • Single-family homes' Days on Market declined slightly, nudged by a 12%+ dip in Days on Market for new homes.
  • While the Days on Market for new homes is still higher than resale, there was an hike in the number of new homes on the market for under 30 days. In September, 43% of new homes sold were on the market for less than 30 days. In October, nearly half (49%) of new homes sold were on the market less than 30 days.
"The market showed resilience in October, with a slight increase in median sales prices and a rise in both new and resale home sales. While inventory has declined slightly, it remains higher than last year, offering buyers more options. October's trends highlight a balanced and evolving market with opportunities for both buyers and sellers. " ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • Median Sales Price declined slightly in October. This decline in sales price was seen with both new and existing (resale) homes.
  • On average in October, homes sold $31,000 lower than the original list price. This may indicate that buyers feel they have more negotiating power when it comes to final sales price than sellers. This trend was true for both new and resale homes, but stronger for new homes.

HOMES SOLD —

  • The number of homes sold increased for the second straight month in October. While the number of new and resale homes both increased, the percentage increase was higher for new homes from September to October.
  • Many of the new builds sold in October were priced lower than similar ones sold in September, indicating that October's new homes were more flexible with pricing, potentially driving an increase in number of homes sold.

PENDING SALES —

  • Pending Sales declined this month for both new construction and resale homes.
  • The median price of pending homes is almost $100,000 higher than for those closed in October.
  • The sales price of homes in November will indicate if this is a meaningful increase in sales price or if final prices will be negotiated to be lower, making November Median Sales Prices closer to current levels.

INVENTORY —

  • Inventory of new homes and resale homes both declined in October, but remain higher than this time last year. 
  • The inventory slip in October was pressured by a second straight month of decline in resale homes. 
  • The combination of interest rates remaining high and the election in early November may have contributed to sellers holding onto homes in the short term or buyer reluctancy to enter into a mortgage at current rates.

DAYS ON MARKET —

  • Days on Market remained constant in October overall, however, days on market for new homes increased while resale homes decreased.
  • A significant portion of resale homes continue to be sold within the first 30 days. For new homes, over 30% were on the market for over 90 days in October driving that average up.

"October brought a steadying of the local market, with a slight decline in median sales prices and an increase in the number of homes sold, particularly new homes. Buyers are seeing more negotiating power, especially with new homes, while inventory remains higher than last year despite recent declines. This balance creates opportunities for both buyers and sellers to navigate the market with confidence." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

To view the Treasure Valley homes currently for sale, CLICK HERE

Categories: News
September
25

September 25th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • Resale homes got another breather from MSP increases and slipped by another $15k compared to Jul 2024. This marks the second month of easing prices from Jun's $599k MSP for resale.

HOMES SOLD —

  • While sales are up from Aug 2023, we fell a bit shy of Jul 2024's closed homes, pointing to the start of a historically slower season (Aug-Feb). Weather, school sessions, and holiday seasons can all contribute to sale bogs.

PENDING SALES —

  • New contracts are a great way to tell how the current month's market is doing compared to previous months/years. Aug had slight positive change for all sectors, compared to Aug 2023 and Jul 2024.

INVENTORY —

  • Townhome listings in Ada are at a historical high with 153 available units.
  • All sectors improved in Aug, keeping market demand from growing too desperately with Aug's rising pending sales.

DAYS ON MARKET —

  • Consistent with slower seasonality, stretching market t imes can be expected.
  • Comparing Aug DOMs since 2021 show market speeds have been progressively lengthening from 14 days in Aug 2019 to 39 days in 2024.
"August showed a $15,000 dip in Median Sales Prices for resale homes in Ada County, signaling the start of a slower season. While sales are up from last year, rising inventory and longer Days on Market reflect movement toward a balanced market." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • With a reprieve from demand (in sold homes) and current inventory, the overall market was able to approach the more affordable MSP we saw in Feb 2024.
  • Resale retreated by nearly $20k compared to Jul 2024.

HOMES SOLD —

  • Sales for Aug stuttered compared to Jul 2024, dipping by nearly 80 units.
  • New build's YOY boost in sales beat expectations per the previous months' pending contracts.

PENDING SALES —

  • While the price and frequency of sold homes dipped YOY and MOM for resale, newly signed contracts hiked by nearly 20 units compared to Jul 2024.

INVENTORY —

  • Inventory has been on the rise in Canyon County since Jan 2024, amounting to over 1k units for the past 4 months.
  • In 5 years, only 1 other Aug (2020) showed new build inventory above resale.

DAYS ON MARKET —

  • While the distance between resale and new build market speeds remains far, the MSI isn't. Resale's current MSI is 2.8 months while new builds are only averaging 3.2 months, speaking to the steady hunger for both.

"Although sales have slowed, new build pending contracts have continued to filter in and inventory remains robust. This balance highlights ongoing demand in both resale and new construction sectors." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

To view the Treasure Valley homes currently for sale, CLICK HERE

Categories: News
September
9

September 9th, 2024 by

Athena Snow

Following the immense success of the brand's Thursday night gridiron advertising campaign in 2023, Coldwell Banker is returning with a new approach for 2024 that centers around city love

Coldwell Banker Real Estate LLC, announces the continuation of its award-winning "Dream" ad campaign on Thursday evenings on a streaming service during the 2024 football season, inspiring millions of fans nationwide to envision their future in the cities they've always dreamed of calling home.

The new 30-second spots airing this year feature head-to-head matchups of beloved cities – like Dallas v. NYC, DC v. Philly and San Francisco v. Seattle, to name a few – asking the question, "When you're looking for your next place to live, how do you find the perfect place for you?" Focused on the qualities that make each place unique, the ads encourage viewers to utilize the Coldwell Banker Move Meter tool to compare key selling points between cities, such as cost and quality of living. Helping buyers and sellers make informed decisions with ease, the Move Meter tool is rated the #1 most useful tool in real estate.

Data from the Move Meter shows exactly where Americans are looking to move – between January and August of 2024, the top "Move to" city search was Charlotte, NC, followed by Austin, TX, and New York and Tampa, FL (tied for third).

Coldwell Banker Real Estate holds the honor of having the #1 real estate ad for 12 years in a row by ACE Metrix. Last year, the brand was the second most effective advertiser during this Thursday night gridiron tentpole event out of more than 150 advertisers, demonstrating the impactful connection made with this broad audience.

Also airing as a pre-game integration during the season is the Move Meter Match-Up, a video and social media series comparing cities of the football team matchups each week in real estate terms. The campaign extension further encourages viewers to utilize the brand's exclusive Move Meter tool on coldwellbanker.com and Coldwell Banker agent websites.

Alongside the ad is a continuation of the localized asset campaign to deepen branding efforts across the network and amplify consumer reach. Local affiliate offices across the vast Coldwell Banker network now have over 100 pieces of customizable marketing materials to craft personalized versions of brand video, social assets and print integration. With nearly 4,000 localized Move Meter Matchup videos created via the brand's exclusive Custom Video Platform last year, the campaign extension successfully allowed broker-owners to connect with their communities and guide consumers to their dream homes.

 "After solidifying this streaming tentpole event as a powerful initiative for the brand with the Dream campaign, I am thrilled Coldwell Banker is returning this season to continue to inspire Americans to pursue their dream homes. Our unparalleled approach to real estate advertising, blending innovation with beautiful design, has proven to make waves both in and outside of the industry. Reaching over 8 million viewers per game, the Coldwell Banker brand continues to resonate with consumers in an innovative, bold way that drives the industry forward."

-Brandon Newman, Vice President of Marketing

Categories: News
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