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Alexandria Danilovitch
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December
16

December 16th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • The median price of new homes sold in November decreased by $52,000, the lowest MSP for new builds since March 2023. New homes sold continue to be more affordable for buyers than existing homes. 
  • 84% of these new homes were on standard or small lots as compared to 63% of existing homes sold. New homes sold this month had 10% less square footage than existing homes sold.

HOMES SOLD —

  • While the number of homes sold decreased for both new and existing homes, the drop was more significant for existing homes in November.
  • Existing home inventory declined while sales price remained flat, indicating that lower inventory doesn't appear to have increased demand for these homes. 
  • 70% of resale sales were 20+ years old and had an MSP of $515,000 which is more in line with new homes.

PENDING SALES —

  • 58% of pending sales are new homes.
  • The median price of these pending new homes is currently over $100,000 more than the MSP of new construction homes sold in November. 
  • 63% of pending homes that went off the market in November were existing homes (not new builds). This may indicate an increase in the number of existing homes sold in future months once these sales are final.

INVENTORY —

  • The decrease in inventory was seen primarily for resale homes, which appears to align with national market trends. With interest rates remaining high and future cuts anticipated, sellers may be more likely to wait to put a home on the market.
  • Total volume of resale homes sold decreased by 19.3% in November — along with a decrease in inventory — pointing to a cooling market as we head toward winter.

DAYS ON MARKET —

  • Days on market was unchanged for resale homes in November and increased by one day on average for new homes sold. 
  • When looking at the ages of homes sold in November, older resale homes seem to have the lowest average number of Days on Market. The bulk of resale homes sold in November (70%) were older and had sales prices more aligned to new homes sold in November.
"While new home prices have decreased, offering more affordability, inventory remains tight, and the number of homes sold has dropped. With more older homes being sold and fewer listings available, a REALTOR® can help buyers navigate negotiations and find the best opportunities in this shifting market. " ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • The MSP for existing homes increased in November for the first time since June. When comparing resale homes sold in November versus October, the square footage and acreage between the two sets of homes is similar.
  • Resale homes sold in November were more likely to be newer (between 1-5 or 11-20 years old) than home sold in October. The lower age of homes sold in November may be a reason for the increase in the MSP of resale homes.

HOMES SOLD —

  • The number of homes sold in November decreased for both new and resale homes. The inventory of both sectors also decreased in November, along with minimal changes in MSP. This may indicate that buyers are less willing to purchase a home right now.
  • On average, the sales price of a home was $16,000 less than the original list price. This deduction was more significant for resale homes between 11-30 years.

PENDING SALES —

  • The decrease in pending sales was only seen with resale homes. The resale homes that are currently pending have an average days on market that is over a week longer than similar homes sold in November. Prices of these homes has decreased from the original price across all age categories but appears most significant for the resale pending homes. 
  • 65% of all pending sales are new homes.

INVENTORY —

  • This is the third straight month of inventory decline for new homes and the fifth straight month of inventory decline for resale homes, but inventory remains above levels seen in November 2023.
  • Inventory of existing homes is getting closer to levels seen in November 2023. Currently, there are 32 more new homes in inventory than there were in November 2023.

DAYS ON MARKET —

  • The average days on market increased by 5 days for new homes and 7 days for resale homes.
  • The average days on market continues to be pulled up by a few homes that have been on market for over 90 days in November (27% over 90 days; 15% over 120 days).

"November in Canyon County saw a slight increase in resale home prices, but with fewer homes sold and more days on market. Buyers have more negotiating power as prices drop below listings. With declining inventory and pending sales, a REALTOR® is key to navigating this evolving market." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

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

Categories: Boise Life
November
20

November 20th, 2024 by

What's the first thing you think of when you hear the word "loan"? Chances are it isn't the phrase "Home Equity Line of Credit." On one hand, that's more than fair — a HELOC, after all, isn't exactly your run-of-the-mill traditional loan.

… And yet it's arguably one of the most powerful.

In honor of that, we thought we'd share the most popular ways HELOCs are used, plus the best tactics to follow (and worst mistakes to avoid).

But first, what is a HELOC?

Don't worry, a Home Equity Line of Credit isn't as complicated as it sounds. At its core, a HELOC lets you borrow against your hom...

Click Here to Read More...

Categories: Boise Life
November
19

November 19th, 2024 by

As the holiday season approaches, many of us feel inspired to give back to our communities and spread kindness. Boise is home to numerous charities and organizations dedicated to helping those in need, and there are plenty of opportunities for community involvement. Whether you're looking to volunteer, donate, or simply learn more about local causes, here's a guide to Boise-area charities that make a difference year-round and could use your support this season.

by Kristina Case

Idaho Foodbank

About:
The Idaho Foodbank is the largest hunger-relief organization in Idaho, providing millions of meals to families in need. They work with community partners across the state to distribute fo...

Click Here to Read More...

Categories: Boise Life
October
15

October 15th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • With pending contracts up and inventory down MOM for resale, affordability took a $10k hit in Sep.
  • Of the 716 homes sold in Sep, 55 of them were sold for more than $1 million with an average DOM of 34.9 days.

HOMES SOLD —

  • The oldest home sold in Sep was a 3,873 sq. ft. home built in 1900 and was pending in under 10 days.
  • New construction was Sep's shining star for closings, surpassing Sep 2023 by 90 closed sales.

PENDING SALES —

  • Pending contracts are the best way to tell what the current market is doing while sold data reflects how the past 60-90 days performed.
  • Sep showed warmth for the current market with MOM increases in all sectors.

INVENTORY —

  • Townhom Inventory shrank across the board in Sep.
  • With less options and an increase in pending activity, it is no wonder that we saw a MOM boost in resale's MSP.

DAYS ON MARKET —

  • Market demand had no impact on speeds, however. Lengthened DOM created the right circumstance for Ada's MSI to keep steady in Sep.
"The market remains vibrant, highlighted by new construction outperforming last year. With 716 homes sold, including 55 over $1 million, it's clear that demand continues to drive prices, despite an increase in Days on Market." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • New build's MSP argues with other market trend data. With lower sales (pending and closed), we would've expected a similar or lower MSP from the previous month but inventory drops pinched pricing for the month.

HOMES SOLD —

  • While MOM and YOY comparisons don't seem earth-shattering, we've made significant headway in single-family sales counts from late 2023 to early 2024 (as low as 256 units).

PENDING SALES —

  • Canyon's pending and closed sales have been a trend rollercoaster since May 2024.
  • Existing home's pending sales nearly doubled since Sep 2023 (189 signings).

INVENTORY —

  • With a dip in sold units and pending contracts, Sep's new construction inventory slip means there was a slight slowdown in new units coming on the market. This marks the first MOM slide in inventory since Feb 2024.

DAYS ON MARKET —

  • With the combination of inventory and market speeds, Canyon's MSI is the closest it's been to a "balanced" since Nov 2015. Since then, the market has been increasingly starved for supply.

"We're nearing a balanced market for the first time since November 2015, a positive sign for buyers and sellers alike. As power equalizes for both sides of the transaction, it becomes increasingly important to work with a REALTOR® who can help you navigate." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

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

Categories: Boise Life
August
16

August 16th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • The MSP for single-family and resale homes rebounded from Jun 2024. Single-family homes slipped by nearly $25k and resale homes shrank by over $59k from Jun to Jul. 
  • In contrast, new build's MSP rose by nearly $25k.

HOMES SOLD —

  • Closed activity bumped up across the board with resale boosted nearly 70 sales from Jun 2024. M
  • This is the highest number of single-family sales in a month since Jun 2022.

PENDING SALES —

  • We've surpassed Jul 2023 by nearly 200 pending sales for single-family homes. Most of that hunger was appeased by new construction homes.
  • This increased YOY hunger fortunately didn't dry up Jul's inventory reserves.

INVENTORY —

  • Inventory for all single-family homes has been rising for 6 months now, giving buyers a summer treat: options.
  • Jul marked the highest single-family inventory in 20 months.

DAYS ON MARKET —

  • In Jan, the market speeds for both resale and new construction were nearly identical but now new builds are remaining on the market nearly twice as long as existing homes.
"The importance of accurate pricing and stronger marketing is increasing with recent market changes - minor interest rate declined, the flattening of the Median Sales Price, Days on Market fluctuations, and inventory increases. Prep yourself for those trickier conversations with sellers." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • With a spike in closings and shorter market speeds, new construction saw a slight MSP boost in Jul (a contrast to the previous 2 months).
  • Even with the $7k MOM dip, resale's MSP remains above 2023's MSPs.

HOMES SOLD —

  • Both sectors saw 30-60 more homes sold in Jul compared to Jun, a welcome sign that consumers are continuing to buy/sell in the later summer months.

PENDING SALES —

  • New build's incoming contracts took a snooze for the first time since Apr 2024, a surprising contrast to the metrics that would typically point to a rise in market hunger (MSP, DOM, and closed sales).

INVENTORY —

  • This is the third consecutive month with >1,000 available single-family homes, a trend we hadn't seen since early winter 2022.
  • We're nearly double Jul 2023's options.

DAYS ON MARKET —

  • Similar to Ada County, the chasm between resale and new construction's market speeds has stretched since late Summer 2023. The length of time that a home is listed prior to it being fully built can contribute to this.

"Statistically, you are in a seller's market. The data indicates you may be headed toward a 'balanced' market by Fall if the trend continues. This is a great time to get a buyer into a home if they have been waiting." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President

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

Categories: Boise Life
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Alexandria Danilovitch
Alexandria Danilovitch Cell: (208) 841-9890 Email Me
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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 03/04/2026. The listing information on this page last changed on 03/04/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Wed 03/04/2026 12:01:11 AM EST) or INTERMOUNTAIN MLS (last updated Tue 03/03/2026 11:32:31 PM EST). Real estate listings held by brokerage firms other than Coldwell Banker Tomlinson may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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