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April
16

April 16th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • The last time we experienced a >$30k leap in MOM sales price was from Mar to Apr 2023 at $32,500. Feb to Mar 2024 jumped by $33,000.
  • Resale's $56k hike marks the greatest MOM jump in Ada County's history.

HOMES SOLD —

  • Sales in Mar 2024 bumped up by more than 100 closedcontracts compared to the previous month.
  • This month's sales were comparable to Apr and Oct 2023.

PENDING SALES —

  • Pending sales spiked to the highest frequency we've seen since Aug 2022.
  • Resale market heat for Mar 2024 nearly climbed to summertime (478 signed contracts in Jul 2023) temperatures.

INVENTORY —

  • Options rebounded to pre-winter counts, surpassing the selection that was available in Mar 2023.
  • While inventory dwindled compared to Feb 2024, consumer consumption of new builds eased slightly.

DAYS ON MARKET —

  • Existing homes went undercontract 8 days quicker than the month prior while new construction speeds eased by 14 days. There were 16 new builds that remained on the market for >200 days in Mar 2024.

A MESSAGE FROM BRR'S PRESIDENT —

"Resale availability continues to struggle the most in keeping up with consumer demands, leaving room for increased home prices. Using a REALTOR® who is specialized in buyer negotiations can make the difference in a client's success in today's market."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • Canyon's $4k bump insingle-family home sales price compared to Feb 2024 was significantly less dramatic than Ada's $30k jump.
  • Resale homes rose the most at approx. $17k compared to Feb 2024.

HOMES SOLD —

  • Historically slimmer pending sales in previous months led to Mar 2024's thinned YOY comparison.
  • With that said, Mar marked the third consecutive month of double-digit positive MOM increases.

PENDING SALES —

  • Mar 2024's new contract signings were similar in quantity to those in Jun 2023, showing a warming of the market.
  • This marked the fourth consecutive YOY increase in new build pending sales.

INVENTORY —

  • After an 8-month streak of either negative or single-digit increases in inventory, Canyon's new options came with a warm welcome in Mar.
  • New construction still hovers below last winter's available inventory.

DAYS ON MARKET —

  • In Mar 2024, existing homes sold 4 days faster than Feb 2024 but revved 23 days quicker than Mar 2023.
  • New builds are "leaving the shelf" 40 days faster than Mar 2023, contributing to low inventory.

A MESSAGE FROM BRR'S PRESIDENT —

"The slow squeeze of inventory versus demand caused a slight increase in March's Median Sales Price. As we move into Spring, we hope to see new listings pop up to help balance the market for both buyers and sellers."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

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

Categories: News
March
18

March 18th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

MEDIAN SALES PRICE —

  • In Feb 2024, single-family homes sold for nearly $10k more than Jan 2024 and almost $30k compared to Feb 2023. 
  • New construction leaped by approx. $25k compared to last month and Feb 2023.

HOMES SOLD —

  • Sales are still in a slumber compared to 2023 but experienced double-digit MOM boosts across the board since Jan 2024. 
  • Of the 527 sales, 44 of them sold for over $1 million.

PENDING SALES —

  • Feb 2024 was the first time pending sales have crested over 1,000 signed contracts since May 2023.
  • New construction hasn't seen this much market heat in pending sales since Aug D 2022.

INVENTORY —

  • The spike in inventory has us drooling. While we saw an uptick in MSP (likely due to overall market warmth), the increased options give buyers variety in the market. We're still in a seller's market but there's room for negotiation.

DAYS ON MARKET —

  • While it may be expected for higher-priced homes to sit on D the market longer, the 44 homes sold for more than $1 million stayed only slightly longer than the overall average (51 days compared to 49 days).

A MESSAGE FROM BRR'S PRESIDENT —

"Shorter Days on Market can increase seller confidence in the market, knowing their listing won't lag longer than necessary. The statistics are showing signs of a strong Spring market for both buyers and sellers."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —
  • As inventory slipped away quicker and the average mortgage rate hovered below the 7% we saw in late Fall 2023, a resulting hunger likely caused this month's $10k bump in single-family home MSPs.

HOMES SOLD —

  • Affordability within and outside the housing market remains a pain point for many buyers, holding some back from pulling the trigger on a home. We can see here that the MSP bumped up while sales cooled.

PENDING SALES —

  • Resale activity revved compared to the previous 5 months, trending similarly to Aug 2023.
  • New construction has fluctuated minimally since Aug 2023, staying between 467-494 contracts.

INVENTORY —

  • Feb 2024 marked the first YOY uptick in inventory since Apr 2023.
  • Resale carried the weight in inventory rebound, adding 30 homes to the pile while new construction options decreased by 14 homes.

DAYS ON MARKET —

  • The market has cut its wait times nearly in half compared to early Spring 2023. 
  • Days on Market have consistently shortened (compared to the previous year's data) since Aug 2023.

A MESSAGE FROM BRR'S PRESIDENT —

"Canyon County's market is showing signs that it is officially on the rebound. Both median prices and inventory are up, alluding to a strong Spring market for sellers and more selection for buyers."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

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

Categories: News
February
19

February 19th, 2024 by


From Our Friends At Boise Regional REALTORS®

ADA COUNTY

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

CANYON COUNTY

MEDIAN SALES PRICE —
  • The single-family home MSP dipped below the $400k threshold for the second time in the past 9 months.
  • Three homes sold under $200k in Jan while the lowest sold price in Dec was $240k, resulting in a MOM slip.

HOMES SOLD —

  • Home sales have trended below the 300-home mark since Oct 2023 but edged closer in Jan at 293 sales.
  • Resale and new builds shared a mostly equal boost at 22 (resale) and 19 (new) homes.

PENDING SALES —

  • Dec's bump in contracts helped feed Jan's closed sales but new contracts have since cooled.
  • New construction saw the only uptick in new signings.

INVENTORY —

  • Jan's overall inventory in Canyon County dwindled to the smallest selection we've seen since May 2023. ▪
  • Existing/resale options are the most limited they've been since Apr 2022.

DAYS ON MARKET —

  • In addition to the increase in number of sales in Jan, the speed in which they went under contract also heated for all sectors.
  • New construction's market times were nearly cut in half compared to Jan 2023.

A MESSAGE FROM BRR'S PRESIDENT —

"Canyon County's market warmed this month, particularly pinching availability and affordability for resale homes. Having a REALTOR® on your side will help consumers navigate competitive markets."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

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

Categories: News
February
5

February 5th, 2024 by

We're thrilled to unveil our 2023 charitable giving video! Click here to watch.

At Coldwell Banker Tomlinson, our mission to lead people home goes beyond real estate transactions. It's about making a positive impact in the communities we proudly serve.

In 2023, our agents and staff proudly contributed $386,600 and dedicated 2,300 volunteer hours to communities across Washington and Idaho. This brings our total charitable contributions to over $1.25 million since 2020.

We're honored to serve vibrant real estate markets like Spokane, Boise, Meridian, Idaho Falls, and the Quad Cities (including Pullman, Lewiston & Clarkston, and Moscow). These are more than just places...

Click Here to Read More...

Categories: News
Tags: Coldwell Banker Tomlinson
February
1

February 1st, 2024 by

 

It's that time of year again — the time where you choose a slew of financial resolutions, keep them up for a few weeks … and inevitably drop them before March. Rinse and repeat.

If you're ready to break the Resolution Cycle of Doom, you should know one key strategy for sticking to resolutions: Pick the easiest, least glamorous goals first. Then you can use that momentum to tackle bigger ones down the line.

Of course, that's easier said than done. Use these simple (and impactful) resolutions to get started, and you'll hit your money milestones before you know it!

 

  1. Review Your Finances

The beginning of the year is ideal for taking...

Click Here to Read More...

Categories: News
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