New Market Reports Show Strong Start for Housing in 2016

Boise Regional REALTORS® (BRR) is kicking off the year with new market reports that provide a more detailed view of the region’s housing market. Starting with January 2016 data, we will dig deeper into trends happening within price points, between existing homes and new construction, and highlight sales and price trends by city, while continuing to report county-level trends.

The new reports for Ada County and for Canyon County are now available here.

Carey Farmer, President of Boise Regional REALTORS® and Associate Broker at Group One Real Estate: “This new level of detail helps consumers understand the trends behind the trends, while also giving our REALTOR® members another tool to explain these market variations to their buyers and sellers.”

For example, looking at the Months Supply of Inventory metric for homes priced between $200,000-$249,999, as of January 2016, the demand for existing homes in Ada County far outpaced the supply, putting sellers in a great position to list. That said, buyers have a variety of options to choose from in new construction both in Ada and Canyon Counties.

“2016 started off much stronger compared to last year, both in price and the number of sales in most segments,” said Farmer. “I’ve encouraged many homeowners who are thinking of waiting until spring to list their homes, to talk to a REALTOR® now. As the January 2016 market report shows, there are huge opportunities for sellers in nearly every price point in Ada County, and especially for homes priced under $300,000 in Canyon County.”

Key metrics show increases in closed sales, pending sales, and median sales compared to a year ago for all single-family homes with all price points combined:

Ada County

Canyon County

Jan 2016

% Chg Jan 2016

% Chg

Closed Sales

459

7.7% 225

11.9%

Median Sales Price

$237,638

5.9% $146,000

15.0%

Days on Market

67

-4.3% 58

-22.7%

Pending Sales

1,109

27.9% 439

9.7%

Inventory

1,695

-11.5% 795

-23.2%

Months Supply of Inventory

2.7

-27.0% 3.1

-34.0%

 

Additional information about trends within each county, by price point, by existing and new construction, and by city, are now available at boirealtors.com/category/market-info. And download the monthly snapshot graphics for Ada County and Canyon County.

# # #

This report is provided by the Ada County Association of REALTORS® (ACAR), which began doing business as Boise Regional REALTORS® (BRR) in 2016. BRR is the largest local REALTOR® association in Idaho, with over 3,600 members and two wholly-owned subsidiaries — the Intermountain Multiple Listing Service, Inc. (IMLS) and the REALTORS® Community Foundation. This report is based primarily on the public statistics provided by the IMLS, available at: intermountainmls.com/Statistics/Static.aspx. 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 makes no representations as to the past or future appreciation or depreciation of property values. The term “single-family homes” includes detached single-family homes with or without acreage, as classified in the IMLS. These numbers do not include activity for condominiums, townhomes, land, commercial, or multi-family properties (like apartment buildings). If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.

 

Distributed to the media on February 12, 2016.

Speak Your Mind

*