ADA COUNTY REAL ESTATE HIGHLIGHT REEL

MEDIAN SALES PRICE —

• The Median Sales Price for all sectors is up nearly $18,000 from the previous year but down by $5,000 month-over-month.
• Resale’s Median Sales Price remains a hefty $30,000 more than May 2023.
• May’s new build Median Sales Price was the 3rd highest we’ve seen since November 2022.

HOMES SOLD —

• May showed the highest units sold since June 2022 for single-family homes. At that time, the Median Sales Price was $592,090 and mortgage rate was 5.09%.
• There were only 2 instances in the past 20 months that closed homes crested over 500 — May and June 2023.

PENDING SALES —

• While inventory boosted, pending sales for existing homes napped this month, snoozing by nearly 100 pending contracts.
• Pending sales gained 20 contracts from the previous month and 170 contracts year-over-year.

INVENTORY —

• Ada County had the most available units for all sectors in 18 months in May.
• Existing homes carried the weight of inventory increases this month, rising by over 250 homes month-over-month (highest resale inventory since October 2022).

DAYS ON MARKET —

• Gone are the 40-50 Day on Market trends we saw from December to February for existing homes. May’s Days on Market stayed in the 20’s.
• While new build inventory lagged, the 70+ Day on Market has helped keep the market from being drastically imbalanced.

ADA COUNTY REAL ESTATE HIGHLIGHT REEL

MEDIAN SALES PRICE (MSP) —

• A home built in 2019 sold for $3.7 million in December 2023, positively weighing the year-over-year scales.
• We haven’t seen the MSP dip below $517,000 since December 2022 — a $13K decrease compared to November 2023.

HOMES SOLD —

• Recent slow-downs in pending contracts caught up to sales in December 2023, slipping in all three sectors year-over-year.

PENDING SALES —

• In addition to higher sales, new construction saw the biggest bump in signed contracts in December 2023.

INVENTORY —

• Inventory dwindled across the board this month, leaving Ada County at a deficit for demand which is evident in this month’s Months’ Supply of Inventory (MSI).
• Just three months ago (September), we were at nearly double the current inventory for resale.

The data reported is based primarily on the public statistics provided by the Intermountain MLS (IMLS), a subsidiary of Boise Regional REALTORS® (BRR). Additional Market Snapshots: Canyon County, Elmore Country, Gem County.

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The fantastic geographic location of land and real estate in this area!

Contact Ava or Cristina. Their over 70 combined years as  residents of the Valley will help you decide to stay & buy your home in this beautiful metropolis full of “Treasure”. You won’t regret it.

Other Boise Idaho Real Estate Blog Posts of Interest:

• Boise Realtor Market Report June 2021
• From 2019 – Idaho Listed With Top 10 Tax-Friendly States
• From 2019 – Boise Ranked 2nd Best Capital City
• From 2019 – Boise News – Curbed Article Boise is Booming

?  Speculator; wants to maximize profit in the shortest time possible

?  Long term real estate investor; wants income

?  ” I will get a loan soon” investor always contemplating and debating and never gaining

Don’t shove yourself off to the sidelines, Ava & Cristina will help you find a great property that will start you on the right path.

Don’t delay, call today!

Surprising Boise Real Estate Myths

✓ for a fast sale you need popular features
✓ updating is a must before listing my house for sale
✓ for sale by owners in Boise are making more money
✓ a dated home will not sell
✓ every house must be staged to sell

Are you thinking these thoughts above?  Contact Ava or Cristina for an informative discussion on these and more Boise Real Estate Myths.

Mistake;

Thinking that any agent is ok to work with/ hire.
Wrong!

Surveys and feedback show that
#1 in importance are Life Long resident agents with decades of experience. They are trusted more fully and know areas/locations, construction/contractors better than most anyone.
Don’t you agree? Location & quality makes the sale!

So stop wasting
your valuable time
& $money$
& contact your life long resident agent of the Treasure Valley
with 38+ years experience and the largest network of service providers especially for you.

Ava Tong, BA, CSP, HRC
Life long Boise/Treasure Valley resident with over 38 years experience
Gold Key Real Estate
Boise, ID. 208-440-5810
avatong@msn.com
For all your real estate
www.findyourhomeinboise.com

Boise Realtor, Ava Tong, has 38 years as a licensed real estate professional selling residential homes, land, investments, development and new construction.

A Little Mistake in the Treasure Valley, Idaho (Boise and greater metro areas) That Can Cost You Thousands

That Little Mistake;

Not so little…

It is a big deal to hire just the right agent to represent you in the sale or purchase of your house.

Don’t be fooled by;

* The out of reach, confused poorly communicating Real Estate Teams
* Newly licensed inexperienced agents
* New to the area agents

Teams are the latest fad,
BUT you should be able to talk to your full fledged personal professional agent, not an assistant or inexperienced team agent.

Anyone can take the real estate courses, take the test,
BUT where is the experience so necessary in such a volatile market?

Boise is growing and with it come folks looking for jobs,
BUT new to the area folks that get a real estate license know very little about neighborhoods, growth, trends and inside information pertinent to selling and buying.

When that time comes and you have that little thought of selling or buying pop into your head, contact Ava, life long resident of Treasure Valley or Cristina, your 58 years experienced professional agents.

✓Talk to us, we know the business and want to get to know you. Let’s build a relationship of trust, confidence and success in selling and/or buying your next house.

✓Rely on us for professionalism, the best results possible in your sale and/or purchase and some of the best networking in the business!

 

Why Work With a Professional Realtor?

Boise Idaho Realtor – Ava Tong, Gold Key Real Estate
FindYourHomeInBoise.com

Realtors are professional members of the National Association of REALTORS®, they are not just agents. Realtors subscribe to a strict code of ethics. Home buyers appreciate the expertise provided by a knowledgeable Realtor, and clearly see the following benefits when working with a qualified Realtor:

1. An expert guide.
   Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.
2. Objective information and opinions.
   REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need.
3. Property marketing power.
   Property doesn’t sell due to advertising alone. A large share of real estate sales comes as the result of a practitioner’s contacts with previous clients, friends, and family. When a property is marketed by a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
4. Negotiation knowledge.
   There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows you the flexibility you need to take that next step.
5. Up-to-date experience.
   Most people sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.
6. Your rock during emotional moments.
   A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.
7. Ethical treatment.
   Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters.

Large Network of Tried, Tested and True Real Estate Service in Boise Idaho Real Estate Market

Boise, Idaho Professional Realtor Ava Tong is ready to put her expertise and knowledge to work for you. When you are ready to buy a home in the Treasure Valley, get in touch with Ava.

Why are we the best agents in the Boise area? Get the answer.

---

Contact Boise Realtor, Ava Tong, to find your Boise, Idaho home.

Website:   FindYourHomeinBoise.com
Facebook: facebook.com/FindYourHomeinBoise
Twitter:    twitter.com/FindHomeinBoise

 

The Benefits of Home Ownership

Boise Idaho Realtor – Ava Tong, Gold Key Real Estate
FindYourHomeInBoise.com

 

1. Tax benefits.
   The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
2. Appreciation.
   Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®.  The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
3. Equity.
   Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings.
   Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability.
   Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
6. Freedom.
   The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
7. Stability.
   Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

Contact Boise Realtor, Ava Tong, to find your Boise, Idaho home.

Website:   FindYourHomeinBoise.com
Facebook: facebook.com/FindYourHomeinBoise
Twitter:    twitter.com/FindHomeinBoise

Forbes Contributor William P. Barrett lists Boise, Idaho among the top 25 best places to retire in 2014.  Barrett states “Retirement is one of those chances in life to do something really different. With kids usually out of the house, many people look at it as an opportunity to move to a place that better fits their likings and budget—somewhere affordable that’s warmer (or colder), more rural (or urban), with good medical care and options for an active life, including perhaps a part-time job.”

The Best Places To Retire In 2014

We agree, Boise is a great place to retire.  Contact Idaho Realtors Ava Tong or Cristina Pescaru to find your home in Boise.  FindYourHomeinBoise.com