Q1 2019 Amherst Madison Market Report by Amherst Madison

AMHERST MADISON QUARTERLY TREASURE VALLEY MARKET REPORT 2019 | Q1

MORTGAGE RATE PREDICTIONS Yes, they were wrong. At the f irst of the year we published a range of forecasts. This included the predictions for interest rates in 2019. These predictions were summarized by MarketWatch -- For 2019, Market Watch reviewed the predictions of rates on home loans by several major economists. The range was an annual average of between 4.8% to 5.3% for 30-year f ixed rates. In general, that means the economists believe that rates will rise some more. Basically, at this point we can say that these forecasts were wrong. Rates have actually come down so far this year, with 30-year f ixed rates averaging more than one-half of one percent below this range. We all know that predictions are often wrong, which is why we don’t place bets on the markets. We are not here to place blame. We are here to point out an important opportunity. If you are looking to make a large purchase such as a home or ref inancing, this is certainly a great time to take advantage of these low rates.

We must also point out that there is plenty of time left in the year. That means that the original predictions may still turn out to be true. We know that rates, like any markets, can turn at any time. For that reason, we can’t say how long this opportunity will last. It may last a few more weeks or for a much longer period of time. Our advice would be to act on what is benef icial to you today, rather than waiting for the other shoe to drop later on.

Rate prediction report provided by Mortgage Professional America and David Hershman of the Hershman Group and OriginationPro.

ADA COUNTY 2 COUNTY COMBINED MARKET BOISE MERIDIAN EAGLE STAR KUNA

CANYON COUNTY 9 COUNTY COMBINED MARKET NAMPA CALDWELL MIDDLETON

TWIN FALLS COUNTY 14 COUNTY COMBINED MARKET

VALLEY COUNTY 16 COUNTY COMBINED MARKET

ELMORE COUNTY 18 COUNTY COMBINED MARKET

GEM COUNTY 20 COUNTY COMBINED MARKET

SIGNIFICANT SALES 22

NEWEST LISTINGS 23

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ADA COUNTY Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$325,273

$375,401

0.8

$163

98.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$402,597

$317,950

2.8

$174

100.1%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

BOISE

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$313,558

$278,500

0.7

$169

98.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$429,341

$431,675

2.8

$191

100.8%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

MERIDIAN Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$316,758

$292,700

0.8

$150

98.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$385,784

$357,945

2.9

$164

99.8%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

EAGLE

Combined Market +

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$492,118

$415,000

1.3

$175

97.2%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$483,166

$443,020

2.8

$184

100.1%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

STAR

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$352,589

$334,821

1.1

$149

97.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$425,258

$403,000

3.1

$178

100.3%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

KUNA

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$244,900

$248,500

0.5

$140

99.0%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$301,420

$286,990

2.0

$147

98.9%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

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CANYON COUNTY Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$219,803

$208,700

0.7

$126

98.7%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$285,528

$271,021

3.8

$141

100.5%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

NAMPA

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$221,940

$216,000

0.6

$129

99.1%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$291,003

$288,165

4.9

$141

100.7%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

CALDWELL Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$209,146

$199,000

0.6

$122

98.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$266,248

$238,990

3.1

$140

99.4%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

MIDDLETON Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$247,800

$225,000

1.1

$131

97.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$318,348

$309,020

1.2

$140

102.3%

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Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

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TWIN FALLS COUNTY Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$198,889

$185,000

2.0

$107

96.6%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$267,972

$263,745

4.1

$142

121

99.1%

Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

VALLEY COUNTY Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$384,721

$395,000

2.2

$211

153

94.9%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$426,932

$426,300

26.0

$238

229

102.0%

Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

ELMORE COUNTY Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$160,963

$159,000

0.9

$98

96.8%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$229,885

$249,000

36.0

$112

169

116.1%

Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

GEM COUNTY Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$179,920

$185,000

0.8

$118

96.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$233,954

$256,922

5.2

$158

101.0%

Months of Inventory = Active Listings / Average # closed sales each month over past 12 months | Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

$1,800,000

$1,565,000

579 E ORION CT BOISE ID LISTED BY: RALSTON GROUP PROPERTIES SOLD BY: SILVERCREEK REALTY GROUP

1213 N HARRISON BL BOISE ID LISTED BY: SILVERCREEK REALTY GROUP SOLD BY: RE MAX / EXECUTIVES

$1,500,000

1433 E WARM SPRINGS AV BOISE ID LISTED BY: EPIC REALTY LLC SOLD BY: EPIC REALTY LLC

$3,400,000

Significant Sales 2280 S BLUESTEM LN BOISE ID LISTED BY: KELLER WILLIAMS BOISE SOLD BY: KELLER WILLIAMS BOISE

$1,825,000

4176 N HACKBERRY WY BOISE ID LISTED BY: KELLER WILLIAMS SOLD BY: KELLER WILLIAMS

$3,100,000

4605 WILLIAM’S CREEK LOOP MC CALL LISTED BY: MC CALL REAL ESTATE CO SOLD BY: NON MLS MEMBER OFFICE

$1,900,000

3100 N GLEN STUART LN EAGLE ID LISTED BY: ACCEL REALTY PARTNERS SOLD BY: MONIKER REAL ESTATE

$1,300,000

7203 E COLUMBIA BOISE ID LISTED BY: ERA WEST WIND BOISE SOLD BY: JOHN L SCOTT REALTY

$2,480,000

21841 RODEO LN WILDER ID LISTED BY: KNIPE LAND CO SOLD BY: KNIPE LAND CO

$2,599,000

12829 DAWN DR DONNELLY ID LISTED BY: FRONT STREET BROKERS SOLD BY: MC CALL REAL ESTATE CO

2,500,000

4607 ELGIN RD NEW PLYMOUTH ID PREMIER GROUP REALTY WEST

$1,810,000

946 SHEARWATER DR EAGLE ID BOISE PREMIER REAL ESTATE

$1,798,000

1342 W APPLECREEK CT EAGLE ID CENTURY 21 EAGLE ROCK

$2,249,000

2397 N OVERVIEW PL BOISE ID KELLER WILLIAMS REALTY BOISE

$1,600,000

189 S MOON BEAM WY EAGLE ID EPIC REALTY LLC

$1,595,000

530 E 6150 N HAGERMAN ID COLDWELL BANKER CANYON SIDE

$2,395,000

280 W RIVERMONT LN EAGLE ID THE SMACK GROUP

$1,698,000

9400 W PEBBLE BROOK LN GARDEN CITY

KELLER WILLIAMS REALTY BOISE

$1,500,000

2060 N STEWART RD KUNA ID REALTY ONE GROUP PROFESSIONALS

$2,090,000

Newest Listings 2105 WATER LILY LN MC CALL ID CRAWFORD OLSON REAL ESTATE

Months of Inventory = Active Listings / Average # closed sales each month over past 12 months Criteria: Single Family, less than 2 acres, Condo, Townhouse; min 1 Bed, 1 Bath

Source: InterMountain MLS; Statistics provided considered accurate and reliable, but not guaranteed by Amherst Madison Real Estate Advisors