Amherst Madison's Q3 Treasure Valley & Surrounding Market Report by Amherst Madison

AMHERST MADISON QUARTERLY TREASURE VALLEY MARKET REPORT 2018 | Q3

MORTGAGE RATE PREDICTIONS “As you know rates are up. You might find the below article helpful. It should be an interesting fourth Quarter, with the third quarter GDP soon to be released and then revised, the mid-term elections and two more Fed meetings. The money is on another Fed rate increase in December. But there is plenty of data ahead which could change their minds. If the economy seems to be slowing down, even a Fed increase will not raise long-term rate much. But if the economy is still humming, we could see higher mortgage rates by year end.” - David Hershman The addition of 134,000 jobs in September and the reduction in the unemployment rate to 3.7% is good news for the housing market, despite coming in weaker than had been expected. For homebuyers, a rise in average wage growth of almost 3%, helps to offset the rise in interest rates which has weakened affordability. First American chief economist Mark Fleming calculates that an estimated 2.9% annual rise in household income makes a big difference to homebuying power.

“In September, consumer house-buying power declined by $28,000, 7.4%, compared to a year ago. If household income had not increased compared to a year ago, the increase in mortgage rates would have reduced consumer house-buying power by $38,000. Rising household income offset the impact of higher cost financing by $10,000,” he said. The Bureau of Labor Statistics data also shows that there were 23,000 more construction workers in the month with a 315,000 increase over the past 12 months; although the stats do not break down how many of these are in home construction. 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

$311,767

$262,500

1.2

$154

98.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$389,887

$361,900

3.2

$167

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

BOISE

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$299,935

$259,000

1.1

$160

98.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$401,113

$355,264

2.2

$182

100.9%

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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

MERIDIAN Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$304,119

$279,900

1.1

$143

98.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$374,833

$366,305

3.6

$157

100.6%

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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

$477,326

$430,000

1.7

$167

96.7%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$470,126

$443,564

2.9

$179

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

STAR

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$321,517

$289,900

1.7

$139

98.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$406,076

$413,265

3.7

$171

101.2%

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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

$227,717

$209,900

0.7

$131

98.7%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$287,662

$275,490

4.4

$140

99.7%

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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

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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

$207,211

$180,000

1.1

$119

98.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$267,729

$251,190

3.0

$133

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

NAMPA

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$210,409

$189,900

1.0

$121

98.6%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$267,255

$249,900

3.3

$132

101.0%

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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

$194,285

$174,250

1.0

$113

98.2%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$244,017

$229,578

3.2

$131

100.6%

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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

$237,021

$208,500

1.1

$126

97.2%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$317,903

$289,990

1.7

$137

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

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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

$193,550

$174,600

2.2

$102

96.4%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$264,545

$255,000

5.0

$139

125

99.5%

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

$403,915

$308,806

1.2

$217

139

93.7%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$491,413

$409,900

18.5

$226

219

100.6%

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

$159,729

$145,000

2.1

$95

96.6%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$204,218

$210,880

4.5

$101

186

102.4%

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

$179,496

$157,500

1.3

$113

96.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$236,431

$216,475

1.8

$153

99.7%

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

$3,200,000

3962 N HACKBERRY WAY, BOISE ID LISTED BY: KELLER WILLIAMS BOISE SOLD BY: KELLER WILLIAMS BOISE

$1,325,000

1415 S HIDDEN ISLAND PLACE, EAGLE ID LISTED BY: HUBBLE HOMES SOLD BY: HUBBLE HOMES

$1,170,000

1879 W SUGAR CREST STREET, EAGLE ID LISTED BY: BETTER HOMES & GARDENS 43 N SOLD BY: BETTER HOMES & GARDENS 43 N

$1,150,000

Significant Sales 2364 N CORSEY WAY EAGLE, ID LISTED BY: CENTURY 21 MAGELLAN SOLD BY: MICHAEL RYAN REAL ESTATE

$1,030,000

11725 W LANKTREE GULCH, STAR ID LISTED BY: KNIPE LAND COMPANY SOLD BY: KELLER WILLIAMS BOISE

$1,125,000

1342 E COVEY RUN COURT, EAGLE ID LISTED BY: KELLER WILLIAMS BOISE SOLD BY: EPIC REALTY

$1,702,000

1474 W SHERINGTON COURT EAGLE, ID LISTED BY: WOODHOUSE GROUP SOLD BY: WOODHOUSE GROUP

$1,000,000

3319 SHAGGY MANE COURT, MCCALL ID LISTED BY: KELLER WILLIAMS BOISE SOLD BY: KELLER WILLIAMS BOISE

$1,299,000

1292 W SHERINGTON COURT, EAGLE ID LISTED BY: BETTER HOMES & GARDENS 43 N

SOLD BY: SILVERCREEK REALTY GROUP

$1,000,000

1009 PENSTEMEN PLACE, MCCALL ID LISTED BY: MCCALL REAL ESTATE CO. SOLD BY: REAL ESTATE OF MCCALL

$4,895,000

901 WAGON WHEEL ROAD, MCCALL ID MCCALL REAL ESTATE COMPANY

$2,490,000

7215 W MOON VALLEY ROAD, EAGLE ID SILVERCREEK REALTY GROUP

$2,299,000

2200 N BALLANTYNE LANE, EAGLE ID SILVERCREEK REALTY GROUP

$2,500,000

2565 S MILL POINT LANE, BOISE ID KELLER WILLIAMS BOISE

$2,399,000

4621 W BLUE TEAL COURT, EAGLE ID KELLER WILLIAMS BOISE

$2,275,000

103 SILVER QUEEN, SUN VALLEY ID RE/MAX RIVER RUN REALTY

$2,495,000

196 NEZ PERCE, HAILEY ID RE/MAX RIVER RUN REALTY

$2,395,000

231 BROADFORD ROAD, HAILEY ID RE/MAX RIVER RUN REALTY

$2,200,000

10 BLUEGROUSE RIDGE, HAILEY ID RE/MAX RIVER RUN REALTY

$2,149,000

Newest Listings 530 E 6150 N, HAGERMAN ID COLDWELL BANKER CANYONSIDE REALTY

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