Amherst Madison Q4 Market Report by Amherst Madison

AMHERST MADISON QUARTERLY TREASURE VALLEY MARKET REPORT 2018 | Q4

MORTGAGE RATE PREDICTIONS It is officially 2019! Every year high-paid economists come out with their predictions for a host of economic indicators, from economic growth to the pace of inflation. It is always interesting to look at these in hind sight, especially when forecasting the direction of interest rates. It seems that just about every year during the recovery of the Great Recession, there have been predictions that rates will rise. And even though the recovery took almost a decade, rates did not actually start rising significantly until the last year. Last year was a pretty easy prediction because of the passage of the tax package at a time in which the Federal Reserve Board was raising rates. Just about everyone was predicting at least a shortterm boost for the economy and the vision of higher rates were right on target -- until late in the year. For next year, 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 fixed rates. In general, that means the economists believe that rates will rise some more.

Will they be right two whole years in a row? Keep in mind, as of right now, there is no new tax package coming to the table and plenty of other factors in play which could render these predictions worthless. We think we should keep our eyes on the more immediate future. Like the weather, they are usually right a day or so in advance. For example, perhaps we can see if the economists are correct in predicting a rebound from the 155,000 jobs added in December. The report is due out on Friday. Strong data to top off the year could drive rates higher. If we have two mild job reports in a row, the predictions regarding rates may start the year missing the mark. 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

$321,015

$279,900

0.7

$159

98.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$396,671

$370,000

3.6

$170

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

BOISE

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$317,631

$270,000

0.8

$167

98.6%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$409,164

$369,900

2.8

$185

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

$325,792

$292,500

1.4

$150

98.8%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$383,794

$373,400

4.3

$161

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

EAGLE

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$492,641

$435,000

1.2

$175

97.2%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$478,476

$459,440

2.7

$181

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

STAR

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$357,271

$305,000

1.7

$152

98.6%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$413,038

$425,650

3.5

$174

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

KUNA

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$248,783

$223,000

1.3

$137

98.9%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$297,489

$285,190

4.6

$143

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

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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

$215,670

$98,000

0.7

$123

98.5%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$276,687

$257,990

3.5

$136

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

NAMPA

Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$223,543

$200,000

0.9

$127

99.0%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$276,329

$257,690

4.0

$136

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

CALDWELL Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$209,436

$185,149

1.1

$120

98.4%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$263,267

$236,260

4.3

$137

100.2%

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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

MIDDLETON Combined Market

EXISTING HOMES Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$246,101

$226,000

0.6

$130

97.7%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$311,203

$290,374

0.6

$135

101.7%

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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

$197,741

$178,000

1.7

$105

96.6%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$264,591

$256,000

5.3

$141

122

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

$381,337

$300,500

2.0

$210

94.3%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$416,005

$420,000

37.8

$220

134

100.9%

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

$154,950

0.9

$98

96.8%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$210,880

60.0

$85

170

117.8%

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

$179,946

$168,450

0.7

$115

96.4%

NEW CONSTRUCTION Annual Averages

Avg Sold Price

Med Sold Price

Mths of Inventory

Price/SqFt

Avg DOM

Avg Discount

$230,447

$218,600

6.3

$156

100.2%

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

$2,999,000

1436 GUN HILL RD. MCCALL ID LISTED BY: GROUP ONE SOTHEBY’S REALTY SOLD BY: MCCALL REAL ESTATE COMPANY

$2,900,000

11600 W CORIANDER LN. STAR ID LISTED BY: SILVERCREEK REALTY GROUP SOLD BY: SILVERCREEK REALTY GROUP

$2,900,000

450 CROWLEY LN. MCCALL ID LISTED BY: MCCALL REAL ESTATE COMPANY SOLD BY: CRAWFORD OLSEN REAL ESTATE

$1,795,000

Significant Sales 1041 E RIVERS END DR. EAGLE ID LISTED BY: AMHERST MADISON SOLD BY: KELLER WILLIAMS BOISE

$1,702,000

1474 W SHERINGTON CT. EAGLE ID LISTED BY: WOODHOUSE GROUP SOLD BY: WOODHOUSE GROUP

$1,500,000

8177 N STONEBRIAR LN. MERIDIAN ID LISTED BY: REALTY ONE CENTRE BOISE SOLD BY: REALTY ONE CENTRE BOISE

$1,650,000

48 & 40 PEARSON LN. MCCALL ID LISTED BY: MCCALL REAL ESTATE COMPANY

SOLD BY: N/A - NON MEMBER OFFICE

$1,335,000

4262 S RUSTLER MERIDIAN ID

LISTED BY: COLDWELL BANKER TOMLINSON

SOLD BY: KELLER WILLIAMS BOISE

$1,582,000

1101 RUBY CREEK RD. HARVARD ID LISTED BY: MOSCOW REALTY INC SOLD BY: LATAH REALTY LLC

$1,300,000

1750 W CLEARVUE ST. EAGLE ID LISTED BY: JOHN L SCOTT BOISE SOLD BY: KELLER WILLIAMS BOISE

$7,750,000

2420 E WARM SPRINGS AVE. BOISE ID RED PHEASANT REALTY

$2,595,000

1128 W SHEARWATER LN. EAGLE ID GROUP ONE SOTHEBY’S REALTY

$2,495,000

1504 MCCALL AVE. MCCALL ID REAL ESTATE OF MCCALL

$5,000,000

300 BANKS GRADE RD. BANKS ID GROUP ONE SOTHEBY’S REALTY

$2,500,000

961 BANKS LOWMAN RD. GARDEN VALLEY ID

ACCEL REALTY PARTNERS

$2,483,000

582 W RIVER HEIGHTS DR. MERIDIAN ID KELLER WILLIAMS REALTY BOISE

$2,795,000

3816 E LINDEN ST. CALDWELL ID SILVERCREEK REALTY GROUP

$2,500,000

1700 E WARM SPRINGS AVE. BOISE ID GROUP ONE SOTHEBY’S REALTY

$2,399,000

4621 W BLUE TEAL COURT, EAGLE ID KELLER WILLIAMS REALTY BOISE

$2,315,000

Newest Listings 140 W SKYLARK DR. BOISE ID ATOVA 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