The KEY to All Your Real Estate Needs |
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In the heat of the summer it's always nice to find activities to keep cool. How about visiting one of the many splash pads throughout the Treasure Valley. Bring the kids and let them cool off, while running-off some of that summertime energy. As we move into August, National Night Out (NNO) takes place the first Tuesday of the month (August 2 this year). NNO promotes neighborhood and community. Find out what's going on in your area and meet some of your neighbors.
Summer also means the Western Idaho Fair is coming soon. Have you ever thought about leaving your comfort zone and sharing your talents by entering an exhibit? Find out how and join the quest for a blue ribbon.
If you've noticed homes in your area seem to be staying on the market a bit longer lately, you would be right. We are currently experiencing the highest inventory of homes since September, 2016. That being said, we're still only at a 2.4 month inventory - a balanced market (one that favors neither buyers or sellers) is considered to be at 4 - 6 months.
Be well and stay cool!
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Key Market Takeaways...
- After passing the $600,000 mark in May 2022, the median sales price for homes in Ada County dropped to $592,090 in June. This was 12.8% higher compared to the same month a year ago. Since 2005, the average year-over-year percent change in home prices in Ada County has been 8.1%. In Canyon County the median priced dropped to $444.990, 5% higher compared to the same month a year ago.
- The incredible price growth seen since the onset of the pandemic was fueled by a rapid increase in demand for housing as people transitioned to remote work, the continued household formation of millennials, and historically low mortgage interest rates. With an already undersupplied housing market prior to the pandemic, prices shot up as demand outpaced supply. The buyer pool is now shrinking due to higher mortgage rates and home prices. Cooling demand has given inventory a chance to catch up a bit, giving buyers more options.
- There were 2,135 homes available for sale in Ada County. at the end of June, a 192.9% increase from June 2021, and the highest inventory seen since September 2016. Even with these inventory gains, the months supply of inventory in June was 2.4 months. A “balanced” market, or a market that does not favor buyers or sellers, is typically between 4-6 months supply.
- Competition in the market continued to show signs of normalizing. Based on the Ada County existing/resale segment, homes that closed last month spent an average of 14 days on the market before going under contract, compared to 10 days in June 2021. Additionally, the average original list price received for existing homes in June was 98.4%, which that on average, buyers paid less than asking through a lower accepted offer, price reductions, or seller concessions. In June 2021, the average original list price received was 103.9%, which means on average, buyers paid more than asking price.
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Continuing education is a priority in supporting my goal of being the best Realtor I can be for my clients. I recently completed the requirements to earn the designation of Certified Residential Specialist (CRS).
Becoming a CRS requires a combination of experience and education. Experience in completing a specific number of real estate transactions within a prescribed period of time. Education in completing a variety of coursework. Less than 2 percent of Realtors nationwide have earned the designation of Certified Residential Specialist.
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The Quest For a
Blue Ribbon
Did you know that this year approximately 14,000 entries will vie for first place ribbons at the Western Idaho Fair. From livestock to agriculture, fine arts to recipes, hobbies and crafts, the best of the best are featured at the Fair.
Have you ever thought of being a contender? Take a look at the website for information on being an exhibitor.
And, when you're at the Fair, don't miss out on viewing all the fabulous entries.
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Make a Splash this Summer...
Cool off this summer with a visit to one of the several splash pads and fountains throughout the Treasure Valley.
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Boise
Splash pads are turned on through Labor Day from 10:00 AM - 8:00 PM.
Borah Park
Located at 801 S Aurora Drive.
Comba Park
Located at 2995 N Five Mile Rd.
Grove Plaza
While the Grove fountain isn't a traditional splash pad, it does provide some relief on some very hot summer days!
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Meridian
Splash pads are turned on through Labor Day from 11:00 AM - 8:00 PM.
Settlers Park
Located at Settlers Park at 3245 N Meridian Rd.
Hillsdale Park
Located at 5155 Howry Lane, Hillsdale park doesn't have a traditional splash pad but it does have a water wickets play feature!
Kleiner Park
Located at 1900 N Records Ave.
Discovery Park
Located at 2121 E Lake Hazel.
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Eagle
Splash pads are turned on through Labor Day from 9:00 AM - 9:00 PM.
Guerber Park
Located at 2200 Hill Road.
Reid Merrill Park
Located at 637 E Shore Drive.
Heritage Park
While Heritage Park isn't a traditional splash pad, the park in Downtown Eagle has a fountain that you can cool off in.
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Kuna
You'll find the Kuna Splash Pad at 151 W 2nd St. Operating hours are 12:00 PM - 8:00 PM through Labor Day.
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Caldwell
Located at Indian Creek Plaza. Operating hours are from 9:00 AM - 9:00 PM (except for Tuesdays, when it closes at 4 p.m. for Tuesdays on the Creek/Farm to Fork Farmers Market) through Labor Day.
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National Night Out (NNO) is a unique event sponsored by the National Association of Town Watch and is held the first Tuesday in August. The National Night Out campaign involves citizens, law enforcement agencies, civic groups, businesses, neighborhood organizations and local officials. NNO is an effective, enjoyable event that promotes neighborhood spirit and police-community partnerships.
National Night Out will be celebrated across the country on Tuesday, August 2, 2022. Cities and neighborhoods throughout the Treasure Valley will be holding NNO events. Find out what's going on in your area.
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June 2022 Circle of Giving...
We at Homes for Heroes, Treasure Valley are so proud to be part of this Circle of Giving and give back to those in our community who give so much.
In April 2022, Nationally, Homes for Heroes...
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gave back $1,923,175 in Hero Rewards.
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connected 7,933 People with Homes for Heroes affiliated real estate professionals.
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helped 767 Heroes save money when buying, selling or refinancing a home.
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enriched 560 Communities with Hero related real estate transactions.
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awarded $50,000 in grant money - to the Military Officers Association of American Foundation (TMF).
Join the circle by sharing this email and GIVING your HERO friends and family the gift of BIG SAVINGS on the sale or purchase of a home.
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Even the cat enjoys cooling off on a hot summer day! |
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Julie Cendejas | Cendejas Group Real Estate, Keller Williams Realty Boise
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