The KEY to All Your Real Estate Needs |
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Merry Christmas - I hope this holiday season finds you enjoying the many festive activities the Treasure Valley has to offer.
If you love the lights and lighted decorations associated with the holiday season, you won't be disappointed - there are plenty this year. I've included some traditional favorite displays, as well as some newer to the Treasure Valley area.
What better way to work on your holiday shopping list than supporting local businesses. I've included some shops that feature handmade items created by local artisans/makers. Browse around and find something unique for that person on your gift list, or maybe yourself.
Existing home inventories continue to rise. This increase in inventory, along with supply and resource issues associated with the pandemic, has impacted new home pricing and resulted in some shift from new home buyers to existing home buyers. It also affects the overall median pricing for home sales.
Wishing you well this holiday season and into the new year!
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November 2021 Market Report |
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Key Market Takeaways...
- The median sales price for existing homes in Ada County was $510,000, while new construction topped $600,000 for a median sales price of $601,301.
- The median sales price for homes in Ada County was $537,900 up 25.1 percent over the same month last year. Home inventory was up 95.1 percent. In Canyon County the median sales price was $422,445 up 32.1 percent over last year, with home inventories up 290.1 percent over last year.
- In Ada County, existing homes were spending an average of 25 days on the market before going under contract, 92.3% longer than the 13 days seen year ago.
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Total sales were down 7.8% from a year ago, primarily from delays in the new construction segment, as existing sales were up 3.5%. More existing inventory resulted in more existing home sales.
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November
Existing Inventory vs. Pending New Home Sales
- In November 2021, the median sales price for new homes in Ada County was $601,301— passing the $600,000-mark for the first time. This is an increase of 39.8% compared to the same month last year. This record reflects a variety of market factors that were present prior to the pandemic — namely increasing costs of land, labor, and materials — as well as the ongoing impact of pandemic-related shutdowns that continue to create delays and increase costs in the global supply chain.
- Also effecting new construction sales, is the uptick in existing inventory over the past six months. There were 426 existing homes available for purchase at the end of the month, an increase of 217.9% compared to November 2020.
- There is a strong correlation between the existing inventory and new construction pending sales (properties under contract with an accepted offer that should close within 30-90 days). Looking at activity since January 2019, we have seen new construction pending sales go up when existing inventory dips, then begin to slip as existing inventory increases.
- There are always a certain number of buyers in the market that are strictly looking for a new home, but existing homes are often the starting point for many buyers looking for something that’s move-in ready. So as existing home inventory has been limited, some buyers shifted to the new construction market. Then as delays in delivery occurred, and as more existing inventory is becoming available, some are reverting back to the resale market.
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Don't miss out on all the holiday festivities taking place throughout the Treasure Valley this holiday season. |
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Winter Garden Aglow
Celebrating its 25th Year – the Winter Garden Aglow is a Treasure Valley favorite. A magnificent display of lights and decorations arranged throughout the garden at night. Experience over 500,000 lights as the Garden is transformed into a twinkling wonderland.
Now through December 31
6:00 PM - 9:00 PM
Tickets must be purchased in advance at:
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Lost in Christmas
Get "Lost in Christmas" this year at the lighted Christmas maze at Shindig Farms in Nampa. Stroll through the maze, take a horse drawn carriage ride, and warm up with a cup of hot cocoa.
Various evenings thru December 23
5:00 PM - 10:00 PM
Visit their website at:
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Winter Wonderland
Visit a real-life winter wonderland at Indian Creek Plaza in Caldwell. Over one million holiday lights cover trees, buildings, bridges all over town, painting the city in a mesmerizing glow.
Skate under the lights on a huge outdoor skating rink, or experience a singing Christmas tree - the holiday's in Caldwell are a magical season.
For more information visit their website at:
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Scentsy Commons
Visit Scentsy Commons in Meridian for a dazzling light display. Over 800,000 lights on 450 trees, a lighted tunnel and 75-foot tall Christmas tree make for a festive, bright evening.
View the lights from sunset to sunrise thru January 16.
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Christmas in Color
Again this year, Boise is one of nine cities that get to experience Christmas in Color. Head on over to Expo Idaho and drive through over one million lights synchronized to music.
Christmas in Color takes place nightly from 5:30 PM to 10:00 PM thru January 2.
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Still working on your holiday shopping list? Why not explore some local shops that feature handmade items created by local artists/makers. You'll find many creative, unique gift items for those on your gift list - and maybe a little something for yourself. |
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Idaho Made
Find an extensive selection of unforgettable products and creative vibes at this artisan co-op. Idaho Made offers you the opportunity to support over 60 local creators all in one amazing location!
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Merry Makers Market
Merry Makers Market is a month-long pop-up shop featuring a curated selection of locally handmade gifts. This year, the Market celebrates their 5th year by adding a second location in downtown Caldwell. Both locations are open through December 23.
Boise: 1740 W. State St., State Street Marketplace
Caldwell: 718 Main St., Oakes Brothers Marketplace
For more information visit their website at:
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Handmade Idaho Pop-up Store
This temporary pop-up store located in the Boise Towne Square Mall features all local goods, curated gift boxes and more!
The store will be open thru December 26.
Visit their website at:
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Wildflower Boutique
Find locally handmade gifts, home decor and more... at one of two Wild Flower Boutique's location in Kuna and Boise. Visit their Facebook site for more information at:
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Boise Location
CHOW Public Market & Eatery
7609 W. Overland
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Kuna Location
172 W. Main Street
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November 2021 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 November 2021, Nationally, Homes for Heroes...
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gave back $1,777,066 Million in Hero Rewards.
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connected 4,182 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 551 Communities with Hero related real estate transactions.
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awarded $8,000 in grant money to Colorado Nurses Association ($5,000) and TN FOP Disaster Relief Fund ($3,000).
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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Julie Cendejas | Cendejas Group Real Estate, Keller Williams Realty Boise
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