March 2019 Treasure Valley Real Estate Market Statistics

“How’s the market?” is the one question that Windermere Agents get asked most. It is the same question we ask when we meet an agent from another state. It’s a simple question with a very complex answer. Windermere Powerhouse Group knows how important it is to understand our real estate market and how curious everyone is to know what is going on in our community. So we created a market snapshot and a detailed report for every area of the Treasure Valley that will be posted monthly here on our Blog. This month we are featuring Ada County Existing Home Sales (i.e., greater than 1 year old). Links for other areas and detailed reports are below.

 

 

 

 

1. Spring and summer are historically the seasons when market activity increases. More homes are available for sale, and under the current market dynamics, demand immediately follows. Total Year-to-Date (YTD) 2019 transactions are down from 2018, and the shortage of supply is a major contributor. As you’ll see below, overall prices continue to increase yet days-on-market remain at historically low levels. If you are interested in buying or selling your house now is the perfect time to take action.


 

2. Existing home prices have risen every year since 2011 and have taken a substantial increase in the last several years.   Average prices for Ada County existing homes have continued to climb in 2019, currently up 3.6%.   Windermere Real Estate’s in-house economist, Matthew Gardner, forecasts 2019 Home Price growth to be 4.5% nationally, 8.9% in Ada County and 8.1% in Canyon County.  So it’s actually a safe time to buy or sell a home too.  Gardner forecasts the number of Ada County households to increase by 11.1% over five years, while Canyon County by 13.3% growth.

 


 

 

3.  Last March, nearly half the existing Ada County homes that sold closed “At” or “Above” the original asking price. However, that trend varies greatly throughout the Treasure Valley. The graphs above show a snapshot of the Ada County averages compared to the North End and Boise Bench. There are numerous factors affecting a home’s price, and it’s evident that overpriced houses cost their sellers 2-3 mortgage payments last month. Specific neighborhoods have their own unique characteristics, and the REALTORS® at Windermere Powerhouse Group each possess the expertise and data to lead your next real estate transaction.


If you’d like more detailed information, have interest in learning more or would like a thorough valuation of your current home, we’d love to hear from you. 

Specialized Areas and Construction Types

Ada County Existing Sales March 2019
Ada County New Construction March 2019
Canyon County Existing Sales March 2019
Canyon County New Construction March 2019
Your Neighborhood

 

 

 

 


Posted on April 4, 2019 at 9:32 am
Windermere Powerhouse Group | Posted in Market News, Real Estate Trends | Tagged , , , ,

5 Home Improvements That Will Boost Your Property Value

A home is the largest investment most people will make in their lifetime, so when it comes time to sell, homeowners often wonder what they can do to get the most return on their investment. Many have the misconception that remodeling is the way to go, but that isn’t always the case. Rather than going all-in on upgrading your home, you should know which home improvements are worth it, and which ones aren’t.

We’ve sifted through the research and come up with a quick list of five home improvements that’ll help buyers fall in love with your home when it comes time to sell.

1. Add a little curb appeal 

Curb appeal is critical. As the name suggests, it’s the first thing buyers see when pulling up to the front of any home so it needs to be in nearly pristine condition. Start with the garage door for the most immediate return. According to Remodeling Magazine’s 2018 Cost vs. Value report and Money.com, the cost of updating your worn builder-grade garage door with an upscale steel model is about $3,470, and it’ll boost your home’s value by 98.3 percent of the installation price, which means you’ll lose about $60 when it’s all said and done.

Landscaping can also go along way for a minimal upfront investment. Six rounds of fertilizer and weed control will set you back about $330, but when it comes time to sell, you’ll see an ROI of about $1,000 according to a survey by the National Association of Realtors.

Continue reading


Posted on March 26, 2019 at 2:41 pm
Windermere Powerhouse Group | Posted in Real Estate Trends |

New Windermere campaign highlights agents who go the extra mile — sometimes literally

BY ANDREA V. BRAMBILA, Staff Writer

Seattle-based brokerage Windermere Real Estate has launched a new marketing campaign highlighting not its considerable technology chops, but its agents’ willingness to go above and beyond for their clients.

The campaign follows the company’s $10 million rebranding effort last year, in which Windermere unveiled a new logo, and a celebration earlier this month in which the company marked its 30-year anniversary and a $38 million funding milestone for its nonprofit Windermere Foundation. Windermere has more than 300 offices and 6,500 agents in Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington and Mexico.

“We’re lucky to have a brand with such a rich legacy, but we have to continue to innovate and press forward,” said OB Jacobi, Windermere’s president, in a statement.

“The brand refresh that we did last year was part one of Windermere’s brand story; part two is about bringing our stories to life and showing our clients how we’re ‘all in’ for them.”  Continue reading


Posted on March 22, 2019 at 1:25 pm
Windermere Powerhouse Group | Posted in Real Estate Trends |

The Idaho Economic Report by Matthew Gardner

The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact our office. 

ECONOMIC OVERVIEW

Job growth in Idaho slowed in the fall of 2018 but the state added 13,200 new jobs over the past 12 months, representing an annual growth rate of 1.8%.

In November, the state unemployment rate was 2.6%, down from 3% a year ago. The state remains at full employment, which explains why we are seeing a slowdown in employment growth. I fully anticipate that the state will return to above-average growth in 2019 and continue its trend of adding jobs at well above the national pace.

HOME SALES ACTIVITY

  • 5,308 homes were sold during the fourth quarter of 2018, representing a drop of 3% compared to the final quarter of 2017.  Continue reading…

Posted on February 7, 2019 at 9:41 pm
Windermere Powerhouse Group | Posted in Real Estate Trends | Tagged , , ,

Top 5 things your brokerage should do for you.

Did you get sucked in by the hype, only to be left feeling like a number? Going to the office and doing what you love should be energizing, not draining. Your broker should be doing these things to ensure your success:

  1. Your broker should care about you and your career goals, not just on your anniversary.
    Does your broker know who you regardless of your production level? Whether you are doing well or struggling, your broker should be there to help. Our broker is not only a seasoned agent, but a former IREC employee who is a consultant to other brokers. Tanya is the broker you want in your corner.
  2. Be available WHEN deals are happening, on the phone and in the office.
    If not, find a broker that will be there! Our broker is familiar with every transaction, and knows all of our agents.
  3. Provide individualized coaching and education opportunities.
    Never stop learning with agent groups, regular classes, free CE classes, and CORE classes offered in our in-house real estate school. We bring in local and national experts to teach classes, many of which are free for our agents. We also offer a 4-step onboarding plan to ensure your success.
  4. Gives you a great space to work.
    An amazing space that lends itself to collaboration and fosters rapport between agents, as well as a great place to entertain clients that you can be proud of. Our space is historic on the outside, yet is an innovative start-up at heart, with cutting edge systems to support you.
  5. Vibe. Everyone says they have a great culture, but do they have a great vibe?
    Does the staff know your name? Do the other agents? Find a place where you feel connected and inspired – our vibe eats their culture for breakfast!

 

If you are feeling stuck at your current brokerage, let’s talk! Here at the Windermere Powerhouse Group, we are big enough to offer you a regional presence and connections along with a 46-year history to leverage, yet small enough to feel like a boutique firm where it feels like family. We have a genuine culture of collaboration where you are immersed in a positive environment that fosters a feeling of community and success. Click here to schedule an office tour today!

 


Posted on January 21, 2019 at 9:46 pm
Windermere Powerhouse Group | Posted in Careers | Tagged , , , , , ,

Top 5 tips for success!

Are you the waterboy or the quarterback?

Do you feel like you are working for everyone but yourself? Here are 5 top tips for success:

  1. Write down your dreams and goals. Be specific and develop a plan to reach them.
    Do you get one-on-one coaching with your Broker to guide your career development and help you achieve those goals? We help you development a plan that is ready to execute, yet nimble enough to shift as the market changes with regular updates.
  2. Take action. Goals are nothing without action. Get started today.
    We offer annual business planning, sales and marketing coaching and planning, and create a budget with you that includes a plan to execute. We have integrated software tools to help you track your efforts and create your marketing materials. You have an entire team to guide and support you every step of the way as you climb the ladder to success.
  3. Be honest, dependable, and take responsibility, otherwise none of these will matter.
    We offer group resources and support to help keep you on track and accountable – benefits of being a part of group without having to be on a team. Our agents are able to have focused careers, yet lead balanced lives.
  4. How you think is everything. Think success, not failure, as your life tends to go wherever the focus leads.
    Gain the mental discipline, focus, lead-generation techniques, and relationship-building skills that are designed to get the best results. Through individualized meetings, complimentary classes, and our proprietary systems, we help you grow your business.
  5. Don’t be afraid to innovate and be different. Following the herd is a fast track to mediocrity.
    If you are feeling like just another number, you probably are. From the moment you walk through our doors, you will see and feel the difference in our way of thinking. We offer tools and resources to keep you on the cutting edge of the industry.

 

If you are feeling stuck at your current brokerage, let’s talk! We have an amazing culture of collaboration where you will be surrounded by a positive environment that fosters a sense of community and success, as well as a space you can be proud to bring clients. Click here to schedule an office tour today!

 


Posted on January 21, 2019 at 9:18 pm
Windermere Powerhouse Group | Posted in Careers | Tagged , , , , ,