Joe Argon Real Estate Services, 1065 S. Allante Place, Boise, ID (2026)

04/02/2024

Check out my monthly Real Estate market report and some other exciting news. Ada County jumped almost $35,000 in the median sales price last month, which is a 7% increase! The market is moving.
https://mailchi.mp/5b0dad46f04b/marketmondayjuly-16935777

03/15/2024

NEWS ALERT: NAR Settlement - agrees to change commission rules in a $418,000,000 settlement. What does this mean? Find out what's going on from someone in the business and not some news reporter. Contact me if you have any questions.

09/06/2023

Monthly Market Report

We’re in an interesting market with lots of unknowns due to the feds and high interest rates (low 7%). This is causing uncertainty and we can see it in our numbers.

I’m going to give some detailed numbers and you can decide for yourself of how you want to predict them. I will also throw in some numbers from last year at this same time.

Inventory -

For Ada we are currently sitting at 1521 active listings. What was the inventory last year at this same time? 2625. That’s a 58% difference in our inventory.

For Canyon we are currently sitting at 806 active listings. What was the inventory last year at this sam time? 1357. That’s a 59% difference in our inventory.

Median Sales Price -

For Ada we had 675 homes officially sell at a median sales price of $520,000. This is down -$20,000 from LAST month. Where were we last year at this time? $565,000. If you remember last year, our peak was in June for our median sales price around $620,000 and we’ve been in a decline until April of this year. Since then, we have been ticking up and this month we took a good fall.

For Canyon we had 434 homes officially sell at a median sales price of $405,069. This is up only by a couple $79…that’s right $79 marking the 3rd month of Canyon holding their median sales price within a $1,000 range. Where were we last year? $440,990.

So if we do a quick recap. We have 58-59% less inventory and our median sales price is down by $35,000-$45,000 for both counties? I thought supply and demand are what drive the market? Yes, they do, but the other factor is interest rates and that in my opinion is why we are seeing lower numbers.

Other Info -

They say a correction in a housing market is typically 10% and if we go off of those numbers, that’s exactly what we’re seeing and if we stick to the 10%, we still have a little bit more to go.

Is the market going to crash like so many people say? I don’t believe it will. I think we might see the numbers drop a little more and that we will probably hold our prices until something changes. Will we see prices like what we saw back in May and June of 2022? I doubt that and if we do, it will years out.

Another factor to take into consideration. If I recall correctly, around 70% of all home owners have interest rates under 4%. That would lead the other 30% to be cash or investment properties. That’s why I believe inventory is down, because the majority aren’t going to give up a 3% interest rate for a 7% rate.

Lastly, existing/resale homes in Ada that received a full price offer averaged 9 days on the market. Those that received offers over asking averaged 5 days and got a median over asking of $5,100. Those that received offers under asking averaged 34 days on the market and $23,400 under their original price.

I only mention this because for those looking at selling, it's crucial to have a plan of action, what to do if the home isn’t selling in the first week and how to find the right buyers immediately. You have 8 days, and after that, your chances of receiving a full price offer declines quickly.

If you’re looking at buying or selling, I’d love to chat and show you what my program offers.

When you think of Real Estate, think Joe Argon! 208.863.9198

08/07/2023

Interest rates over 7%. Median sales price at a standstill. Inventory up. Pendings down. What is this market doing?

I hope everyone is having a great summer. We’re going to look at what happened in July compared to June.

Inventory is currently up by 123 homes in Ada and 19 in Canyon. We’re sitting at 1459 homes in Ada and 748 in Canyon.

The amount of homes listed in July are down by 138 in Ada and 28 in Canyon

The homes that have gone pending are 60 less in Ada and 84 less in Canyon.

The amount of homes that sold last month is down by 107 in Ada and down 83 in Canyon.

This is resulting in a median sales price that came in at $540,000 in Ada vs $541,000 in June.

For Canyon the median sales price came in at $404,990 vs $405,000 in June.

In looking at these numbers and our market I think we’re going to see a decline in the median sales price for August.

With the inventory increasing (supply), the pending homes being down (demand) and the amount of homes officially selling is showing that the demand has decreased.

To top it all off, the interest rates at 7% are going to slow things down as well.

Is it a crash? No, I think we saw the bottom of the market back in April and that what we’re seeing right now is it possibly slowing down.

Does it mean that the prices are going to drop? I think the median price will go down slightly, but sellers will most likely hold at certain prices.

When you think of Real Estate, think Joe Argon! 208.863.9198

07/03/2023

🏡 Market Monday 🔥

Happy almost 4th of July! Our summer heat is up and so is our market. We are going to look at our current market and see what happened in June compared to May.

Our inventory in Ada is up to 1336 at the moment from last months 1250. Canyon is up to 729 compared to last month of 661.

The amount of homes listed were slightly down. In Ada we had 972 homes listed compared to 1031 in May. In Canyon we had 506 listed compared to 523 in May.

Our pending homes are up by A LOT. We have 1008 pending homes in Ada compared to 642 last month. In Canyon we have 753 compared to last month of 405. This is showing that our demand has increased.

We had 761 homes officially sell in Ada compared to last month of 699. In Canyon we had 407 officially sell compared to 404 last month.

Of those sold homes we had a median sales price of $541,000 in Ada compared to the previous month of $534,900. In Canyon county and their sold homes, we had a median sales price of $405,000 compared to $415,000 the previous month. So we’re up $6,100 in Ada and down $10,000 in Canyon.

Our cash sales came in at 25% in Ada and 20% in Canyon.

Where do we see our market for the month of July? I believe we saw the bottom back in April and with our current data that the market will hold based on inventory and demand.

For all your real estate needs, think Joe Argon!

06/05/2023

🏡 Market Monday 🔥

It might be a cool June, but our market is hot.

It’s time for our monthly report of what’s going on in our real estate market in the Ada & Canyon County area.

Inventory is slightly up from last month, in which we’re sitting at 1250 homes in Ada compared to 1109. This is typical and not a big increase at all compared to what happened last year at this time.

Canyon County sits currently at 661 compared to last month at 652.

There were 1031 homes listed in Ada compared to last month we had 851. In Canyon we had 523 listed last month compared to the previous months 449.

We have 642 currently pending in Ada compared to 728 last month.

In Canyon, we have 405 pending compared to 474 last month.

We had 699 homes that officially sold in Ada, which is slightly up from last month of 641.

In Canyon we had 404 homes that officially sold, which is up from last months 372.

The median sales price of the sold homes in Ada came in at $534,900 which is a 3.4% increase from the previous month of $517,000.

In Canyon the median sales price rose significantly coming in at $415,000 which is a 6.4% increase from the previous month of $389,995.

I believe with what we’re seeing in our market, that we have seen the bottom (for now) and that things should hold from here until something else changes and we might even see it slowly increase.

If you’re thinking of buying or know anyone who is, I’d love to chat. If you're a seller or know someone who is and is tired of the traditional way. Our home selling program sales your home for top dollar in 8 days or less. We identify ever buyer for your home in 72 hours with no daily showings, privacy from nosey neighbors, no hassle, no obligations and a whole lot more.

When you think of Real Estate, think Joe Argon! 208.863.9198

05/01/2023

🏡 Market Monday 🔥

It’s the beginning of the month, which means we get to see where we currently stand in the market and what happened last month.

We closed out April with a median sales price in Ada that was up by 6.5% from last month. We went from $485,000 to now $517,000.

For Canyon we went the opposite direction going from $395,490 down to $389,995.

Anytime where I see those numbers being opposite of each other, it usually corrects itself the following month. So for May either Ada will drop back to a similar price of last month or Canyon will increase.

Our new/added listings were down by almost 4% from last month in Ada and 15% in Canyon.

Along with this, the amount of homes that went pending were up by 27% in Ada and 20% in Canyon.

The amount of homes sold were down by 12% in Ada and 15% in Canyon.

Cash sales remain relatively the same as they were the previous month at 25% and 15%.

So what are we seeing?

We are seeing demand increase, hence the higher number of pending homes. We are also seeing inventory slowly drop.

Last May we saw our inventory rise like crazy. The only difference between then and now is a 3% interest rate vs a 6.5% interest rate.

If inventory starts to rise then we will probably see our prices continue to drop or just stabilize like they’ve been the last couple months.

People are still moving to the area and we still have a lot to offer those fleeing certain states.

If you’re thinking of selling, check out our program getting our sellers 8.4-12% higher prices than homes sold the traditional way. No daily showings, no long listing agreement, sell in less than 8 days with no obligation. Give me a call 208.863.9198

04/03/2023

🏡 Market Monday 🔥

To make things a little easier to understand, I've decided to make these reports on a monthly basis. While doing that, they will only be focused on single family homes.

INVENTORY:
Our current inventory is down 11.3% in Ada from last month (currently 1064 vs 1185).

In Canyon we are down 6.9% from last month (currently 694 vs 742).

NEW LISTINGS:
The amount of homes listed in March for Ada was up 27.8% from February. (March 885 vs February 692).

In Canyon this was up 36.3% (March 525 vs February 385).

PENDINGS:
We currently have 573 homes pending in Ada at a median price of $525,000.

For Canyon this is 394 at a median price of $394,945.

SOLD:
We had 730 homes officially sale in Ada with a median sales price of $485,000. This is down from February’s median sales price of $491,057.

Canyon had 435 homes officially sale with a median sales price of $395,490. This is up from February’s median sales price of $389,990.

RANDOM:
527 of the newly listed 885 homes in Ada for last month are still active. 337 so far have gone pending or sold.
304 of the newly listed 525 homes in Canyon for last month are still active. 205 so far have gone pending or sold.

I think we will see a rise in the median sales price for April with the current data we’re showing. Demand has increased, inventory decreased, pending sales are up. These are signs of a shift, but we will find out next month.

If you’re thinking of selling or buying real estate then talk to me first.

When you think of Real Estate, think Joe Argon! +1 208-863-9198

03/13/2023

🏡 Market Monday 🔥

Inventory drops in Ada and increases in Canyon.

I’ve been saying that since our peak inventory in August which was 2660 in Ada and 1371 in Canyon.

Right now our inventory sits at 1215 in Ada and 707 in Canyon.

The amount of homes listed last week was down by 12% from the previous week in Ada and up 25% in Canyon.

The homes that went pending were down 10% in Ada from the previous week and up almost 3% in Canyon.

The amount of homes sold last week was down 27% from the previous week in Ada and 14% in Canyon.

Of those sold homes the median sales price came in at $477,450 which is down 1.5% from the previous week. For Canyon the median sales price was $389,990 which is down 3.7% from the previous week.

An interesting number is that the median price on the pending homes is $550,000 for Ada which is an increase of $70,000 from last week. Canyon counties pending median price was down around $17,000 from last week.

77% of resale homes in Ada sold under their original asking price by an average of $41,629 with an average days on market of 59.

68% of resale homes in Canyon sold under their original asking price by an average of $25,000 with an average days on market of 66.

Ask me about our non traditional way of selling your home. Our program is getting our clients 8.4-12% higher prices than homes sold traditionally in under 8 days and you have ZERO obligations.

When you think of real estate, think Joe Argon! 208.863.9198

03/06/2023

🏡 Market Monday 🔥

We closed out the month of February with a slight increase in the median sales price for Ada and decrease for Canyon.

Ada came in at $491,057 compared to $487,495 in the previous month. So an increase of $3562.

Canyon came in at $389,990 compared to $395,445 in the previous month. So a decrease of $5,455.

Interest rates climbed this week and are almost sitting at 7%.

Inventory decreased again, but only by a little and that was due to an increase in the amount of homes listed being up 17-19% than last week.

Current inventory sits at 1220 and 682. Last week this was 1237 and 688.

Pendings were similar to the week before, but this week the median sales price of the pending homes were down by 12-20k than last week.

We had a 36% increase in the amount of homes sold in Ada last week from the previous week.

Of those sold homes in Ada, the median sales price was down by 3% from last week. Canyons median sales price was up by almost 4% than the previous week.

Keep in mind that 82-86% of the homes last week sold under their original asking price.

If you’re thinking of selling in this market or know someone with a home that’s sitting and not moving. Then let me show you our home selling program. There’s nothing like it out there and we can sell your home in 8 days for top dollar!

When you think of Real Estate, think Joe Argon! 208.863.9198

02/27/2023

🏡 Market Monday 🔥

Interest rates in the high 6’s while buyer demand is increasing.

Inventory continues to drop as we had a 3% drop in Ada from last week and a 4% in Canyon.

The amount of new listings were up 9% in Ada from last week and down 21% in Canyon.

The sold homes are up 10% in Ada and down 3% in Canyon.

The median sales price of those sold homes were $500,200 in Ada and $389,900 in Canyon. This was an increase of 1.6% in Ada from the previous week and 2.6% increase in Canyon.

We haven’t closed out the month of February, but our current median sales price for the entire month is at $485,000 in Ada and $385,000 in Canyon. This is a $2500 decrease in Ada from last month and $10,445 decrease in Canyon.

If we look at the resale homes only, there is a $19,800 decrease in Ada and a $22,250 increase in Canyon.

Where do you think our market is headed?

The pending median sales price was up for Ada this week by $20,000 but down by $33,000 in Canyon.

We are still on a downward slope, but for how long? Check back every Monday.

When you think of Real Estate, think Joe Argon! 208.863.9198

02/20/2023

🏡 Market Monday 🔥

Thinking of selling in this market? Last week 73% of the resale homes sold under their original price while sitting on the market with an average time of 76 days on the market. Sounds fun doesn’t it? (Sarcasm). Let’s not forget to mention that they also sold by an average of $62,252 less than what they were asking for….Ouch. Don’t fall for the traditional real estate selling process wasting your time, money and sanity.

Our home selling PROGRAM is getting our clients top dollar for their homes (8.4-12% higher prices) than the traditional process. Contact me to find out how.

Inventory declines again by 3% in Ada and 5% in Canyon from last week.

The amount of new home listed were down by 5% in Ada and up 28% in Canyon from last week.

The amount of homes that went pending are up by 10% in Ada and 14% in Canyon. This means that more buyers are making offers. The homes that went pending this week have a median price of $479,990. While over 80% of homes are selling for under their asking price, this data right here shows me every week of where our median sales price will be from a month from now. What do you think that data is currently showing? Another decline.

Homes that officially sold were up 6% in Ada and 33% in Canyon from last week.

Of those sold homes the median sales price was up 2.5% in Ada and down 10% in Canyon from last weeks numbers.

We’re currently sitting for the month at a median sales price of $485,000 in Ada and $385,000 in Canyon. Last month we closed out January at $487,495 and $395,445 and will know our official February number in another 2 reports.

When you think of Real Estate, think Joe Argon! 208.863.9198

Joe Argon Real Estate Services

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