Boise Regional Realtors reported that October 2018 marked a full four years of declining inventory in Ada County.  The number of existing homes for sale last month was down 15.0% from October 2017 and down 48.8% from the start of the decline in October 2014.  As has been discussed in previous market updates, the continued decrease in the number of homes for sale can be attributed to several factors including rapid population growth and a trend of people staying in their homes longer instead of moving.  Refer to the article below with more information on this trend of people choosing to upgrade and add on to their homes as opposed to selling and finding a newer, larger, or upgraded property.   

Low inventory levels combined with increasing costs for land, labor, and materials for new homes are the two main reasons we have continued to see a rise in the overall median sales price.  The median sales price for October 2018 was $321,398, up 0.8% from September and 19.9% up from October of last year.  

Although the market does tend to slow down this time of year, the factors above should give encouragement to those looking to sell.  There are most definitely buyers out there who would love to see your home added to their list of options.  The price you could get from those buyers continues to improve as well!  If you’d like more specific details on what your home may be worth or would just like to talk more about your options to buy or sell in this market, please don’t hesitate to contact us! We’d love to meet with you, listen to your needs and desires, and share the information we know that might help!  

Below are the current Ada County market statistics for October 2018 compared to October 2017:

Existing/Resale...
 

• Closed sales – 703 (down 1.7%) 
• Median Sales Price - $290,000 (up 17.5%)
• Days on the Market - 25 (down 16.7%) 
• Inventory: 870  (down 15%)
• Months of Supply: 1.3 (down 7.1%)

We also wanted to show how the number of months supply of inventory fluctuates based on the price range.  The current month’s existing supply condition in each price range is as follows: 
 

• $159,999 or less: 0.5 month
• $160,000 - 199,999: 0.3 month
• $200,000 - $249,499: 0.6 month
• $250,000 - $299,999: 1 month
• $300,000 - 399,999: 1.4 months
• $400,000 - 499,999: 1.8 months
• $500,000 - $699,999: 1.8 months
• $700,000 - $999,999: 4.6 months
• $1,000,000 or more: 0 months

The Boise Little Theater, located in the North End, is one of the longest running, completely volunteer operated, community theaters in the country.  The organization produces plays in almost every genre, including contemporary, classical, comedy, drama and musical.  The theater first opened in 1948 in a building at Gowen Field.  Unfortunately, in 1957, that building caught fire and burned down, tragically claiming the lives of two of its members in the blaze. 

Following the fire, Art Troutner designed a unique round theater for the organization.  Art was an eccentric and talented Boise architect, famous for developing open truss construction.  The new theater was built in the Fort Boise area and has become a city landmark.  The Boise Little Theater has its own version of the Oscar—called the Beulah—which has been awarded every July since 1949 at the theater’s Annual Awards Picnic.  The organization is always open to bringing on new volunteers. So, if you have any interest in acting, directing, set design, lights, sound, working back stage, or ushering, definitely give them a call.  You can learn more about the Boise Little Theater and how to get involved on their website, BoiseLittleTheater.org

Each fall, the agents and spouses of TripleCord get together for dinner in our home.   It is one of my favorite evenings of the year - dining, laughing, crying, learning, and growing together as we reflect on what God has been doing in each of our lives.  As we went around the table and shared some of our joys and struggles over these past 12 months, TRUST was a definite common theme.  In Proverbs 3:5-6 the Bible tells us to, "Trust in the Lord with all you heart, and do not lean on your own understanding.  In all your ways acknowledge him, and he will make straight your paths."

Learning to truly trust the Lord with our lives is a difficult journey - one that repeats regularly and at times can be more challenging than other times.   As people shared their experiences, we found ourselves in different stages in the "trust journey."  Some of us were in that space of "kind of" trusting, but not really trusting with "all" our hearts. - expressing fears about financial need, job loss, job changes, sickness, family adjustments friends in difficult circumstances, and role changes.  Those of us in this spaced confessed that although we know that God has the power to take care of our fears, we still tend to lean on our own understanding of how those fears would best be relieved rather than trusting in God to relieve them in His most excellent ways.  Some of us expressed being in a space of truly trusting the Lord, and though maybe not yet seeing a straight path before us, being fully confident that God would make it so.  And, some of us, praise be to the Lord, found ourselves standing at the end of a difficult journey, looking back and rejoicing at God's faithfulness to make our paths straight and carry us through.

Personally, I found pieces of myself in all sections of the "trust journey."  With the difficult trials of friends, I find my heart heavy and only "kind of" trusting how God is going to work it out.  With our adoption, by the grace of God, I am really trusting and am confident He has laid a good path before us no matter where it leads.  And with my role change from agent to broker, I am looking back and rejoicing in how God took my plans, scrambled them up, and then laid before me a much more excellent way - proving again to me that He is more than worthy of my trust.

We left our time together humbled by the fact that we are a stiff necked and forgetful people, who despite experiencing God's unwavering faithfulness time and time again, will tend to mistrust and doubt him.  Simultaneously, we left encouraged that God does not leave us in a space of fear, anxiety, and doubt.  Rather, He graciously and lovingly uses stories of His faithfulness in our own personal lives and the lives of others to affirm that He is worthy to be trusted and to help us find our rest and direction in Him.  Where are you in your "trust journey" with Him today?  Could you use prayer or encouragement to trust Him more?  If so, let us know, as we would love to pray with you.