Don't like to read, watch the video here: Video

Hey everyone, welcome back to another Idaho Falls market update. I’m Cody Wohlschlegel with CW Real Estate, and as always, I’m here to go over this month’s numbers, talk about interest rates, and show you some real-world examples of recently sold homes.

This month is a little tricky to predict, so I’m not going to make any bold claims just yet. Some of the numbers look surprising, and I think we need to see next month’s data before we can say if there’s a real shift happening in the market. Let’s get into it.

Home Prices Are Up – But What Does It Mean?

Home prices are up 7% year-over-year on a 12-week chart, which is a bigger jump than I expected. With the way some of the other numbers look, this increase seems a little out of place. That’s why I want to wait for another month of data before making any calls on what’s happening long-term.

Recently Sold Homes – Low, Median, and High

Here’s a look at what sold last month:

• Lowest Sale – $200,000 for a 2 bed, 1 bath, 998 sq. ft. home built in 1950 on 0.31 acres. It was in decent shape for the price.

• Median Sale – $430,000 for a 3 bed, 2.5 bath, 2,835 sq. ft. home built in 1995 on 0.31 acres. It had nice wood floors, solid cabinets, and countertops that were a little dated but still looked good.

• Highest Sale – $920,000 for a 5 bed, 5.5 bath, 6,762 sq. ft. home built in 2013 on just over an acre. It had a great view out back and a nice primary suite.

Market Activity – What’s Moving and What’s Not

This month’s stats are a little all over the place.

• New listings are up 75% from December, which is a big jump.

• Pending sales are also up 71%, which tells me we could see closings rebound next month.

• Closed sales are down 25%, which is the lowest number of closings I’ve seen in a long time.

One of the biggest things I’m watching is months of inventory—basically, how fast the market is turning over. The one month average is at 5 months for the first time in many years. Five months, means we’re looking at a more balanced market where buyers and sellers have equal negotiating power. Right now, the four-month average is still at three months, so we’re still in a seller’s market overall. We will have to see next month if this trend continues.

Price Trends and Inventory Shifts

• New listing average price: $477,000 (up from $451,000 last month)

• Median sold price: $425,000 (up from $395,000 last month)

• Homes under $200,000: Only two, and they were both mobile homes

• Homes under $300,000: Only 20 available available (this number is down, meaning less supply in that price range)

• Homes in the $300,000–$400,000 range: 91

If you’re looking for something under $300,000, expect more competition since inventory is shrinking in that range.

Days on Market – How Long Are Homes Taking to Sell?

• Average days on market: 67 (up from 52 last month)

• By price range:

o $200K–$400K: 50 days

o $400K–$600K: 65 days

o $600K–$800K: 143 days

o $800K+: 100 days

Higher-priced homes are definitely taking longer to sell right now.

Interest Rates – Where Are They Now?

Rates are still sitting in the high 6% range. I can’t quote exact rates since I’m not a lender, but if you want to see what you qualify for, reach out and I’ll connect you with someone who can give you accurate numbers.

What’s Next?

This month’s data shows some mixed signals. The big spike in pending sales could mean we’ll see closings jump next month, or it could be a one-off. The increase in new listings might also shift things, but it’s too soon to tell if this is a real slowdown or just a seasonal fluctuation.

If you’re thinking about buying or selling, feel free to reach out. I’d be happy to go over your situation and help you figure out the best path forward. My contact info is below.

That’s it for this month’s update. Let’s see what happens in February.

Thinking of moving to Idaho Falls, ID? We can help!

Contact me:

📱Call or Text: 208-520-5361

📅 Schedule a Call: https://bit.ly/3OOSV4F

📨Email: codywohlra@gmail.com

🌐Website: https://youridahofallshome.com

🏠FREE Guides

Sellers Guide: https://bit.ly/49GcILG

Buyers Guide: https://bit.ly/48sev5U

Relocation Guide: https://bit.ly/3UKQJPx

Money Playbook: https://bit.ly/42Hwnsl

🚚📦Thinking of moving to Idaho Falls or in South East Idaho? Fill out this Dream Home Questionnaire to get feedback on the area that's right for you! 👉 https://youridahofallshome.com/buy

💲🏠Thinking of selling your current home? https://youridahofallshome.com/seller-consult

🔍Start you home search now:

Download App:

Website Search: https://bit.ly/40ci27M

📚Learn About the buying process:

Video: https://app.orbit.realestate/v2/preview/cac1RE9RMX2iOGVuHYsd

📚Learn About the selling process:

Video: https://app.orbit.realestate/location/Eb9IhR6GpDdikE5OdMVH/page-builder/eyANxmSLRiOD0lyVsh4u

Follow me on Social Media

👍Facebook: https://bit.ly/3DFnJzY

📸 Instagram: https://bit.ly/3DyY3VN

🎵📱TikTok: @codywohlschlegel

Cody Wohlschlegel REALTOR® | CW Real Estate | Silvercreek Realty Group