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Welcome back to my monthly market update! This month we’re diving into October’s real estate trends in Idaho Falls. I’ll keep this one quick and straightforward, so let’s jump into the latest on home prices, inventory, and interest rates, along with a few real-world examples.

Home Prices

Starting with home prices, we're looking at a 12-week chart of the median sale price. Right now, prices are up 2% compared to last year. This is inline with seasonal trends. Interest rates, however, have jumped back to around 7%, which isn’t ideal news for buyers, but it's where we're at currently.

Here’s a quick breakdown of this month’s sales:

• Lowest Sale: $166,000 for a 2-bed, 1-bath home (676 sq. ft) on a 0.13-acre lot. This 1947 home has had some updates, though it could still use a bit of finishing work.

  

• Median Sale: $385,000 for a 4-bed, 3-bath home (2,000 sq. ft) on a 0.28-acre lot. Built in 1991, it features some nice upgrades, including black cabinets and a large deck in the backyard.

  

• Highest Sale: $1.5 million for a 5-bed, 4.5-bath home (5,450 sq. ft) on a 0.61-acre lot. Built in 2024 and part of our Parade of Homes, this one offers impressive city views and top-notch finishes.

Inventory and Market Activity

We’re seeing some interesting shifts as we head into winter. Currently, active single-family listings are at 331, down 9% from September, which is typical for this time of year. Inventory tends to drop in the winter as sellers hold off until spring.

Here are some other key stats:

• New Listings: No big change here from September.

• Closings: Up 8% compared to last month.

• Pending Sales: Up 29%—buyers are still active despite rising interest rates.

We're currently at about 2.6 months of inventory for October, or 2.7 months based on a 4-month average. Just for perspective, a balanced market would mean around 5 months of inventory, so we’re still leaning toward a seller’s market.

There are 40 homes under $300k and 77 between $300k-$400k.

Average Days on Market

Here’s how long homes are staying on the market on average, depending on price:

• $300,000–$400,000: 26 days

• $400,000–$600,000: 50 days

• $600,000–$800,000: 73 days

• $800,000+: 70 days

So, if you’re thinking of selling, this can give you a good idea of how long it might take for your home to sell based on its price range.

Final Thoughts

Not a ton of surprises this month. Interest rates have ticked up again, likely due to a mix of factors. We’ll see if that changes as we head into the next few months.

If you have questions or want more info, my contact details are below. And as always, let me know if there’s anything specific you’d like covered in next month’s update. Thanks for tuning in, and have a great October!

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