Boise Regional REALTORS® keeps members informed of what’s happening in the local real estate market with our monthly reports and weekly market updates.
For easy reference, we’ve compiled commonly used metrics and terms, as well as their definitions, on this page.
| % OLP Received | Percent of Original List Price Received is also commonly called the Original List-to-Sell ratio. If the percent of the original list price received is above 100%, then the home sold for more than the original list price. If it is less than 100%, then buyers paid slightly less than asking through a lower accepted offer, price reductions, or seller concessions. BRR commonly reports the average Percent of Original List Price Received for all home sales in a month or a specified period of time. |
| Average List Price | The average list price is found by adding current prices of all homes listed on the Intermountain MLS with an “Active” status and dividing it by the total number of available listings. Subject to being skewed by individual properties that are listed at extremely high or low prices. |
| Average Sales Price | The average sales price is found by adding prices of all sold homes and dividing it by the total number of homes sold. Subject to being skewed by individual sales that are sold by extremely high or low prices. |
| Days on Market (DOM) | The number of days between the date on which the property is listed for sale on Intermountain MLS to the date when the seller has signed a contract for the sale of the property. |
| Existing Homes | Properties that have been previously owned and are being resold to subsequent owners. Also commonly referred to as “resale.” Existing homes have an age listed in the Intermountain MLS of < 1 Year through 81+ Years. |
| Median Sales Price (MSP) | The median sales price is the center-most data point between the lowest sold price and highest sold price. This is the preferred sales price reported by BRR as it isn’t skewed by individual sales that are sold for extremely high or low prices. |
| Month-over-Month | These metrics are based upon a direct comparison of two consecutive months (i.e. June 2021 compared to July 2021). This metric is less valuable than year-over-year comparisons as fluctuations between months are common and may be seasonal. However, multiple month-over-month changes can be an early indicator of changing trends. |
| Months Supply of Inventory | Months Supply of Inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales price. MSI is calculated by dividing the current month’s inventory by the number of sales in the last 12 months. |
| Pending Sales | Properties with an accepted offer that should close within 30-90 days. |
| Sales | The total number of properties with a “Sold” status in the Intermountain MLS for a given time. |
| Single-Family | Includes detached single-family homes with or without acreage, as classified in the Intermountain MLS, and do not include activity for mobile homes, condominiums, townhomes, land, commercial, or multi-family properties. |
| Year-over-Year | These metrics are based upon a direct comparison of the same time period from the corresponding year before (i.e. June 2020 compared to June 2021). |
Looking for current analysis? Here are links to the market resources from BRR: