As I shared last week on the blog, the reality of the Boise real estate market and life in general during COVID-19 has been emotionally exhausting, so I’ve turned my attention to finding opportunities for growth and gratitude in what feels like the new normal. I’m finding that the less I focus on what I “should” be doing and feeling right now, the better I feel. That’s why this post isn’t about what you “should” be doing. It’s about the meaning I’ve found in this moment.
First, I wanted to give you all an update on the Boise real estate market. March is normally when people list their resale homes, anticipating strong spring demand. This March was certainly unusual, with an 86% increase in resale inventory!
Many homeowners might think property values are at their peak, especially with the uncertainty of COVID-19. They may not want to see their properties decrease in value and the net equities diminish. Whatever their reasons, the sudden increase in resale listings is a welcome positive for a real estate market starved for inventory. That said, we still have only 45 days of inventory available, 30 days immediately ready for occupancy.
What happens to upward pressure on prices? It’s too early to tell, but even with the recent surge in listings, there are precious few properties for buyers to choose from. The best indicator of future pricing may be the drop in the number of pending contracts compared to the number of available housing units. As of the end of March this year, there were 599 pending contracts compared to 754 at the end of last March, a decrease of 26%.
A good statistic to watch as the Boise real estate market develops is the ratio of pending units to inventory units. Last March we had 1615 pending units to 1475 of inventory units, or a factor of 109.5%. At the end of this March, we had 1518 pending units to 1480 inventory units, or a factor of 102.6%. This year was lower, but not drastically so. We’ll continue to watch how this statistic develops by the end of April and beyond.
Loving on Local
As a family, we always aim to support local businesses, and it’s so important, especially now when we’re looking for some feel-good moments. The small business of Boise depend on our support right now, and that impact is so meaningful to me. Just last Friday, I ordered Cadbury Egg cookies from Chip for my girls as an end-of-the-week treat. Having something to look forward to really injected joy into our day, now that weekends blur into days of the week. These are some places we’ve been ordering from:
- Madhuban Indian Cuisine has been our go-to for comfort food this week. We’ve ordered it twice! I personally love the chicken tikka masala, chicken korma, garlic naan and kofta curry.
- Petite 4 was one of the first of our favorite restaurants to close for the duration of COVID-19. They’re quietly bringing back their famous Bleubird menu through a pop-up announced through their newsletter. The menu sells out fast! Email email@example.com to stay in the loop.
- After the Chip cookies and Indian food, our family needed some greens, so we’ve also been ordering delivery from Boise Juice Co. Their six-packs hit the spot.
- Because I am still working, I want to avoid public places whenever possible so that I don’t further increase my risk of getting myself or anyone else sick, so I’ve had my groceries delivered via InstaCart. The Boise Co-Op is also working on a curbside pick-up program. Be sure to wipe down and disinfect your deliveries when they arrive, as well!
- Katy at Figgy Bakes posts the most beautiful desserts on her Instagram page. We’re ordering her vegan lemon almond coconut cake jars as a special Easter treat!
- Tin Box is another IG order option we love. Their page and plant-based meals are colorful and fresh.
- Table Rock Mobile Medicine is also still making house calls for those of you feeling unwell and unsure about venturing out.
- The Boise Farmers Market announced they’ll be doing a drive-thru market this weekend. While spots are sold out, follow their social media accounts and sign up for their newsletter to get on the list for next Saturday. Their website also offers a local food locator!
Parenting as We Process
My husband and I both work full-time and have two children who are now out of school for the rest of the year. We’re weathering the changes in at-home learning as the kinks are worked out, as I’m sure many parents are. However, I’ve also noticed something different about the way we’ve been interacting as a family. Since self-isolating, our kids’ large community of friends, teachers and neighbors that they normally see on a regular basis has shrunk down to just us. Not seeing their friends has been hard, no doubt, on them, but it’s also helped us connect on a deeper level.
Before this pandemic, our kids went to school, we went to work, we crossed paths in the afternoon and evening, but we were more like ships passing in the night. We’re seeing a different side to our children now, and I hope, they’re seeing a different side to us. As we process the emotions of our situation, I’ve seen how it allows us to access a deeper level of our relationship We’re having more emotional conversations and being more present with each other. This period of time, as uncertain as it may be, has given us more space to look inward. If we can quiet the chaotic noise of the global situation, I think we can all find some peace and meaning.