Pine Brook Estates Real Estate Newsletter. August 18th, 2025

Welcome to the first Pine Brook Estates Real Estate Newsletter! First things first, a little about me as the author. My name is Parker Stevens and my wife, Ellie, and I are going to begin building our home on our lot on Cypress Loop starting this march. We are incredibly excited to meet you and be your neighbors. Work wise, I am a real estate broker with Realty Quest here in town. I enjoy all things outdoors with my favorite past times being archery elk hunting and fly fishing. If you enjoy either of those two things, I am always down to talk fishing or hunting!

Key Stats for the past 3 months for Pine Brook

• Number of homes currently for sale in the division: 5

• Price per square foot of homes currently listed for sale: $231.29

• Number of vacant land parcels for sale: 2

• Number of homes sold in the past 3 months: 3

• Average sales price of homes sold in the past 3 months: $778,333

• Price per square foot of homes sold in the past 3 months: $211.42

• Average days on market for sold homes: 79 days

• Sold price as a percentage of list price: 96.29%

How do these stats stack up against Rexburg as a whole?

Price per square foot of homes currently for sale in the Rexburg market is sitting at $208.55. This is a full $22.74 per square foot cheaper than Pine Brook. What this means is that Pine Brook as whole tends to bring a premium compared with Rexburg overall.

The average sales price of homes in the Rexburg market for the past three months is $465,962 compared with $778,333 highlighting Pine Brook's status as one of the premier neighborhoods in Rexburg. Average price per square foot of homes sold during the past three months in the Rexburg market is $192.58 compared with $211.42 almost exactly mirroring the list price per square foot difference.

Sold price as a percentage of list price for the Rexburg market the past three months is 97.33% slightly better than Pine Brook but well within month to month variation percentages.

Turnover rate: What is it and what does it mean for the neighborhood?

In real estate, the turnover rate is a percentage that indicates how quickly homes are bought and sold within a specific area. It's calculated by dividing the number of homes (or properties if vacant land is included) sold in a given period (typically 1 year) by the total number of homes in that area, then multiplying by 100. A higher turnover rate generally suggests a more active market which can be better for both buyers and sellers.

There are 124 properties (homes & vacant land parcels) within Pine Brook Estates between Pine Brook 1 and 2. During the past 12 months 10 properties have sold (5 homes and 5 lots)

(10/124) x 100 = 8.06% turnover rate in Pine Brook for the past year.

How does this stack up against average turnover rates? According to national real estate mogul Redfin, the average turnover rate ranges between 2.5% to 5% nationally with 2024's annual turnover rate coming in at 2.5%. This means that the market for the neighborhood as a whole is significantly higher than the national average with market activity remaining strong for Pinebrook.

What's going on with interest rates?

Rates currently remain elevated but have recently hit their lowest level for the calendar year. With exact numbers being at 6.375% for 30 year conventional mortgages and as low as 5.99% for FHA 30 year mortgages! Conventional 15 year notes are currently sitting at 5.625%.

You may wonder will additional drops be seen in september? The answer to this is likely not. Lenders tend to price in rate adjustments BEFORE the actual federal funds rate gets adjusted which means the expected federal funds rate adjustment is already priced into our current rates. If the federal funds rate does not get adjusted in september as expected than rates will surely adjust back up to the tune of 0.25% in all likelihood.

How often will this newsletter be updated?

The plan right now is to update the newsletter every 3 months to keep the neighborhood informed while not spamming your email!

If you have more specific questions regarding the state of the market in Pine Brook or are curious to find out what your home is worth, call or text me at (208) 281- 7258 and I would be happy to help out!