In the midst of the post-holiday haze, where calendars blur, and the days meld into an the abyss, we dared to peek into the real estate scene during what we would claim is the slowest week of the year. Take a look at 2023's last market update.
Ada County
Ada County, in its end-of-year slumber, witnessed a mere 74 new listings, down a staggering 51%. It seems the notion of house hunting during this time is as rare as a coherent conversation on what day it is.
However, in the spirit of unpredictability, the average list price decided to go against the tide, joyfully leaping up by 7% to $660,433. Alas, the average sold price did a little year-end waltz, dipping by 7% to $557,263. With 106 homes closing, a 20% decrease, it appears even the houses themselves were in on the holiday hibernation.
The active listings decided to join the slumber party, down 9% at 1,321, while pending listings took an 18% siesta at 99. As for the inventory, it also decided to catch some Zs, down 9% at a cozy 2 months.
Canyon County
Meanwhile, in Canyon County, a mere 32 popped up, down a whopping 62%! It seems even the houses opted for a holiday escape. The average list price, however, chose to defy gravity, soaring 12% to $519,794. The average sold price, much like a stubborn holiday decoration, decided to stay the same at $464,057.
With 50 homes finding new owners, down 36%, it appears the buyers were on a slow-motion scavenger hunt. Active listings, went down 6% to 760, while pendings tried to keep the energy alive at 56, a 28% decrease. The inventory, mirroring the general holiday sentiment, remained at a serene 2 months.
As we bid adieu to this whimsical week in real estate, the graphic below offers all the stats not only to Ada and Canyon but the surrounding counties - Valley, Elmore, Bonneville, Bingham, Bannock, and Madison County. House of Palmer |Idaho Real Estate remains your guide through all seasons, ready to navigate the unknown days and guide you through the maze of real estate possibilities. Stay tuned for more tales from the real estate crypt in the coming weeks!
