As we delve into the latest insights from the Treasure Valley real estate market, it's essential to understand the nuances shaping the landscape. In the week of March 3-10, 2024, Ada and Canyon Counties witnessed noteworthy movements, providing valuable insights for buyers and sellers alike.
Ada County:
New Listings: 240 new listings, representing a 9% decrease compared to the previous period.
Average List Price: $651,994, reflecting a modest 1% increase from the previous week.
Average Sold Price: Similarly, the average sold price experienced a 1% uptick, reaching $618,401.
Homes Sold: With 146 homes sold during this period, there was a 19% decrease compared to the previous week.
Active Listings: The number of active listings decreased by 4%, totaling 1,171 properties.
Pending Listings: Pending listings also declined by 13%, with 167 properties awaiting closure.
Inventory: Ada County maintained a 2.0-month inventory, suggesting a balanced market despite fluctuations.
Canyon County:
New Listings: Canyon County experienced a modest 2% increase in new listings, totaling 145 properties.
Average List Price: However, the average listing price decreased by 7%, reaching $484,528.
Average Sold Price: Similarly, the average sold price saw a slight decline of 2%, settling at $422,279.
Homes Sold: The number of homes sold decreased by 34%, with 67 properties changing hands during this period.
Active Listings: Despite the decrease in homes sold, active listings saw an 8% decrease, totaling 677 properties.
Pending Listings: Pending listings in Canyon County increased by 3%, totaling 115 properties.
Inventory: Canyon County maintained a 2.1-month inventory, indicating relative stability in the market.
Expert Insights and Conclusion: The market dynamics observed in Ada and Canyon Counties underscore the importance of staying informed and adaptable. As we navigate through these fluctuations, it's crucial to partner with a trusted real estate advisor who can provide tailored insights and guidance.
At House Of Palmer | Idaho Real Estate, we pride ourselves on offering expert knowledge and personalized support to our clients. Whether you're buying, selling, or investing, let us help you navigate the ever-evolving Treasure Valley real estate market with confidence. Contact us today to learn more and make informed decisions for your real estate journey.