As we delve into the intricacies of late November, let's decode the enigma that is the real estate market. From the ever-changing mortgage rates to the bustling scenes in Ada and Canyon County, here's the latest market update.
Mortgage Rates:
First things first, let's talk rates – the heartbeat of real estate. Buckle up for some changes as of Nov 24, 2023:
Ada County
Despite a 9% decrease in new listings, the market remains active. Ada County experiences a 1% increase in average prices, indicating a pause in the upward trajectory of home prices.
Notably, there's an 11% surge in the average sold price, reflecting robust demand and potentially providing sellers with an advantageous position. Buyer activity is unmistakably on the rise with a substantial 28% increase in homes sold.
However, a 5% decrease in active listings suggests a competitive market where properties are swiftly claimed.
On the brighter side, a 2% increase in pending listings signals ongoing market activity and future transactions.
Ada County's inventory stands at 2.2 months, a 4% decrease, maintaining a balanced market poised for both buyers and sellers.
Canyon County
In the context of Canyon County's real estate landscape, each facet contributes a distinct narrative. Despite a 38% decrease, the introduction of 72 new listings adds a layer of intrigue to the unfolding storyline.
The narrative persists with a significant 7% increase in average prices, suggestive of the enduring allure of this county.
A nuanced negotiation emerges with a 7% decrease in average sold prices, presenting strategic opportunities for discerning buyers.
The central plot unfolds with a remarkable 53% surge in homes sold, a testament to Canyon County's evolving storyline and heightened residential activity.
As the inventory undergoes a 5% decrease in active listings, the market suggests a dynamic and rapidly evolving landscape.
While pending listings maintain steadiness with a 0% change, it offers a moment of respite amid the market's perpetual motion.
Canyon County's inventory stands at 2.1 months, witnessing an 11% decrease, underscoring a competitive market and setting the stage for challenges and opportunities alike.
Other Counties
Beyond Ada and Canyon, we have more market stats that include the following counties: Valley, Elmore, Bonneville, Bingham, Bannock, and Madison
In this grand narrative of real estate, House Of Palmer | Idaho Real Estate is your guide. Whether you're eyeing that 'For Sale' sign or contemplating listing your property, let's turn these numbers into your personalized real estate story. Call us at 208.440.6500
