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ADA COUNTY
MEDIAN SALES PRICE —
- With pending contracts up and inventory down MOM for resale, affordability took a $10k hit in Sep.
- Of the 716 homes sold in Sep, 55 of them were sold for more than $1 million with an average DOM of 34.9 days.
HOMES SOLD —
- The oldest home sold in Sep was a 3,873 sq. ft. home built in 1900 and was pending in under 10 days.
- New construction was Sep's shining star for closings, surpassing Sep 2023 by 90 closed sales.
PENDING SALES —
- Pending contracts are the best way to tell what the current market is doing while sold data reflects how the past 60-90 days performed.
- Sep showed warmth for the current market with MOM increases in all sectors.
INVENTORY —
- Townhom Inventory shrank across the board in Sep.
- With less options and an increase in pending activity, it is no wonder that we saw a MOM boost in resale's MSP.
DAYS ON MARKET —
- Market demand had no impact on speeds, however. Lengthened DOM created the right circumstance for Ada's MSI to keep steady in Sep.
"The market remains vibrant, highlighted by new construction outperforming last year. With 716 homes sold, including 55 over $1 million, it's clear that demand continues to drive prices, despite an increase in Days on Market." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
CANYON COUNTY
MEDIAN SALES PRICE —
- New build's MSP argues with other market trend data. With lower sales (pending and closed), we would've expected a similar or lower MSP from the previous month but inventory drops pinched pricing for the month.
HOMES SOLD —
- While MOM and YOY comparisons don't seem earth-shattering, we've made significant headway in single-family sales counts from late 2023 to early 2024 (as low as 256 units).
PENDING SALES —
- Canyon's pending and closed sales have been a trend rollercoaster since May 2024.
- Existing home's pending sales nearly doubled since Sep 2023 (189 signings).
INVENTORY —
- With a dip in sold units and pending contracts, Sep's new construction inventory slip means there was a slight slowdown in new units coming on the market. This marks the first MOM slide in inventory since Feb 2024.
DAYS ON MARKET —
- With the combination of inventory and market speeds, Canyon's MSI is the closest it's been to a "balanced" since Nov 2015. Since then, the market has been increasingly starved for supply.
"We're nearing a balanced market for the first time since November 2015, a positive sign for buyers and sellers alike. As power equalizes for both sides of the transaction, it becomes increasingly important to work with a REALTOR® who can help you navigate." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
To view the Treasure Valley homes currently for sale, CLICK HERE
