ADA COUNTY
MEDIAN SALES PRICE —
- The single-family MSP took a break from its $30k MOM spike last month but still bumped up $1.5k since Mar.
- Resale homes recovered slightly from MOM hikes in Apr, easing by nearly $2k compared to Mar 2024.
HOMES SOLD —
- We're up by about 100 home sales in Ada County compared to the previous year, a strong start to the Spring season.
- New builds had the highest sales counts in Apr since Mar 2023 (324).
PENDING SALES —
- Ada County hasn't seen this frequency of pending sales since Jun 2022.
- Apr's resale pending sales outshined all months since May 2022, up by 120 new contracts since Mar 2024.
INVENTORY —
- Apr 2024 marked the strongest YOY jump (+19.9%) since Mar 2023 (+89.3%).
- With a spike in pending contracts, home sales, and market speeds, increased inventory is a welcome friend.
DAYS ON MARKET —
- Single-family market speeds accelerated to Summer 2023 speeds this month.
- Resale's DOM shrank beyond what we've seen since Jun 2022 (14 days). New builds sold 8 days faster in Apr compared to Mar.
A MESSAGE FROM BRR'S PRESIDENT —
"April experienced a seemingly balanced boost to all areas of the market: while market demand increased, so did the available number of homes. We're excited to see the uptick in both buyer and seller activity."
~Elizabeth Hume, Boise Regional REALTORS® 2024 President
CANYON COUNTY
MEDIAN SALES PRICE —
- Single-family homes added approx. $16k to their MSP from Mar to Apr 2024, up $40k from Apr 2023.
- New builds carried the most weight for MSP shifts, boosting by $20k from Mar to Apr 2024.
HOMES SOLD —
- In the past year, the only month we've seen >420 home sales was Aug 2023 with 435 closed contracts.
- There was a 60-home hike in MOM sales for resale and 11-home slide for new builds.
PENDING SALES —
- New resale contracts haven't been this hot since May 2022 at 297 newly signed contracts.
- On the contrary, new build trends have been back-and-forth since Jan.
INVENTORY —
- Apr showed a much-needed recovery of inventory, nearing the selection we had prior to the initial spike of interest rates (Oct 2022 at 7.08%).
- Like Ada, new inventory is combatting market demand.
DAYS ON MARKET —
- DOM for Canyon County have remained unchanged for the past 3 months.
- Canyon's new build DOM was the only sector in BRR's jurisdiction to experience a MOM slow-down.
A MESSAGE FROM BRR'S PRESIDENT —
"While availability between new construction and resale are nearly identical, trends for each sector remain unique due to price point and consumer desire."
~Elizabeth Hume, Boise Regional REALTORS® 2024 President
To view the Treasure Valley homes currently for sale, CLICK HERE
