Welcome to our latest market report, analyzing the real estate trends in Ada County and Canyon County for the week of June 5 to June 11. As experts in the local market, House Of Palmer Idaho Real Estate is dedicated to providing you with valuable insights and guidance. Let's dive into the numbers and explore the current state of the market.
Ada County:
New Listings: Ada County experienced a 9% decrease in new listings, with 252 properties entering the market this week.
Average Listing Price: The average listing price in Ada County remained the same as last week at $710,429.
Average Sold Price: The average sold price in Ada County saw a 15% decrease, settling at $573,955.
Homes Sold: Ada County witnessed a significant 27% decrease in the number of homes sold, with 169 properties sold during the week.
Active Listings: The total number of active listings in Ada County increased by 3%, reaching 1,432 properties.
Pending Listings: Ada County experienced a 2% decrease in pending listings, with 191 properties awaiting closure.
Inventory: Ada County currently has 2 months of inventory, indicating a seller's market.
Canyon County:
New Listings: Canyon County observed a 26% increase in new listings, with 126 properties entering the market this week.
Average Listing Price: The average listing price in Canyon County decreased by 6% to $517,952.
Average Sold Price: The average sold price in Canyon County saw a 3% decrease, amounting to $452,470.
Homes Sold: Canyon County experienced a 10% decrease in the number of homes sold, with 94 properties sold during the week.
Active Listings: The total number of active listings in Canyon County increased by 4%, reaching 679 properties.
Pending Listings: Canyon County witnessed an 8% increase in pending listings, with 85 properties awaiting closure.
Inventory: Canyon County currently has 1.7 months of inventory, also indicating a seller's market.
Let's take a mortgage snapshot. If you were to purchase a home in Ada or Canyon County for $500,000, put down 20%, at today's fixed rate of 7.521% on a 30 year fixed It would be a $2,800 mortgage payment +property tax and fees.
*The above calculations for the mortgage payment are based on today's rates and are for illustrative purposes only. Please consult a mortgage professional for accurate and personalized information.
These numbers reflect a mixed picture in the Ada and Canyon County real estate markets. Ada County experienced a decline in new listings, homes sold, and average sold price, which can be attributed to various factors such as market dynamics and buyer-seller negotiations. On the other hand, Canyon County saw an increase in new listings and pending listings, indicating ongoing market activity. The decrease in average sold price in both counties suggests a potential adjustment in pricing trends. It's crucial for buyers and sellers to seek guidance from experts like House Of Palmer Idaho Real Estate to navigate these market conditions effectively.
As the trusted experts in Idaho real estate, we are here to provide guidance and assistance. Whether you're looking to buy, sell, or invest, rely on our expertise to achieve your goals. Contact us today for personalized advice and unparalleled service.
We also track these counties: Valley, Elmore, Bonneville, Bingham, Bannock, & Madison. Contact us today if you would like updates of our surrounding area.
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