Ada and Canyon County Real Estate Market Update: A Week of Surprises! (Feb 12-18)
Hey there, real estate enthusiasts! It's been another whirlwind week in the Ada and Canyon County markets, and let's just say, the numbers are singing a different tune. So, grab your coffee, and let's dive into this week's market melodies.
Starting off in Ada County, new listings have taken a leap, jumping up 21% to 233 new properties. It seems sellers are coming out of hibernation early, ready to spring into action. However, the average list price took a slight dip of 8%, settling at $662,746. But don't let that fool you; the market's heartbeat, represented by the average sold price, only dropped a modest 2% to $609,454. Now, for the standing ovation: homes sold skyrocketed by 35%! It's clear buyers are seizing the day, but with inventory creeping up by 6% to a 2-month supply, are we seeing a shift?
Over in Canyon County, the narrative took a twist with new listings decreasing by 20% to 106. It appears Canyon is playing hard to get, with the average list price also retreating by 12% to $471,726. The average sold price gently slid down 3% to $438,562. Yet, the spotlight shines on homes sold, which saw a 17% increase. The plot thickens as pending sales dropped by 11%, leaving us pondering the next act with a 2.1-month inventory, also up by 6%.
Comparing Apples to Oranges (or Last Week to This Week): Ada County's burgeoning new listings contrast sharply with Canyon's retreat, painting a picture of Ada's growing confidence. Yet, both counties share a scene of decreased average list prices, suggesting a market recalibration. The surge in Ada's homes sold versus Canyon's steady climb hints at Ada's more aggressive buyer engagement, despite both counties experiencing an uptick in inventory.
With Ada County's market bustling with activity and Canyon County showing signs of a cautious pause, it's an intriguing time for buyers and sellers alike. Will Ada's enthusiastic seller participation continue? Can Canyon entice more listings to match its buyer interest? Only time will tell.
For those navigating these waters, whether buying or selling, the House of Palmer is your steadfast guide through the ever-changing tides of the Idaho real estate market. Remember, in the world of real estate, the only constant is change. Stay tuned for next week's update, and as always, happy house hunting (or selling)!
Contact House Of Palmer | Idaho Real Estate for the latest insights, to buy, sell, or invest. Call us at 208-440-6500.
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