Treasure Valley Market Update: February 24

The latest market update is in, and whether you’re a buyer, seller, investor, or renter, staying informed can help you make the best real estate decisions.

Let’s dive into the latest trends in Ada County and Canyon County and break down what they mean for you!

Ada County Market Snapshot

New Listings: 300 (⬆ 45%)
Average Listing Price: $656,315 (⬆ 10%)
Average Sold Price: $625,421 (⬆ 3%)
Total Homes Sold: 202 (⬆ 26%)
Active Listings: 1,499 (⬆ 5%)
Pending Sales: 181 (⬆ 18%)
Months of Inventory: 2.1 (⬆ 6%)

📌 Key Takeaway: More homes are hitting the market, giving buyers more choices while sellers continue to see strong demand and rising prices.

Canyon County Market Snapshot

New Listings: 201 (⬆ 136%)
Average Listing Price: $521,148 (⬇ 3%)
Average Sold Price: $461,766 (⬇ 17%)
Total Homes Sold: 121 (⬆ 48%)
Active Listings: 953 (⬆ 5%)
Pending Sales: 114 (⬆ 18%)
Months of Inventory: 2.4 (⬆ 6%)

📌 Key Takeaway: Prices in Canyon County are slightly lower, which means it’s an excellent opportunity for buyers to secure a great deal before the market picks up in spring.

What This Means for YOU:

🔹 For Buyers: With inventory increasing, there are more options to choose from! It’s a great time to start your search before competition heats up in the spring months.

🔹 For Sellers: Home prices are holding strong in Ada County, and even with a slight dip in Canyon County, demand remains steady. Pricing your home competitively will be key to attracting serious buyers.

🔹 For Investors: Rising inventory levels can present great buying opportunities. With lower prices in Canyon County, now could be the perfect time to expand your portfolio.

🔹 For Renters: With more homes on the market, rental opportunities could expand as well. If you’re considering making the leap from renting to owning, now’s the time to explore your options!

🔹 For Current Homeowners: If you’re not ready to move but want to capitalize on your home’s value, consider refinancing while interest rates are still favorable.

🏡 Need Expert Advice? At House of Palmer, we’re here to help you navigate this changing market. Whether you’re buying, selling, or just exploring your options, let’s chat about your goals!

📩 Reach out today to discuss how these trends impact you. Ready to make a move? We’re here to guide you every step of the way!