January 2024: National Media Headlines…
…will have you believing the real estate market is soft, but as we all know, different areas, cities, counties and price points all have their own story to tell. One area maybe suffering or stagnant, and another, close by, is getting multiple offers!
Here in the Treasure Valley we have excellent statistics, tracked monthly, all available for the asking!
In summary, the Boise Market, and Ada County in General, are Booming!
Currently, February 2024, the lower-end price points are once again seeing multiple offers! Not Covid Crazy style, but multiple offers are back…
I am posting a couple of charts from our January 2024 Regional Sales Statistics; as you can see our market is strong.
The above images give you a snapshot of the sales stats for January 2024. Despite the high interest rates of 2023, Ada County had yet another strong real estate year.
The Key Take-a-way Here, from these charts, is the ‘Months of Inventory Available’ (or lack thereof)….
Our sales are down, as the available inventory is down! Over the past few years, the Boise area has struggled to have inventory meet buyer demand. As such, we are still in a Sellers market! So what’s to come? With interest rates dropping, and as we move into the Spring, we expect to see both an increase in Sellers and Buyers. However, expect to see a continued strain on inventory, especially in the resale market, as owners continue to choose to hold on to their amazingly low fixed mortgage rates.
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I have a lot more stats for both Ada and Canyon counties to share. Therefore, if you have an interest in seeing specific stats on an area of interest to you, feel free to drop me a note and I will happily share the current local sales and inventory statistics. Just let me know your area of interest; i.e. you may want to look at your immediate neighborhood, immediate area, new construction or resale, price point, a specific ZIP code, home size…etc. Once I know your specific areas of interest, I can email you the data, month over month, year over year…
I have lots of resources and information to assist you with your buying, selling, investing or renovation goals. So always feel free to reach out to me regarding all things real estate, and I will do be best to be of assistance! Susan.