June ADA Market Report

Ada County and Canyon County Real Estate Market Report

Ada County and Canyon County Real Estate Market Report: June 2023

Welcome to the June 2023 real estate market report for Ada County and Canyon County. This comprehensive overview provides valuable insights into the housing market trends in these Idaho counties, including key metrics such as closed sales, median sales price, days on market, pending sales, inventory, and months supply of inventory.

Ada County — Single-Family Homes

Closed Sales: In June 2023, the number of closed sales for single-family homes in Ada County was 773, indicating a 5.5% decrease compared to the previous year. Year-to-date (YTD) closed sales were down by 15.8%, with 3,943 homes sold.

Median Sales Price: The median sales price in June 2023 stood at $545,000, reflecting an 8.0% decline from the same period last year. The YTD median sales price also experienced a significant decrease of 11.1%, amounting to $515,400.

Days on Market: Properties in Ada County spent an average of 120 days on the market in June 2023, showing a notable improvement of 20.0% from the previous year. However, the YTD average days on market increased dramatically by 166.7%, reaching 616 days.

Pending Sales: Pending sales in June 2023 were 996, down by 19.9% compared to the same month in the previous year.

Ada County — Existing/Resale Properties

Closed Sales: June 2023 saw 553 closed sales of existing/resale properties in Ada County, marking a 4.5% decrease from the previous year. YTD closed sales experienced a more significant decline of 22.9%, with 2,508 homes sold.

Median Sales Price: The median sales price for existing/resale properties in June 2023 was $540,000, representing a 5.3% decrease from the previous year. The YTD median sales price showed a more notable 9.0% drop, amounting to $504,950.

Days on Market: The average days on market for existing/resale properties in June 2023 increased by 5.6% year-over-year, reaching 150 days. The YTD average days on market surged by 117.6% to settle at 711 days.

Pending Sales: Pending sales for existing/resale properties were 480 in June 2023, down by 7.9% compared to the previous year.

Ada County — New Construction

Closed Sales: In June 2023, 220 new construction properties were sold in Ada County, showing a 7.9% decrease from the same month in the previous year. YTD closed sales were relatively stable, experiencing a marginal decline of 1.4%, with 1,122 homes sold.

Median Sales Price: The median sales price for new construction properties in June 2023 was $557,500, reflecting a significant 19.2% decrease from the previous year. The YTD median sales price also saw a notable drop of 13.9%, settling at $537,990.

Days on Market: New construction properties spent more time on the market, with the average days on market increasing by 6.3% year-over-year to reach 222 days. The YTD average days on market surged by 187.1% to settle at 918 days.

Pending Sales: Pending sales for new construction properties were 516 in June 2023, down by 28.6% compared to the previous year.

Canyon County — Single-Family Homes

Closed Sales: In June 2023, 417 single-family homes were sold in Canyon County, showing a 6.5% decrease compared to the previous year. YTD closed sales witnessed a more substantial decline of 16.9%, with 2,354 homes sold.

Median Sales Price: The median sales price in June 2023 stood at $405,000, reflecting a 9.0% decrease from the same period last year. The YTD median sales price also experienced a notable decline of 11.1%, amounting to $399,900.

Days on Market: Properties in Canyon County spent an average of 165 days on the market in June 2023, showing a significant increase of 65.0% from the previous year. The YTD average days on market also surged by 169.2%, reaching 1,701 days.

Pending Sales: Pending sales in June 2023 were 743, down by 17.8% compared to the same month in the previous year.

Canyon County — Existing/Resale Properties

Closed Sales: June 2023 saw 259 closed sales of existing/resale properties in Canyon County, marking an 11.9% decrease from the previous year. YTD closed sales experienced a more substantial decline of 27.3%, with 1,232 homes sold.

Median Sales Price: The median sales price for existing/resale properties in June 2023 was $389,000, representing a 7.4% decrease from the previous year. The YTD median sales price showed a notable 8.7% drop, amounting to $379,000.

Days on Market: The average days on market for existing/resale properties in June 2023 increased by 20.0% year-over-year, reaching 152 days. The YTD average days on market surged by 152.6% to settle at 1,948 days.

Pending Sales: Pending sales for existing/resale properties were 216 in June 2023, down by 12.2% compared to the previous year.

Canyon County — New Construction

Closed Sales: In June 2023, 158 new construction properties were sold in Canyon County, showing a 3.9% increase from the same month in the previous year. YTD closed sales experienced a slight decline of 1.4%, with 1,122 homes sold.

Median Sales Price: The median sales price for new construction properties in June 2023 was $434,235, reflecting a 15.9% decrease from the previous year. The YTD median sales price also saw a notable drop of 16.8%, settling at $419,900.

Days on Market: New construction properties spent an average of 519 days on the market in June 2023, showing a significant increase of 193.1% from the previous year. The YTD average days on market surged by 144.7% to settle at 389 days.

Pending Sales: Pending sales for new construction properties were 527 in June 2023, down by 19.9% compared to the previous year.

Conclusion

The real estate market in Ada County and Canyon County displayed a range of trends in June 2023. While both counties saw fluctuations in closed sales and median sales prices, the market remained competitive with varying levels of inventory and days on market.

As the market continues to evolve, it is essential to stay informed with the most up-to-date information. For personalized insights and guidance on your real estate needs.

Copyright © 2023 Boise Regional REALTORS® | Data from the Intermountain MLS as of July 10, 2023

 

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