Ada County December Resale Market Report


Dive into the pulse of Ada County's real estate scene in December 2023, where every detail unfolds a story for eager homebuyers. The market, resilient despite a slight Median Sales Price (MSP) dip, has held strong above $517,000 since December 2022. Amidst a slowdown in sales, new constructions illuminate the path with a surge in contracts, providing a silver lining in the real estate clouds. Shrinking inventory puts pressure on decision-making, particularly for homes priced between $200,000-$400,000, where a swift 30-day average on the market beckons prospective buyers. Navigate the competitive Boise property market with these crucial insights for a successful real estate journey. Read below for more information and discover the key factors shaping Ada County's real estate landscape.

Median Sales Price (MSP) -December 2023 witnessed a positive shift in the year-over-year scales as a home built in 2019 was successfully sold for an impressive $3.7 million. Despite the significant sale, the Median Sales Price (MSP) hasn't dropped below $517,000 since December 2022. However, there was a slight $13,000 decrease compared to November 2023.

Homes Sold -The real estate market experienced a slowdown in pending contracts, which eventually caught up to the sales sector in December 2023. Sales slipped across all three sectors year-over-year.

Pending Sales -

On a brighter note, new construction witnessed a substantial increase in signed contracts during December 2023, indicating a positive trend in this segment.

Inventory -
December 2023 saw a noticeable decline in inventory across the board, leaving Ada County facing a deficit in demand. This shortage is evident in this month's Months' Supply of Inventory (MSI). Comparatively, just three months ago (September), the inventory for resale was nearly double the current levels.

Days on Market -
Homes within the $200,000-$400,000 price range demonstrated a quicker sales pace, averaging 30 days on the market. In contrast, homes priced at $1,000,000 and above took an average of 41 days to sell. In conclusion, December 2023 saw fluctuations in Ada County's real estate market. Despite a slight MSP dip, a $3.7 million home sale showcased market resilience. Inventory constraints led to reduced MSI, emphasizing the need for timely information. Staying informed and understanding market dynamics, especially the impact of higher-dollar sales, is key for confident decision-making in Ada County's evolving real estate landscape. Whether buying, selling, or investing, staying informed positions you for success in this dynamic market.






Bottom Line -
In conclusion, December 2023 saw fluctuations in Ada County's real estate market. Despite a slight MSP dip, a $3.7 million home sale showcased market resilience. Inventory constraints led to reduced MSI, emphasizing the need for timely information. Staying informed and understanding market dynamics, especially the impact of higher-dollar sales, is key for confident decision-making in Ada County's evolving real estate landscape. Whether buying, selling, or investing, staying informed positions you for success in this dynamic market

If you're contemplating buying or selling a property in Boise, Idaho, it's critical to partner with an experienced real estate professional to navigate the current market dynamics. At Templeton Real Estate Group, our team of experts is equipped to provide the guidance and support necessary to make well-informed decisions tailored to your unique situation. Get in touch with us today to discover how we can help you achieve your real estate objectives in the competitive Boise property market.

Call or Text 208-473-2203