April 2024 Ada County Market Report

Welcome to your Ada County Real Estate Market Report for April 2024! This month has seen significant shifts in various aspects of the housing market, from median sales prices to inventory levels and days on market. Let's delve into the data and uncover the latest trends shaping the real estate landscape in Ada County.

Ada County Median Home Sales Price:

After a notable $30,000 month-over-month spike in the previous period, the single-family median sales price in Ada County experienced a slight slowdown but still increased by $1,500 since March. Resale homes, meanwhile, saw a decrease of nearly $2,000 compared to March 2024, recovering slightly from previous hikes.

Boise Homes Sold:

The Spring season kicked off with a strong start as Ada County saw an increase of approximately 100 home sales compared to the previous year. Notably, new builds reached their highest sales counts in April since March 2023, with a total of 324 sales.

Pending Ada County Home Sales:

April 2024 marked a resurgence in pending sales, reaching levels not seen since June 2022. Resale pending sales outshined all months since May 2022, recording an increase of 120 new contracts since March 2024. This surge in pending sales indicates heightened buyer interest and activity in the market.

Boise Available Homes Inventory:

The real estate market in Ada County experienced a significant year-over-year jump in inventory, with April 2024 marking the strongest increase (+19.9%) since March 2023 (+89.3%). With a spike in pending contracts, home sales, and market speeds, this increased inventory comes as a welcome development, providing more options for buyers.

Days on Market in Ada County:

Market speeds for single-family homes accelerated to levels reminiscent of Summer 2023 this month. Resale homes experienced a remarkable reduction in days on market, shrinking beyond what has been seen since June 2022, with just 14 days on the market. Additionally, new builds sold 8 days faster in April compared to March, indicating brisk demand in the market.

Bottom Line: The Boise Real Estate Market is Still Simmering!

April 2024 has brought about notable changes in the Ada County real estate market, with shifts in median sales prices, home sales, pending sales, inventory levels, and days on market. Despite the slight slowdown in median sales price increases and the recovery of resale homes from previous hikes, the market remains robust, with strong sales activity and accelerated market speeds. Increased inventory provides buyers with more options, while sellers benefit from quicker transactions. As you move forward in your real estate journey, it's essential to monitor these trends closely to navigate the Ada County housing market effectively.

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

All Ada County Market Statistics - April 2024

April 2024 Ada County Market Report Statistics

April 2024 Ada County Market Report Statistics

April 2024 Ada County Market Report Statistics