March 2024 Ada County Market Report

Are you ready for some exciting news? The real estate market in Ada County is on fire! March 2024 has marked a historic moment with jaw-dropping leaps and bounds that are making waves across the county. Let's dive into the details and uncover what's causing all the buzz.

Ada County Median Home Sales Price

Hold onto your hats because we're about to reveal some astonishing figures. The last time Ada County saw such a significant leap in median sales price was back in March to April 2023, with a remarkable $32,500 increase. But guess what? February to March 2024 shattered records with an eye-popping jump of $33,000! And if that wasn't impressive enough, resale properties saw an unprecedented hike of $56,800, marking the greatest month-over-month jump in Ada County's history. It's clear that the real estate market is reaching new heights.

Boise Homes Sold in March 2024

If you thought the median sales price was impressive, just wait until you hear about the number of homes sold. March 2024 saw an increase of over 100 closed contracts compared to the previous month. That's right – more homes are changing hands, indicating a thriving market. What's more, this month's sales figures are comparable to the bustling months of April and October 2023. It's a testament to the robustness of the Ada County housing market.

March 2024 Pending Home Sales In Boise Idaho

But wait, there's more good news! Pending sales have spiked to the highest frequency seen since August 2022. The heat in the resale market for March 2024 nearly reached summertime temperatures, with a staggering 478 signed contracts – reminiscent of the hustle and bustle of July 2023. It's clear that buyers are eager to secure their dream homes, driving up demand across the county.

Ada County Real Estate Inventory March 2024

With all this buying activity, you might be wondering about inventory levels. Well, you'll be pleased to know that options have rebounded to pre-winter counts, surpassing the selection available in March 2023. While inventory did dwindle slightly compared to February 2024, consumer consumption of new builds eased slightly, indicating a healthy balance between supply and demand. Whether you're searching for a cozy starter home or a sprawling estate, there's something for everyone in Ada County.

Days on Market For Homes in Boise Idaho

In the fast-paced world of real estate, timing is everything. Existing homes went under contract a whopping 8 days quicker than the month prior, showcasing the swift pace of transactions. Even new construction speeds eased by 14 days, indicating a streamlined process for buyers and sellers alike. However, it's worth noting that there were 16 new builds that remained on the market for longer than 200 days in March 2024. While most properties are flying off the shelves, some gems are still waiting to be discovered.

Bottom Line: Now Is a Great Time To Sell Your Boise Home!

March 2024 has been a record-breaking month for the Ada County real estate market. With soaring median sales prices, increased home sales, and high levels of pending sales, it's clear that the demand for housing in Ada County is stronger than ever. And with a rebound in inventory and quicker days on the market, both buyers and sellers are reaping the rewards of this vibrant market. So whether you're in the market for a new home or considering selling your property, now is the time to seize the opportunity in Ada County's booming real estate 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.

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All Boise Area Real Estate Market Statistics March 2024

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