February 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• February 2023
• February 2024

• February 2023
• February 2024

In February 2024, single-family homes sold for nearly $10,000 more than January 2024 and almost $30,000 compared to February 2023.

Days on Market

• February 2023
• February 2024

• February 2023
• February 2024

While it may be expected for higher-priced homes to sit on the market longer, the 44 homes sold for more than $1 million stayed only slightly longer than the overall average (51 days compared to 49 days).

Inventory

• February 2023
• February 2024

• February 2023
• February 2024

The spike in inventory has us drooling. While we saw an uptick in Median Sales Price (likely due to overall market warmth), the increased options give buyers variety in the market. We’re still in a seller’s market but there’s room for negotiation.

CANYON COUNTY

Median Sales Price ($)

• February 2023
• February 2024

• February 2023
• February 2024

As inventory slipped away quicker and the average mortgage rate hovered below the 7% we saw in late Fall 2023, a resulting hunger likely caused this month's $10k bump in single-family home MSPs.

Days on Market

• Single-Family Homes
• Existing/Resale
• New Construction

• Single-Family Homes
• Existing/Resale
• New Construction

The market has cut its wait times nearly in half compared to early Spring 2023.

Inventory

• Single-Family Homes
• Existing/Resale
• New Construction

• Single-Family Homes
• Existing/Resale
• New Construction

Resale carried the weight in inventory rebound, adding 30 homes to the pile while new construction options decreased by 14 homes.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS