Ada County Housing Update - Resale Only
More Resale Listings, More Homes Under Contract
The spring market is officially underway with buyers and sellers in motion. Over the last several weeks, we have seen an increase in the number of new resale listings compared to this time last year, although still below pre-pandemic levels. Buyer demand remains at a surge level for new resale listings coming on the market, creating a quick action market.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE INTEREST RATES
3.18%
MONTHS SUPPLY SCALE
BACK TO TOP
KEY MARKET INDICATORS APRIL 2024 (MARCH RECAP)
Although the 2022 housing market has experienced a major intensity adjustment, the amount of unsold inventory is currently low in the more affordable and mid-price ranges where more than 80% of sales activity takes place. The start of the new year will be the low point for unsold inventory.
THE CURRENT HOUSING MARKET IS NOT LIKE THE GREAT RECESSION OF 2008
Sales Activity Intensity™ is a John L. Scott Real Estate term that measures the percentage of new resale listings going under contract within the first 30 days on the market. We measure this because the first 30 days on the market is the best opportunity for homes to go under contract at the best price. Higher intensity results in price support and possible price increases. Buyers can look at intensity to see how strong of an offer to put on a property and sellers can use intensity to help determine the strength of their listing price.
Sales Activity Intensity™
Source: RMLS. Data is for Resale only. © 2024 John L. Scott Real Estate