Ada County Housing Update - Resale Only
Intensity Spike
We saw a favorable spike of intensity in the market in January. Although fewer new resale listings and fewer homes went under contract, this is a stark contrast to what is happening in the market. For new listings priced up to $500,000, there was a very strong Sales Activity Intensity™ with some multiple offer situations; this represents 59% of sales activity. There was a strong level of sales activity intensity up to $1 million, representing another 34% of sales activity.
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 FEBRUARY 2023 (JANUARY 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
We are experiencing a shortage/low level of unsold inventory. We see this in the more affordable and mid-price+homes where approximately 80%+ of sales activity occurs. After the first of the year, we saw an increase of one+ level of hotness of Sales Activity Intensity™ for new resale listings going under contract within the first 30 days. Starting pre-summer, intensity mellows more new listings coming onto the market. Remember, it’s okay to buy and sell within the same market timing.
Current housing market
