Windermere Real Estate Chief Economist Matthew Gardner has provided an analysis of select counties in the Idaho real estate market. This information can be helpful in making informed decisions about real estate. If you need more information about the housing market in your area, please reach out to your bargainhousenetwork.com Real Estate agent.
In the third quarter of 2023, a total of 4,945 homes were sold in Idaho. This marked a decrease of 6.2% compared to the third quarter of 2022 and a 2.7% decline from the second quarter of this year.
During the same period, listing activity saw a significant increase of 11.3% compared to the second quarter of the year. This surge in listings seemed to have a positive impact on sales across most market areas.
When comparing sales to the same quarter in 2022, a decline was observed in all northern counties covered in this report. However, in the Southern Idaho markets, only Canyon and Blaine counties experienced a decrease in sales. On the other hand, when compared to the second quarter of this year, sales rose in all markets except for Boundary County in Northern Idaho and Canyon, Gem, and Ada counties in the southern part of the state.
Furthermore, pending sales in the third quarter were lower than those in the second quarter of 2023. This suggests that sales may slow down in the final quarter of the year.