The PTC Index is a monthly measurement of the vibrancy of the Treasure Valley real estate market. Based on a custom-weighted algorithm, it combines nine critical measurements of the real estate market into a single, useful number: the PTC Index.
After what has felt like the winter that would never end, Spring has (shyly) sprung in the Treasure Valley, and the real estate market is finally starting to pick up with this month’s PTC Index landing at 262 points.
New home sales numbers in March 2023 increased over 18 percent from February’s volume. Compared to a year ago, they are also up by about 22 percent.
Along with new construction, existing home sales also increased in March versus February by 18 percent and are mostly inline with sales numbers from a year ago.
Building permits were this month’s standout with 284 filings, representing a 109 percent increase over February. Compared to March 2022, they are down just 20 percent.
The average blended March sales price for homes in Ada County and Canyon County landed at $522,908, a slight increase of one percent from last February. Ada and Canyon Counties went up in their average sales price of homes, with Ada at $597,686 and Canyon at $448,130.
Be sure to visit PTCIndex.com for full 10-year historical data.
