The real estate market in Treasure Valley has demonstrated remarkable consistency compared to this time last year, with the PTC Index landing at 277 points. Despite some fluctuations in specific sectors, the Treasure Valley real estate market has maintained consistent buying activity compared to this time last year. The significant increase in building permits and new home sales, coupled with a steady rise in average sales prices, indicate a resilient market with sustained interest from buyers and builders alike.
New Home Sales…
New home sales continued their upward trajectory, increasing by 5.8 percent in June compared to the previous month. Year-over-year, new home sales have risen by 15.9 percent.
Existing Home Sales…
Existing home sales experienced a decline. June saw a 15.1 percent decrease from May, and a 14 percent drop compared to June 2023.
Building Permits…
Building permit filings saw a significant increase in June 2024 – they were up by 23.3 percent compared to May 2024, and an impressive 110.8 percent compared to June 2023. This surge indicates strong builder confidence and a robust outlook for new construction in the coming months.
Average Treasure Valley Sales Price…
For the fourth consecutive month, the average sales price for homes in Treasure Valley increased again by about two percent in June compared to the previous month and saw a four percent rise year-over-year landing at $554,233.
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.
Be sure to visit PTCIndex.com for full 10-year historical data.
