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.
With the holidays just around the corner and cooler temperatures finally hitting the Treasure Valley, the latest PTC index lands at 233 points – a month-over-month change primarily driven by declines in new and existing home sales volume and refinance activity.
New home sales in September posted a decline of about 14 percent from August but are on par with volume from this time last year.
In September, existing home sales experienced a decline of 10 percent from the preceding month and an almost eight percent drop compared to the previous year.
A bright spot this month were building permit filings, which increased by nearly 18 percent from the month prior. Compared to a year ago, they are up a whopping 441% signaling a semblance of confidence amongst builders as we head into the final stretch of 2023.
Lastly, the average sales price for homes in the Treasure Valley sits at $563,275, a less than one percent drop from last month’s average sales price. The average sales price for homes in Ada County is $655,004 and Canyon is $471,545.
Be sure to visit PTCIndex.com for full 10-year historical data.
