At 205 points, the latest PTC index dipped from last month’s 233 points as the Treasure Valley real estate market trend typically begins to slow going into winter.
New Home Sales
New Home Sales in October fell slightly by about four percent. Compared to twelve months ago, however, they are down about 14 percent.
Existing Home Sales
Existing Homes sales also posted a loss in volume of nearly 15 percent versus September. Compared to a year ago, they are also down about 17 percent.
Building Permits
Building permits also experienced a decline this month with filings down about 25 percent. Compared to a year ago, though, they are up an astonishing 316 percent.
Average Treasure Valley Sales Price
Lastly, the average sales price for homes in Treasure Valley sits at $546,288, a minor decrease of three percent from last month – compared to October 2022, the average sales price is down nearly five percent. Ada County’s average sales price is $640,230, while Canyon County’s average is $452,346.
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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.