After several consecutive months of declines in the categories that comprise the PTC Index, August brought some promising marketing trends within the Treasure Valley real estate market. Thusly, the latest Index posted a 14-point increase from the month prior landing at 255 points.
New Home Sales
New homes sales in August were up 12.3 percent from July 2022.
Existing Home Sales
Existing homes sales in August climbed 5.9 percent versus July 2022.
Building Permits
Building permit filings were down in August by eight percent versus the month prior and were down 43.8 percent from a year ago.
Average Treasure Valley Sales Price
The August average sales price for Ada and Canyon Counties remained relatively unchanged at $591,377 – a increase of nine percent from a year ago. Looking at each county separately, the average sales price for Ada County landed at $675,466 which is the second consecutive monthly decline from a high of $708,428 earlier this summer. Meanwhile, Canyon County’s average sales price was a healthy $507,288.
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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.