As we start 2023, we wanted to provide our members with a look back at the state of the housing market in Idaho and across the nation last year. We hope that these resources will be helpful as you begin the new year and continue to grow your real estate business.
In November 2022, the housing market in Idaho saw home prices decrease by 0.45% year-over-year, with a median price of $464,500. The number of homes sold also decreased by 40.5%, with 1,529 homes sold in November 2022. The median days on the market increased by 27 days to 52. The number of homes for sale in Idaho increased by 7.8% year-over-year to 6,852 homes, while the number of newly listed homes decreased by 38.2% to 1,185 homes. The months of supply increased by 2 to 4 months. 10.5% of homes in Idaho sold below list price in November 2022, a decrease of 11.9 points year-over-year. The sale-to-list price was 97.1%, down 1.7 points year-over-year.......