We’re starting to see some consistency in the trends for the first quarter of 2024. A total of 52 homes have been sold in the New Meadows, McCall, Donnelly and Cascade areas (January through March). In 2023, a total of 59 homes were sold in quarter one. Overall, those sales numbers are down but only by 7 units total.
Comparing March 2022 to March 2024, the median price for Cascade looks like a drastic drop but there were a few small cabins and mobile homes sold that brought the median down. Meadows Valley has not seen enough sales to be included in this month’s trend report:
PRICES:
Prices remain somewhat soft as we are starting to see more negotiating from buyers. Percent of list price received is around 95%. As we see more units available, prices may become even more sensitive.
INVENTORY:
Inventory across our communities is trending up. We’ve seen a 36% increase overall, with 142 units available now, compared to 104 units available this time last year.
LOOKING AHEAD:
The general consensus is that buyers who need to finance are waiting to see if the Federal Reserve lowers rates. If this does happen, we may see a strong increase in demand from those who’ve been waiting for movement from the Fed.