Located in western Canyon County, this little town has a population around 13,000 and has been growing at 4.3% per year.
Middleton real estate consists of many homes with acreage, which makes the prices seem higher, and newer subdivisions full of starter and mid-level homes.
Existing homes sold last month averaged $563,133 median $469,000. Market times average 34 days on homes sold.
This chart shows all available single-family homes in Middleton, both new & existing, compared to the number pending. You can clearly see the post-covid shortage of listings, then the spike in mortgage rates in 2022 flipped the script and supply has been trending upward since. The farther these lines are apart the stronger buyers' bargaining power. Current supply stands at 1.75-months base on the pace of sales. This is historically low, but higher rates and affordability are keeping prices from climbing as we would expect.
Now 70% of available homes in Middleton are new construction. Zero foreclosed and short sales.
Looking at the history of the pie-chart above, the seasonal nature of the Middleton housing market is evident. This year, new construction has really surged and the inventory of new homes is at an all-time high going into winter. I would expect builders to lower prices and offer big incentives to move this inventory.
Call or text me with any questions, or for my local insights, good local lenders or listings of homes for sale that meet your criteria. And if you need to buy or sell a home, I would like to apply for the job.
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