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Thursday, July 13, 2017

Buyer Demand and New Construction Pricing Drive the Boise Region’s Home Prices to Record Highs

Ada County’s median sales price in June 2017 reached $273,950, an increase of 8.7% over June 2016. The median sales price in Canyon County reached $184,000 last month, an increase of 12.4% compared to last year. Both were record highs.
Three things continue to drive prices up in the Boise Region: consumer demand, lack of inventory, and higher-priced new construction — not market speculation as was common a decade ago.
To measure each of these market drivers, we took a deeper look at activity for pending sales, months supply of inventory, and the median sales price for new construction.
This report and information is provided by the Ada County Association of REALTORS®. To read the full story click here.

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