Despite softer demand, a limited supply of homes for sale has driven Ada County housing prices higher in 2023.
Since the beginning of the year, prices in Ada County have surged by 11%, with some sought-after neighborhoods experiencing even larger gains. In contrast, Canyon County has experienced a more modest 3% increase.
While this year's demand is lower than in previous years, the supply is even scarcer, leading to rising prices. Except for the 2020–21 period, there are fewer homes on the market now than in any August over the last decade.
At the end of July, the median price of a single-family home was $540,000 in Ada County and $404,990 in Canyon County, virtually unchanged from the previous month.
The gains in 2023 follow a
…