Ada County single-family home prices hit a new high of $261,975 in May. This surpasses the previous record high of $258,445 we set in February of this year. Home prices are up 9.16% since May of 2016.
On average, houses for sale are selling for $700 over list price with a median of 9 days on market.
Active inventory dropped to just 1,786 active listings, down 327 from May of 2016. For some perspective, a 4,000 to 6,000 would be in line with a balanced market based on current home sales.
Boise’s new single-family median home price is $243,450, up from $239,700 the previous high set in February of this year. The typical home sold for $3,450 above list price in May, 101.44% of the price the seller was expecting to receive.
Canyon County prices surpassed