- Median List Price $269,900
- Median Sold Price $269,900
- Days on Market 11
- Total Sold 1,083
Ada County home prices have increased 11.07 percent over the previous 12 months and now stand at $269,900.
Canyon county prices are up 9.81 percent since last July finishing the month at $185,501. The sixth record in six months.
Nationally home prices are up 5.6 percent with Seattle 13.3%, Portland 8.9% and Denver 7.9% leading the way. (per the Case-Shiller home price index, released July 25th)
Ada values dipped slightly from June to July, with Canyon showing an increase. Both typical for this time of year.
Available homes for sale are at the highest level we have seen this year, but at 1,934 (2.12 months) Ada County inventories are below what we saw this time last year by about 12 percent. Similarly, inventory is down 8.5 percent in Canyon County.
Total home sales in Ada declined in July to 1,083 from 1,206 in June.
Summer has put a slight dent in demand as home buyers tend to take a breather beginning in June. The combination of aggressive pricing by home sellers and the typical mid-year break is keeping a limit on bidding wars. July is the first month since early spring sale prices have not exceeded asking values (list price to sale price ratio).
Year to date we continue to see the biggest price gains in the lowest cost areas. Middleton (median price $212,900) and Kuna (median price $210,000) are leading the way with values up 19.71% and 12.06% respectively. In addition to greater affordability, the increase in new construction activity is helping to push pricing to new highs.