Over the last twelve months, the cost of the typical home in Boise rose by nearly $1,000 a week.
Boise’s median single-family home price increased to $335,000, up 17.54 percent from $285,000 last May.
Ada County home prices also reached a new record of $342,765, an increase of all most $38,000 or 12.42 percent.
In contrast, Canyon County prices are up only $34,200 to $243,200. That’s below the record high set last month but still the second highest on record.
In Boise, homes are selling in a median of six days on market. Even that number understates demand as many savvy sellers won’t review any offers for 48 to 72 hours. The delay gives more time to buyers to see the property, therefore, increasing the opportunity for multiple offers.…