A look at the market statistics by County from Boise Regional Realtors.
The median sales price in Ada County got a slight reprieve in July 2023 at $540,000 — which eased by $5,000 compared to the previous month. This marks the first slide in MSP since March 2023. New construction cooled by approximately $12,000 in July where existing/resale eased by $1.
The glacial effects on new construction’s median sales price were likely affected by the sector’s increase in inventory. New builds saw a month-over-month boost of 8.9% — reaching a total of 601 homes for July 2023 — taking the lead over existing home inventory accumulation which landed at 7.0% more than the previous month. A 2.5% month-over-month increase in mortgage rates may have also contributed to ebbed pricing.
“The median sales price in Ada County for June 2023 was $545,000, an 8.0% cut from the same month a year ago but the third consecutive bump up compared to the month preceding. The existing/resale sector remains cooler at $540,000, but still an uptick of $30,000 from May 2023. New construction saw the only month-over-month … » Learn More about June Market Report
“March marks the second month in a row that year-over-year declines were limited to single digits, pointing to “an uptick in overall market activity”
A look at February Market Sats in Ada County