The median sales price for homes in Ada County reached $575,000 last month, which is a year-over-year increase of 22.6% and yet another new record for the county. This price jump was driven largely by the new construction sector, which accounted for nearly
a third of all sales that occurred throughout the month.
If you've been contemplating selling, this is a fantastic time to evaluate and capitalize on the equity of your home. Our team is excited for the coming spring market and would love to help you get top dollar for your home or investment property. Let's chat!
And/or if you are looking to buy, our team continues to help our clients every day take advantage of their heightened buying power & find homes in our highly competitive market. Let's connect!
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Graphics provided by Boise Regional Realtors.
SUMMARY: If you group together both existing and newly constructed single-family homes and compare those numbers to the same month one year ago (detailed in the top infographic): inventory increased by a notable 103.1%, the median sales price increased by 22.6% (coming in at $575,000) and they took a slightly longer amount of time to go under contract.
If you then examine just existing/resale homes (and remove all the newly constructed homes from the numbers); the median sales price increased by 16.7% (coming in at $555,000), inventory increased by 115.3% & homes took a longer amount of time to go under contract.
And finally, if you look just at newly constructed homes; new homes are selling for a median sales price of $606,050 (a year-over-year increase of 31.5%) and there are more of them available than there were one year ago (inventory is up by 90.3%).
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TREASURE VALLEY HOUSING MARKETS
Average Sold Price (March 14, 2022 - April 14, 2022)
- Boise: $613,028
- Eagle: $915,126
- Meridian: $640,618
- Star: $697,513
- Garden City: $353,500
- Kuna: $540,415
- Middleton: $612,391
- Nampa: $499,006
- Caldwell: $448,352
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If you've been considering a move, this would be a
great time to connect with us to discuss the current value of your home and to see what's newly available on the market. To discover what your home is currently valued at, simply click here and we will happily provide you with an obligation-free, complimentary home or investment property evaluation.
If you’re hoping to buy, keep in mind that low inventory certainly isn’t the same as no inventory. There are options available, and current rates are making mortgage payments more manageable. Click here or call us to discuss what you're looking for. Otherwise, keep reading to learn more about what's happening in Ada County's real estate market.
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