The total number of New construction homes for sale rose by 6.8 percent to 1,493. This is only the second increase in inventory in more than four years therefore putting very little downward pressure on prices in the next few months.
Over the last 12 months, Boise house prices rose nearly 12% to $292,400. In Canyon County, the median cost of a home increased by 18% to $225,495.
Total sales in Ada County declined to 709 from 829 twelve months prior, mainly due to the fact there’s so little on the market.
Ada County’s 1.60 month supply in inventory is the lowest its been since last June. For buyers, it may be a little disheartening right now with Spring offering so little to choose from. For sellers, listing in March seems to be the way to go based on the trend of higher prices and the late year flatline.
- Median list price – $293,400 (up 10.76%)
- Median sold price – $292,400 (up 11.79%)
- Price per square foot – $180 (up 18.42%)
- Total home sales – 300 (down from 399)
- Median days on market – 17 days (down 3 days)
- Available homes for sale – 0.97 months supply (down from 0.95)
- 30-year mortgage rates – 4.54% (up from 3.95%)
Home Prices in Canyon County are rising, but still at a low in the Treasure Valley. Now’s a great time to look while prices are still relatively affordable. Find your Caldwell, ID Dream Home today!