Sharp Drop in New Listings Sends Ada County Home Prices Higher
Posted by Lisa Kohl on
A plunge in new listings sent Ada County home prices to near-record highs in November.
Across the Treasure Valley, supply is shrinking fast due to continued strong demand from buyers and a sharp drop in new listings.
The median home price in Ada County rose to $538,450, just $1,500 shy of the all-time record set in July. Over the last 12 months, prices have risen $111,000, or 26%.
In neighboring Canyon County, the median home price rose to $409,450, up $84,000, also a 26% increase from the year prior. Prices in the county are down 3.4% from the record high set in June–in line with the seasonal trends we typically see this time of year.
In recent months, we have seen a return to the seasonal trends of slowing home price gains in the fall.…
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