2018 Realtor Report Digs Into The Numbers Behind Boise's Record-High Home Prices
According to a report from Boise Regional Realtors, the median sales price in Ada County was $314,000. That’s 18 percent higher than prices in 2017. New home sales were up by more than 22 percent year-over-year. But when it comes to pre-existing home sales, the numbers were down by 4.1 percent.
The key to median home prices in 2019 could be new construction. Boise Regional Realtors found that when new construction was a significant portion of the market, homes sold for at least 12 percent more on average. That’s due in part to rising costs of building a home: Construction companies are seeing the effects of tariffs, and that cost is trickling down to home buyers.
According to the Census Bureau, 34 people move to Ada County every day.
Find reporter Frankie Barnhill on Twitter @FABarnhill
Copyright 2019 Boise State Public Radio