The cost for new homes in Ada County has hit another milestone, with a multitude of factors contributing to sky-high prices.
The median sales price for a new home in Ada County shot up to more than $600,000 in November.
That’s a new all-time record, according to Boise Regional Realtors, a local industry group, and is nearly 40% higher than Nov. 2020.
The cost of materials, labor and the land itself factor into the jump in prices.
Boise Regional Realtors said delays in construction have sharply cut total sales of new homes this year.
Factoring in existing homes, November’s median sales price for all houses reached $537,900.
Far more existing homes are available for sale in Ada County compared to last year – up 218% from Nov. 2020. But the total inventory is still well below what’s considered to be a balanced market.
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