© 2022 Boise State Public Radio
WebHeader_3.png
NPR in Idaho
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Join us on July 7 for a community conversation on issues and ideas from the Magic Valley Latino/a community.
Economy

Ada County housing prices leap up in November

"Huge Lot For Sale" sign stands on a lot with a four-land road in the background
Idaho Statesman

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.

Follow James Dawson on Twitter @RadioDawson for more local news.

Copyright 2021 Boise State Public Radio

Member support is what makes local COVID-19 reporting possible. Support this coverage here.