The blazing hot real estate market in Ada County has just set two new records and it's all about the numbers.
The first is 16 – that’s how many days, on average, an existing home sat on the market in June. That’s the fastest existing homes have sold since Boise Regional Realtors began tracking such data in 2004.
The second number comes with a bit of sticker shock: $324,647. That’s the new record median home price in Ada County and nearly $20,000 more than it was in May.
Boise Regional Realtors says it’s not a total surprise as prices typically spike in June and July.
They say low inventory continues to be a problem – if you’re a buyer – by driving up prices.
If you’re in the market for a new home, the median price last month clocked in just shy of $395,000, while the median for existing homes closed at about $300,000 – both new records.
You can learn more about how Boise and the rest of Idaho is coping with such monumental growth in our recent series, Our Changing Idaho.
Follow James Dawson on Twitter @RadioDawson for more local news.
Copyright 2018 Boise State Public Radio
