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Median home sale price hits $540,000 in Ada County

Realtors say, however, they are seeing an increase of houses on the market, with sellers likely motivated to list due to the high prices.

BOISE, Idaho — Note: The video in this story is from a June story on the housing crisis in Boise.

Amid the Treasure Valley's burgeoning housing crisis, home prices in Ada County rose again last month.

The median home sale price was $540,000 in July, according to Boise Regional Realtors, a 2.9% jump from June. 

The Boise area has seen astronomical price growth over the last several years, driven in part by low inventory, with both home prices and rent soaring upward.

The realtor group says that the amount of houses currently up for sale has risen, with sellers perhaps motivated by the higher price tags. July marked five consecutive months of inventory growth, with 1,055 homes for sale by the month's end. That is a 44.7% jump from June's 729 houses, and a meteoric 116.3% higher than the number of homes available in July 2020.

Boise Regional Realtors say owners may have been motivated to list their houses after median home prices surpassed the $500,000 mark in May.

"The uptick in the number of homes for sale is great news for buyers," said 2021 President of Boise Regional REALTORS®, Jeff Wills. "You still have to act quickly once you've found a home to purchase, but keep in mind the transaction isn't over once your offer is accepted. In fact, that's when most of the work is just beginning for REALTORS® working on behalf of their clients." 

Houses are still going fast, the group said, with an average of just 13 days on the market. 

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