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Canyon and Ada County Idaho Market Snapshot for August 2017

By September 12, 2017Real Estate News

Ada County Home Prices Reach New Record in August While the Pace of Growth Steadies

 

Three main factors continue to drive housing demand in Ada County — increased economic development, limited housing supply, and a growing population — resulting in a record high median sales price in August 2017 of $278,000, up 9.6% from a year ago.

Yet while the actual median sales price continues trending upwards, the rate at which it does so has been slowing down. Think of it like driving your car up a hill: as the road gets steeper, the speed at which you drive decreases. You’re still gaining ground, just not as quickly.

ADA County Idaho Real Estate Market Report August 2017Canyon County is experiencing the same slowing price growth. From January 2012 to December 2014, the average monthly, year-over-year median sales price increase was 18.9%, compared to the average for January 2015 to August 2017 of 10.5%. The actual median sales price in Canyon County for August 2017 was not a new record, but it was up 11.0% from August 2016 to $183,000.

CANYON County Idaho Real Estate Market Report August 2017

Read the FULL REPORT Here

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