Home Prices On The Rise In Idaho As Supply Shrinks

Apr 17, 2017

The price of housing in Ada and Canyon Counties is near a record high. Supplies aren't keeping up with demand in the Treasure Valley homes market.
Credit Chapendra / Flickr

Housing prices across the Treasure Valley keep rising as the supply of homes remains stagnant.

The median price of home in Canyon County is up over 10 percent from the same time last year. Homes in the county are now up to $164,700. Last July, the average price was $160,000.

According to the Statesman, home prices in Ada County are still floating around record highs. Last June, prices of resale houses peaked at $239,000. Prices this March were still up over 8 percent from where they were at the same time in 2016. The median resale home price in Ada County last month was $233,000. When factoring in new build homes, the median price leapt to $250,000.

Homebuilders across the nation are failing to keep pace with demand. Supplies of homes across the valley have gone from low to lower. Ada County listings are down 15 percent from March of last year, and Canyon County has seen a decline of 10 percent.

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