In July, the median sales price for homes sold in Ada County reached $390,000, inventory bottomed out at 743, closed sales hit a high mark at 1,402, and pending sales soared to 2,046.

There are a number of variables at play when it comes to home prices, but the bottom line is that buyer demand continues to outpace the supply of homes for sale. The existing homes that are available for purchase are often being listed and are selling at higher prices than what we saw in 2019. Our market has faced low inventory for years now, and the ongoing COVID-19 pandemic and recession have put even more pressure on the supply/demand relationship.

For the full article from Boise Regional Realtors CLICK HERE