ADA COUNTY HOME SALES RETURN TO 2006 LEVELS

Ada County has seen a 20.3 percent increase in home sales in July over July 2014, even with median sale prices edging up 8.4 percent to $232,500, according to the Ada County Association of Realtors market report.  The surge is driven by high prices in other places that enable people in states like California, Oregon and Washington to upgrade in Boise, said Breanna Vanstrom, ACAR’s executive director. 
“Many of our new residents seem to be professionals relocating for work, out-of-state buyers, and retirees who tend to look for or are able to purchase at higher price points,” Vanstrom said.  Prices are also being driven up by an overall seller’s market with only a 2.5-month inventory of homes on the market.  A balanced market is typical a four-to-six-month supply of homes, she added.

From Idaho Business Review – August 10, 2015