Amid all that has occurred in recent months, our local real estate market continues to stay strong. We anticipate more and more people making the move to Idaho, especially due to recent events. We continue to struggle with low inventory. The supply of homes available to buyers continues to be less than it has been in the history of the last four years and the last four months.
With that being said, home prices continue to be on the rise. The median sales price for homes in Ada County was $342,720 in February 2020. The median sales price in May 2020 was $360,000. That’s about a 5% increase within the last three months, and about a 6% increase from this time last year. The median sales price of homes in Canyon County increased from $255,500 in the month of February, 2020 to $277,537 for the month of May. That’s an increase of about 8% over the last three months, and 14.16% increase from this same time last year.