The price of homes in Ada County went up again in September. The Boise Regional Realtors cite low mortgage rates and limited supply as compared to the demand for the uptick in prices, thus creating a competitive market.
Overall, the median sales price reached $409,000, an increase of 17 percent over last year. This includes both existing and new home sales.
CBS 2 News reports, the average mortgage rate for 30-year fixed was at 2.9 percent, according to Freddie Mac. That’s 19 percent less than the same month last year.
The Months Supply of Inventory, a measuring system for supply vs. demand, was at .4 months in Ada County during September. Meaning the county would run out of homes to sell if no new homes were listed.