Here are all the numbers from June and what they mean for the market.



As we roll into the second half of the year, I want to give you a quick update on the numbers from June. Things have been great so far this year, so I’m looking forward to what these numbers say about our future!


The median sales price in Ada County for June was $525,000, up just a little bit from May. From April to May, there was a larger, 9% increase in price. So while prices are still rising, they didn’t increase as much as the previous month. Meanwhile, the median price of new construction is up to $552,000. 70% of buyers in both May and June paid over list price, with the average buyer paying 7% over list price.


Interest rates are also still historically low. As of the recording of this video, rates are at 2.75% for a 30-year fixed loan and 2.5% for an FHA 30-year.


"It’s important to remember inventory is still historically low.”


We’ve also seen a slight increase in inventory this month. June was the third consecutive month we’ve seen an increase in inventory. Since May, inventory is up 27%. We’re probably going to start hearing people ask if the market is leveling off, but it’s important to remember inventory is still historically low. If inventory is so low, a 27% increase isn’t as much of a difference as it might seem.


For example, we only have 0.7 months of inventory available. This means that if no new homes came on the market, all available homes would be sold in 0.7 months. For context, a balanced market is considered four to six months of inventory.


If you have any questions about today’s numbers, or if you have other questions, do not hesitate to reach out to me. I am always available and willing to help!