Boise Idaho Real Estate Blog

Boise Market Balances Rising Prices and Inventory as Cautious Buyers Set the Pace

While national housing headlines point to a slowdown, the Boise real estate market tells a more local and more layered story.

In May, both home prices and inventory rose across Ada and Canyon counties, which isn’t the first time we’ve seen rising inventory and rising prices coexist.

In Ada County, the median sales price climbed to $579,900- up nearly 5.1% from May of last year. Canyon County prices were up 3.4% year over year with a median price of $433,990.

Homes that are priced strategically continue to draw near-full-price offers. In May, sellers in Ada County received 99.64% of their asking price on average; in Canyon County, it was 99.79%.

This “sale-to-list price ratio” reflects how close homes are selling to their original asking…

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Treasure Valley Spring Market Slows, Home Inventory Grows

The spring market is here, but it’s not in a rush. Despite more homes hitting the market and pricing holding steady, the usual seasonal urgency has been replaced with a slower start to the season for the Boise Real Estate market.

In Ada County, the median sold price was $546,193, down from $565,000 in March and nearly 2% lower than the $556,500 last year. Canyon County’s median price was $415,000, a 3.5% year-over-year decrease from $429,995.

These modest price shifts don’t signal a downturn, but reflect a more measured spring market. Buyers are weighing decisions more carefully, particularly in the face of rising inventory and steady interest rates. Not all listings are seeing the level of activity typically expected this time of year, and many…

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Spring Momentum Drives Boise Housing Market as Inventory Expands

The Boise real estate market is shaping up with springtime momentum, offering more options for buyers while sellers continue to benefit from steady demand.

In Ada County, the median sold price rose to $565,000 in March, a 1.8% increase from last year and up 17.2% compared to two years ago. Boise’s median price reached $540,000, up 1.9% from last year, while home prices in Canyon County rose 2.8% to $424,990. While growth has returned to a more sustainable pace compared to the pandemic surge, prices continue to remain stable, with modest year-over-year increases.

Across the Treasure Valley, the number of homes for sale is steadily climbing. In March, 1,186 new listings came to market in Ada County, bringing total active inventory to 1,503 homes…

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Easing Rates, Expanding Inventory: February 2025 Boise Real Estate Market Trends

While the number of pending home sales have declined nationally, activity in the Treasure Valley real estate market has remained steady and practically unchanged from last year as falling mortgage rates could set the stage for a Spring surge.

In February home prices saw slight year-over-year growth. Ada County’s median sales price rose 1.5% to $530,000, while Canyon County’s median increased 1.5% to $415,990. With the number of closed sales and the average days on market remained nearly unchanged in both counties.

Housing supply has edged up slightly, particularly in Canyon County, with 2.47 months of inventory up from 2.03 months a year ago. In Ada County, inventory increased to 1.89 months, compared to 1.78 a year earlier. Buyer demand is…

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Treasure Valley Housing Market Update: Home Prices Rise as Inventory Grows

A new year brings more homes for sale and higher prices. As 2025 begins, the Treasure Valley market saw both inventory and home values on the rise.

The median price for a single-family home in Ada County rose to $539,200, a 5.1% year-over-year increase, while Canyon County prices climbed 6.3% to $424,995. Despite more homes hitting the market, buyer demand remains steady with mortgage rates offering little relief, holding in the high 6% range.

January brought a slight increase in the number of homes for sale, a welcome shift for buyers facing limited options. Ada County saw 1,257 homes for sale, a 17.6% increase from last year, while Canyon County’s inventory rose 28.2% to 905 homes.

While inventory has grown slightly, a two-month supply in…

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December Treasure Valley Home Sales Surge Despite High Rates

December Market Highlights. Despite elevated mortgage rates, December ended the year with a surge in home sales. Ada County recorded a 37% increase year-over-year with 679 homes sold, while Canyon County saw a 44% jump to 370 sales. The median sold price in Ada County climbed to $510,000, up 5.5% year-over-year, while Canyon County’s median price dipped slightly to $405,000, a 1.6% decrease.

For buyers, mortgage rates hovering just below 7% continue to pose affordability challenges. Even a small rate increase can significantly impact a buyer's budget over time, making rate fluctuations a critical factor. However, the slower pace of the winter market can present opportunities with reduced competition. Buyer activity tends to slow when rates rise and…

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2025 Housing Forecast: Why January Could Be a Turning Point for Buyers and Sellers

Rising home inventory has fueled higher sales this year, while elevated mortgage costs have kept price growth in check.

For buyers, the unpredictability of mortgage rates has been almost as impactful as the rates themselves. Monthly payments have fluctuated by hundreds of dollars, creating challenges even for those who can technically afford the added expense.

Over the past two years, homebuyer demand has tended to rise when mortgage rates approach 6% but lose momentum when rates climb past 7%. The market surged in August and September as rates hit a two-year low, only to cool when rates spiked in October. Recently, rates dropped again, reaching a five-week low of 6.69%.

Despite the volatility, buyer activity has been busier than usual for…

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Treasure Valley Home Sales Skyrocket: Ada County Sees 47% Jump

The Treasure Valley housing market is showing renewed momentum. After reaching a nine-year low, home sales have bounced back significantly since mid-year, largely thanks to easing interest rates and improved inventory.

In October, home sales in Ada County surged by 47% compared to a year ago, with Canyon County seeing a similar rise of 39%.

During the first half of the year, demand for homes slowed as fluctuating interest rates made it difficult for buyers to commit. Coupled with rising home prices, higher rates stretched budgets, making monthly payments less affordable.

However, in May, mortgage rates began to decline, sparking renewed buyer interest. Builders also offered incentives to lower buyers’ mortgage rates, further fueling demand.

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Plunging Mortgage Rates Ignite Buyer Interest, But Market Uncertainty Lingers

In Ada County, plummeting mortgage rates are making a big difference; the average buyer is saving $500 per month compared to just a few months ago. Combined with a slight dip in home prices, lower rates are a green light for many who were previously on the fence about buying.

After reaching nearly 8% in October last year, mortgage rates have settled at just over 6%, their lowest level since early 2023. While the Federal Reserve's expected rate cut last month grabbed headlines, mortgage rates had already started dropping sharply in August, anticipating the Fed's move.

Buyers and homeowners were quick to take advantage of the lower rates. Nationwide, mortgage applications for new construction homes jumped 15% in August, and refinance originations…

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Falling Rates, Rising Supply: Boise Housing Market Opens Doors for Buyers

Following a brief summer slowdown, homebuyer demand is inching higher as mortgage rates continue to fall. After peaking at 7.22% in May, rates dropped to 6.35% last week—nearly a full percentage point lower than last year and the lowest since April 2023.

Even slight drops in mortgage rates can lead to significant savings, adding up to hundreds of dollars per month. From an affordability perspective, a 1% drop in mortgage rates is equivalent to a 10% decrease in home prices.

In August, the median home price in Ada County rose to $536,665, a 3.2% increase from last year. In Boise, home prices ended the month at $516,000, reflecting a 4.2% rise. Prices in the county saw a notable dip last August, making year-over-year comparisons appear more…

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