Robust demand and scarce supply have driven up home prices in the Treasure Valley this spring. However, rising mortgage rates threaten to dampen the enthusiasm.
May is typically one of the busiest months in the housing market, as families with school-aged children aim to relocate before the new school year begins.
The median price of a single-family home in Ada County rose by 7.5% year-over-year to $556,500 in April, up slightly from March. Boise home prices climbed to $525,000, a 5% increase compared to the previous year. In Canyon County, prices ended the month at $429,995, up 10.3% from April 2023, the highest since October 2022.
As prices have risen this year, bidding wars have become less frequent. However, fairly priced, move-in-ready
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