Despite mortgage rates reaching multi-decade highs in October, home prices in Ada County continued to march higher, rising for the second consecutive month.

The median price of a single-family home in Ada County climbed to $539,990 last month, marking an 11.3% increase since January. After reaching a 2023 high in September, home prices in Canyon County fell to $400,000, up 1.2% year-to-date.

Throughout the spring and summer, high-priced properties with unique features and prime locations were frequent subjects of bidding wars. More affordably priced homes sold quickly—often within days. For many buyers, finding a move-in ready home under $500,000 became a significant challenge.

While it hasn’t been a great time to be a seller, particularly

Ada County's home prices, which plummeted by 16% year-over-year in March, have made a surprising rebound, ending September at nearly the same figures as the previous year. This stability amidst rising mortgage rates paints a captivating picture of the current housing market's resilience.

In Ada County, the median single-family home price fell just 0.9% from a year earlier, settling at $535,000. Home prices in Canyon County declined 2.6% to $415,990. Both counties saw a more than 2% increase from the previous month.

In the Treasure Valley, there are currently 2,333 homes for sale, a staggering 37% decrease from last October. Given the current sales pace, this represents a 2.3-month supply of homes on the market.

With few homeowners

After a surge earlier this spring, home prices in the Treasure Valley have begun to show signs of moderating. This shift can be partly attributed to the return of pre-pandemic seasonal trends and the looming threat of rising interest rates.

From July to August, the median single-family home price in Ada County fell by $20,000, settling at $520,000. This decrease can be credited to the re-emergence of seasonal patterns and a variation in the types of homes sold during the month. Conversely, the median price in Canyon County saw a slight increase, reaching $405,000.

Since January, home prices are up 7.2% in Ada County and 2.4% in Canyon County. However, prices in both counties are still 8% lower than in August 2022.

After a slowdown last fall,

Despite softer demand, a limited supply of homes for sale has driven Ada County housing prices higher in 2023.

Since the beginning of the year, prices in Ada County have surged by 11%, with some sought-after neighborhoods experiencing even larger gains. In contrast, Canyon County has experienced a more modest 3% increase.

While this year's demand is lower than in previous years, the supply is even scarcer, leading to rising prices. Except for the 2020–21 period, there are fewer homes on the market now than in any August over the last decade.

At the end of July, the median price of a single-family home was $540,000 in Ada County and $404,990 in Canyon County, virtually unchanged from the previous month.

The gains in 2023 follow a

Home prices in Ada County rose again in June, accompanied by a yearly 36% decrease in the availability of homes for sale. This highlights the fierce competition over the diminishing supply of low-priced homes.

The median price of a single-family home in Ada County fell 8% from the previous year, reaching $544,881 in June. Canyon County also experienced a decrease, with prices dropping 9% to $405,000.

While home prices remain below year-ago levels, a limited supply of homes has led to steadily higher prices since the beginning of the year. Since January, prices in Ada County have risen by 12.3%, while those in Canyon County have seen a 2.4% increase. In Boise, prices have jumped by 9.7%, ending June at $525,000—the highest level since last July.

Treasure Valley home prices witnessed another surge in May. The ongoing scarcity of available homes intensified competition among buyers, particularly for the lowest-priced properties.

Home prices in Ada County jumped by $36,000 between March and April, followed by an additional increase of $17,000 in May. That's a remarkable $53,000 increase in just two months.

Over the past year, the number of resale listings has fallen. Homeowners are reluctant to let go of low mortgage rates and have hesitated to sell. Additionally, a slowdown in new construction activity last fall means fewer new homes are available.

While demand is notably lower this summer than we have seen in recent years, low supply is more than offsetting the reduced demand.

In

The Ada County real estate market is heating up this spring as home prices jump to their highest point in five months. Limited inventory has sparked intense competition among buyers, fueling the price surge.

The median home price in Ada County soared by $35,600 from the previous month, settling at $517,500—the highest point since November 2022. Despite this increase, prices are still down 13% compared to last April. Boise experienced a similar surge, with home prices climbing $32,505 to $500,000 from the previous month.

Canyon County prices finished April at $389,990, down 18.2% year over year, roughly in line with March.

As the number of available homes for sale continues to decline in 2023, buyers face a significant increase in

The combination of reduced mortgage rates, limited inventory, and robust demand for low-cost homes has helped stabilize Treasure Valley home prices.

Ada County's median home price in March reached a two-year low, dropping to $481,900, representing a 16.2% decline from the previous year. In neighboring Canyon County, home prices fell to $395,000, marking a yearly drop of 12.8%.

Despite these declines, however, prices in both counties have remained relatively steady since the beginning of the year, signaling a potential end to the downward trend.

Between late January and early February, there was a significant decrease in mortgage rates, bringing them to their lowest point since September. This scenario, along with the drop in home prices,

As the spring selling season begins, Treasure Valley home prices display glimmers of stability following year-over-year declines.

In Ada County, the median single-family home price declined 10.7% from the previous year, finishing February at $491,057. Canyon County prices dipped to $389,945, down 10.2% from the year before.

While prices rose slightly in Ada County and declined somewhat in Canyon County, their combined prices are essentially unchanged from January, marking the first month without a decline since October.

Star and Middleton emerged as the only two cities in the Treasure Valley to record a yearly increase in prices. Star saw a gain of 11.7%, while Middleton's prices rose by 2.6%. Conversely, Kuna showed the biggest decline, with

The Treasure Valley housing market saw home prices and sales decline in January, as rising interest rates and a typical seasonal slowdown ahead of the holidays took their toll.

In Ada County, home prices fell 10.2% year-over-year to $485,000—the lowest level since April 2021. Canyon County saw a 6.9% yearly price decrease, settling at $395,445, a slight increase from December but also in line with the beginning of 2021.

The slowdown in the market can be partly attributed to the seasonal trend of fewer sales and lower appreciation in January; it also reflects purchase decisions made months earlier when mortgage rates were at a 20-year high.

Decreasing affordability and increasing economic uncertainty caused many buyers to retreat from the