Easing Rates, Expanding Inventory: February 2025 Boise Real Estate Market Trends
Posted by Lisa Kohl on Tuesday, March 11th, 2025 at 2:38pm
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 absorbing much of the new supply in Canyon County where home prices are considered more affordable.
Compared to last year, there are more options available for buyers. Ada County saw 1,322 homes on the market in February- up 22% from a year ago. Canyon County also saw an increase, with active listings up 35% year-over-year to 984. Even so, the number of pending sales remains consistent with last year, indicating that demand is keeping pace with supply. The incremental inventory boost hasn’t been enough to ease ongoing supply challenges. Additionally, since January, open-house traffic and inquiries from potential buyers and sellers have notably increased signaling renewed interest heading into spring.
Mortgage rates have continued to ease in recent weeks. After averaging 7.04% for a 30-year fixed loan in January, rates declined to 6.63% as of March 3rd, the lowest point in over two months. This shift represents nearly a 3% increase in buyer affordability, or about $13,000 in additional purchasing power without increasing a buyer’s monthly payment. A decline in rates, paired with modestly improving inventory, opens up a window of opportunity for buyers. However as affordability improves, market momentum often follows- and when it does, competition tends to ramp up quickly.
Spring typically ushers in more activity, and this year is likely to follow that familiar pattern. As move-up buyers list their homes and re-enter the market, we often see a seasonal rise in inventory presenting more options for those entering the market.
By the Numbers: February 2025 Real Estate Market Overview
Median Price: What You Should Know
The median sale price provides a snapshot of home affordability in the market. It represents the midpoint of all home sales, giving buyers an idea of what they might expect to pay. A higher median price typically reflects a more expensive housing market.
Inventory Trends and What They Mean
The number of homes available for sale shows how much choice buyers have in the market. Changes in this number indicate whether inventory is growing or shrinking, which can affect competition and pricing for buyers.
What Days on Market Tell Us About Demand
The average number of days on market measures how long it takes for homes to sell. A lower number suggests a fast-moving market with high demand, while a higher number indicates homes are taking longer to sell, often reflecting lower buyer activity.
Boise Market Trends
- Median list price: $496,450, up 4.52%
- Median sold price: $495,000, up 3.51%
- Average price per square foot: $306, down 0.97%
- Total home sales: 204, up 12
- Median days on market: 20, up 4
- Available homes for sale: 1.32 month supply, up 0.15
- 30-year mortgage rate: 6.84%, up 0.06
Treasure Valley Market Trends
- Ada County: $530,000, up 1.5%
- Eagle: $762,452, down 0.3%
- Garden City: $472,500, down 1.6%
- Kuna: $445,954 down 6.9%
- Meridian: $528,950 down 3.7%
- Star: $549,990, up 7.2%
- Canyon County: $415,990, up 1.5%
- Caldwell: $379,990, down 0.6%
- Middleton: $511,913 up 19.1%
- Nampa: $417,495, up 1.8%
Lisa Kohl
Lisa carefully studies the local housing market to give her clients the edge when buying or selling a home in Idaho. We Know Boise is a full-service real estate team that combines our LOCAL expertise with traditional know-how to create exceptional results for each of our clients.
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Select information in this We Know Boise market report was obtained from the Intermountain MLS (IMLS) on March 10th, 2025. While the data is deemed reliable, it is not guaranteed. City-specific data refers to single-family homes on less than one acre, whereas county-level data includes homesites of all sizes. The "months of supply" metric is based on a 12-month rolling average. Home prices mentioned combine both existing and new construction properties. Comparisons are based on year-over-year changes unless otherwise specified.
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