Treasure Valley Housing Market Update: Home Prices Rise as Inventory Grows
Posted by Lisa Kohl on Wednesday, February 12th, 2025 at 2:21pm
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 both counties remains well below the 4-6 months needed for a balanced market, keeping prices stable. Days on market, which measure how long a home is listed before going under contract, have increased slightly in line with seasonal trends. Ada County homes now average 47 days on market, while Canyon County is at 51 days.
Eagle and Star, two of the area’s fastest-growing markets, saw the largest price gains. Eagle’s median price rose 12.8% to $896,900, while Star climbed 12.3% to $545,000. In Star, shrinking inventory has left buyers with fewer options sustaining demand, while in Eagle, homes are selling 36 days faster than last year, reflecting steady buyer activity.
An increase in activity during January is typical due to seasonality. Mortgage rates will remain a key factor influencing buyer demand and pricing. As spring approaches, inventory is expected to rise as more sellers enter the market, setting the tone for the Spring Selling Season in the Treasure Valley.
Market Highlights:
- Home prices continue to rise. Ada County’s median price increased 5.1% year-over-year to $539,200, while Canyon County climbed 6.3% to $424,995.
- Eagle and Star saw the biggest gains. Eagle’s median price surged 12.8% to $896,900, while Star jumped 12.3% to $545,000.
- Inventory has grown giving buyers more choices. Ada County’s supply increased 17.6%, while Canyon County saw a 28.2% rise in available homes.
- Days on market have increased slightly due to seasonal trends. Homes in Ada County now take an average of 47 days to sell, while Canyon County homes are at 51 days.
- Mortgage rates are nearly unchanged from this time last year.
By the Numbers: January 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: $539,999, up 11.35%
- Median sold price: $525,000, up 8.25%
- Average price per square foot: $302, up 4.1%
- Total home sales: 159, down 1
- Median days on market: 30, down 2
- Available homes for sale: 1.25 month supply, up 0.07
- 30-year mortgage rate: 6.96%, up 0.32
Treasure Valley Market Trends
- Ada County: $539,200, up 5.1%
- Eagle: $896,900, up 12.8%
- Garden City: $660,000, up 18.4%
- Kuna: $438,833, down 1.9%
- Meridian: $519,900, down 1%
- Star: $545,000, up 12.3%
- Canyon County: $424,995, up 6.3%
- Caldwell: $384,990, up 1.3%
- Middleton: $526,990, up 17.1%
- Nampa: $406,495, up 1.6%
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 February 11th, 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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