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Real Estate Market

Boise Home Values

The median sale price for single-family houses in Boise, ID, from February 1st to February 29th was $478,200, as determined by 192 home sales. The average price per square foot in Boise was $309, reflecting an increase of 10.4% compared to the same period last year. Below is a summary of the Boise real estate market:

$475,000
MED. LIST PRICE

-3.80% vs. Last Year

$478,200
MED. SOLD PRICE

-1.20% vs. Last Year

192
TOTAL HOME SALES

-30 vs. Last Year

16 DAYS
TIME ON MARKET

-29 vs. Last Year

1.17
MONTHS OF SUPPLY

+0.04 vs. Last Year

6.78%
30-YEAR FIXED MORTGAGE RATE

+0.52 vs. Last Year

Found 114 entries about Real Estate Market.

Rising Ada County Home Prices & Shrinking Inventory: Hot Spring Real Estate Market Insights

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

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2023 Treasure Valley Real Estate Report: Stabilized Housing Market with Low Inventory and Reduced Rates

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,

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Boise Housing Market: Home prices stabilize on early demand boost

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

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Spring real estate recovery in Treasure Valley: Low home prices and mortgage rates may boost market

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

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Treasure Valley Home Prices Fall Despite Tight Supply

Treasure Valley home prices remain on a downward trend despite a rapidly shrinking supply of homes for sale.

Median home prices declined 5.7% in Ada County and 7% in Canyon County for the year ending in December.

In 2022, home prices remained positive on a year-over-year basis until November before ultimately finishing the year lower than where they had begun. This marked the first time since 2010 that home prices ended the year lower than where they started.

In January, the average 30-year mortgage rate was just over 3%. However, by the end of December, it had risen to 6.42%. This represents the largest increase for any calendar year on record.

The dramatic rise in rates shocked the system, ending the pandemic-driven housing boom. For

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Median Ada County home sales price declines

In November, Ada County home prices recorded their first year-over-year price decline since 2014.

On a month-to-month basis, home prices began falling in June but remained higher annually until now. The median home price in Ada County declined by 2.5% from last November. Prices in Canyon County eked out an annual gain of 1.4%.

Home prices have been under pressure this year as moves by the Federal Reserve to tame inflation have sent mortgage rates soaring.

Prices can rise and fall monthly, even when the overall price trend is higher (or lower). Many economists and real estate professionals focus on yearly comparisons to help smooth out that monthly volatility.

In the past few years, buyers saw the fall and winter months as an opportunity to

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Treasure Valley Home Supply Shrinks as Sellers Move to the Sidelines

In October, the supply of homes for sale dropped for the first time this year as rising mortgage rates and slowing appreciation continued to discourage potential sellers.

The number of newly listed homes plunged 30% from September, marking the fourth consecutive monthly decline. While it is not unusual to see a slight slowdown in late summer, new listings are also down nearly a third from last October, suggesting more than a seasonal shift.

Months’ supply of homes for sale in Ada and Canyon County slipped to 2.81 and 2.87, respectively, the first monthly declines since January.

As inventory decreased, Treasure Valley home prices increased. Ada County prices rose 5.1% from last October and jumped $21,000 just from last month. While home prices

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Boise Housing Market Gives Back 2022 Gains as Rates Hit 15-Year High

Treasure Valley home price appreciation declined to the lowest in eight years as rising interest rates sent affordability to multidecade lows.

Ada County and Canyon County home prices rose just 1% in the year ending in September—the slowest growth rate since 2014.

The two counties' combined sales declined to 1,043 from last year's 1,543, reflecting a shift in buyer sentiment and reduced affordability from rising rates.

Homebuyers have more choice and negotiating power compared to prior years, but monthly payments can create sticker shock.

The year began with near-record low inventory and years of pent-up demand, but rapidly rising interest rates have changed the equation for many would-be buyers.

Since January, mortgage rates have more

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Seasonality puts Treasure Valley housing market on edge

Treasure Valley home price growth continues to slow as volatile mortgage rates keep buyers on their toes, suppressing demand.

Ada County home prices rose 6.5% from a year earlier, while Canyon County prices gained 7.4%. While below the double-digit price increases we have become accustomed to in the last few years, 6-7% appreciation rates are above the Treasure Valley's long-term average.

Continuing the volatility we saw this summer, the average 30-year fixed mortgage rate increased to 5.89%—the third increase in as many weeks. Rates reached 5.81% in June before declining to 4.99% at the beginning of August.

Record low mortgage rates have been a significant driver of the demand we have seen since the beginning of the pandemic. Population

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Volatile mortgage rates slow demand in Boise's housing market

The supply of homes for sale in the Treasure Valley continues to rise as buyers are forced to contend with volatile interest rates.

Over the past year, Ada County home prices have risen 9.26%, while Canyon County’s are up 6.57%.

Even as prices remain well above last year’s levels, June’s sudden increase in mortgage rates sent July sales tumbling by one-third from the same period a year ago. While that is a notable decline, it appears to be more a result of recent interest rate fluctuations than a long-term trend.

Since the end of May, mortgage rates have bounced from 5% to over 6% and back again. At one point in June, rates rose 0.55% in one week, the biggest seven-day surge since 1987.

As you would expect, that's taken affordability and

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