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Real Estate Market

Boise Home Values

The median sale price for single-family houses in Boise, ID from November 1st to the 30th is $473,000 based on 215 home sales. The average price per square foot in Boise is $287, a decrease of 2.05% compared to twelve months ago. Boise real estate market summary:

$485,000
MED. LIST PRICE

-2.34% vs. Last Year

$473,000
MED. SOLD PRICE

-4.44% vs. Last Year

215
TOTAL HOME SALES

-181 vs. Last Year

28 DAYS
TIME ON MARKET

+13 vs. Last Year

2.11
MONTHS OF SUPPLY

+1.23 vs. Last Year

6.81%
30-YEAR FIXED MORTGAGE RATE

+3.74 vs. Last Year

Found 98 entries about Real Estate Market.

New Records As Boise Area Home Prices Surge Over 20% in 2021

Relentless demand, combined with a seasonal slowdown in new listings, sent Ada County home prices to a new record in December.

The median single-family home price in Ada County rose to $546,000 in December. Climbing nearly $114,000, or 26%, from the previous year, it marks a new peak.

Idaho’s most populous county is not alone. Home prices have made double-digit jumps throughout the Treasure Valley.

  • Canyon County home prices rose $80,000 through 2021, ending at $419,480. That’s a 23% year-over-year leap and just $4,000 below the record.
  • Boise home prices tied August’s record of $510,000, an increase of nearly $90,000 (21%) from just twelve months ago.
  • Meridian’s prices rose to their second record in as many months, finishing December
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Boise Real Estate Market 2021

A plunge in new listings sent Ada County home prices to near-record highs in November.

Across the Treasure Valley, supply is shrinking fast due to continued strong demand from buyers and a sharp drop in new listings.

The median home price in Ada County rose to $538,450, just $1,500 shy of the all-time record set in July. Over the last 12 months, prices have risen $111,000, or 26%.

In neighboring Canyon County, the median home price rose to $409,450, up $84,000, also a 26% increase from the year prior. Prices in the county are down 3.4% from the record high set in June–in line with the seasonal trends we typically see this time of year.

In recent months, we have seen a return to the seasonal trends of slowing home price gains in the fall.

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Treasure Valley Home Prices Flat on Sudden Drop in Supply

Home prices in both Ada and Canyon Counties remained virtually unchanged from September. Continued strong demand from buyers and a decline in the supply of homes for sale is keeping upward pressure on prices.

In Ada County, the median single-family home price rose to $533,950, up $124,000, or 30%, from October of 2020. In lower-cost Canyon County, prices rose to $423,445, up just over $102,000, or 32%, notably just missing a new record by $550. In both counties, home prices are below the highs set over the summer, but both finished the month higher than August.

Most years, the local housing market follows a seasonal trend: Prices and inventory tend to rise in the spring and summer months before falling in autumn. Of course, as with many other

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Boise-Area Home Prices Hover at Near-Record Levels

Driven by a short supply of new listings, Treasure Valley home prices continue to hover at near-record levels. The Ada County median single-family home price rose to $534,950 in September, up 31% from last year and $4,450 from just last month. Homebuyers in Canyon County faced a median home price of $422,000 – a 36% annual increase and up $11,500 from August. Both counties finished September with their second-highest price to date.

Let’s take a closer look at data from several of our local markets.

  • Boise’s median single-family home price was $495,000 in September, a $100,000 jump (up 26%) from last year.
  • Meridian set a new median sales record with $546,000. That’s $146,000 over last September’s sales price, or a 37% increase.
  • Hitting
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Tight Supply Points to Higher Boise Home Prices

Boise-area homebuyers have slightly more room to breathe as we transition into fall, thanks to a small influx of inventory in August, coupled with a bit less demand for housing. But don’t breathe too deeply – this isn’t to say that the market is balanced. It’s still very much a seller’s market and will likely remain that way for the foreseeable future, for reasons we’ll outline below.

But first, let’s dive into last month’s data. The median single-family house price in Ada County was $530,500 in August, which represents a 33% increase (or $130,000) from a year ago. While the median home price slightly declined from the month prior – marking the first price decrease we’ve seen since May of 2020 – it’s still the second-highest price on record for the

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Boise Buyers’ Options Grow As Listings Leap for the First Time in a Year

Treasure Valley buyers can finally come up for a breath of air, as housing inventory rose to its highest level in more than a year in both Ada and Canyon counties. Canyon County listings hit 607 in July, a 76% increase over last year’s 344 listings. Ada County saw active listings rise to 1,014 last month, up from 768 the year prior – or a 32% increase.

Also for the first time in over a year, both counties boasted more than one month’s supply of current inventory. The sudden influx of homes for sale is partly due to seasonal factors. It’s also thanks to the rush of homeowners who put off selling last year but are now ready to list.

While one month of inventory is still a far cry from the four to six months typically seen in a balanced market, the

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Home prices in the Boise real estate market

Every major housing market in the Boise metropolitan area set a new median sales price record in June, thanks to a decades-in-the-making housing shortage and voracious buyer demand.

Ada County hit its 12th consecutive month of record-setting prices in June with a median sales price of $524,950, a 40% increase over the previous year. Canyon County also set a new sales price record of $424,000, which marks a 49% annual increase. It’s also the 11th price record the county has set in the past year.

All of the Treasure Valley’s largest housing markets also set new records:

  • In Eagle, the median sales price hit an eye-watering $849,000, a 56% annual increase.
  • Boise’s median sales price hit $500,000 for the first time, a 39% jump.
  • Meridian’s
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Boise median home price tops $500,000

The newest sales data shows that prospective buyers in the Treasure Valley who hesitate are costing themselves dearly, with home prices up more than $36,000 in Ada County just since last month. The year-over-year data paints an even starker picture of this once-in-a-lifetime seller’s market.

Treasure Valley home prices blew past two new records in May. The median sales price in Ada County hit a record of $518,215 (up $156,000 or 43% from last year). This marks 12 straight months of pricing records and the first time across the half-million-dollar threshold. Meanwhile, Canyon County also set a median sales record of $407,225 (an annual increase of $131,500 or 48%). The county marked new price records for every month except one in the last year.

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Rising Construction Costs Intensify Treasure Valley Housing Shortage

Boise area home prices hit new highs in April, thanks to strong demand from homebuyers and continued near record-low supply.

If you’ve spent any time online looking for homes, or have taken a drive looking for “For Sale” signs, you’ve noticed: we are suffering from a stark lack of inventory in the Treasure Valley. This continues to limit the number of homes for sale – and help drive prices up.

While the number of available homes is slowly recovering from the height of the pandemic, total home sales remain well below levels you’d expect to see. Especially when you take into consideration that Ada and Canyon counties added 23,890 residents in the past year.

The combination of record-high prices, record growth, and near record-low sales is

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Boise-Area Home Prices Soar $100,000 in Twelve Months

House prices set new records across the Treasure Valley in March, as buyers hit the spring selling season in force. Scarce inventory continues to plague the market – in March, Boise only had a one-week supply of housing on the market. Ada County had about ten days and Canyon County had under two weeks. It's not just a seller's market; it's a savage seller's market.

But even with our short supply, the monthly and yearly gains we’re seeing in sales prices are staggering. The average annual appreciation we’d expect to see for a home is around 4%. Instead:

  • The median sales price in Ada County hit a new record of $469,250 in March, rising by more than $100,000, or nearly 28%, in just one year.
  • Boise's median cost of a single-family home rose to
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