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Real Estate Market

Boise Home Values

The median sale price for single-family houses in Boise, ID, from April 1st to April 30th was $525,000, as determined by 261 home sales. The average price per square foot in Boise was $314, reflecting an increase of 4.67% compared to the same period last year. Below is a summary of the Boise real estate market:

$525,000
MED. LIST PRICE

+5% vs. Last Year

$525,000
MED. SOLD PRICE

+5% vs. Last Year

261
TOTAL HOME SALES

+34 vs. Last Year

6 DAYS
TIME ON MARKET

-4 vs. Last Year

1.56
MONTHS OF SUPPLY

+0.4 vs. Last Year

6.99%
30-YEAR FIXED MORTGAGE RATE

+0.65 vs. Last Year

Found 116 entries about Real Estate Market.

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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Rising interest rates slow price gains in Boise’s housing market

Across the Treasure Valley are signs that the housing shortage is starting to ease as the supply of homes for sale rises to pre-pandemic levels.

Even as prices continue to move higher, appreciation rates (the annual change in home prices) are beginning to normalize, bringing much-needed balance to the Boise market.

Ada County’s median sale price rose 12.81% from a year earlier, and Canyon County’s rose by 4.95%.

Year-over-year price gains are down significantly from the 30%+ appreciation we saw in 2021, offering buyers some relief. Overall, it's a move to a much healthier market, putting us closer to the Treasure Valley's 5-6% long-term price appreciation average.

At the beginning of July, the total number of homes for sale rose to 2,081

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Home price in Ada County sets new record

Ada County home prices rose to a new record in May, with the cost of the typical home climbing above $600,000 for the first time.

With the supply still well below normal, homes across the valley are selling at breakneck speed. Half of all listings are on the market for less than a week, the second fastest pace for May in history.

The median single-family home sale price in Ada County finished the month at $602,250, increasing by $84,035 (16.22%) over the last 12 months. In Canyon County, the cost of the typical home rose by $52,735 (12.95%) to $459,990, the second-highest price ever recorded.

While spring is traditionally the busiest time of the year, rising home prices and mortgage rates have created a strong sense of urgency among would-be

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Ada County median home price nears $600,000

Treasure Valley home prices leaped to new records last month as buyers continue to outnumber sellers and listings remain elusive.

In another month for the record books, both Ada and Canyon Counties saw home prices rise over $20,000 from March to April.

Less than a year after crossing the half-million-dollar mark for the first time, the median home price in Ada County closed the month just $5,000 shy of the once unfathomable figure of $600,000.

The Boise metro area continues to see a fast-moving market, with half of all homes selling in less than 7 days, the second-fastest for any April on record. Open house activity remains strong, and multiple offers are typical on the most sought-after new listings.

We are in the heart of Spring Selling

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Buyers Ignore Soaring Mortgage Rates, Send Boise Prices to New Records

Home prices are soaring to new records amid fierce competition and rising mortgage rates as Ada and Canyon County entered the Spring Selling Season at a full sprint.

While appreciation had slowed for most of the past year, last month brought a staggering acceleration of median home prices never seen before.

Boise saw a $25,000 jump, marking the first time in history that prices have shifted that dramatically in just a month. Ada County also saw a $25,000 increase while Meridian’s month-over-month prices spiked by $47,000. In Canyon County’s “typically more affordable” market, prices rose $19,000.

Overwhelming demand continues to outpace the critically-low supply of available properties, pushing sales to new extremes as sellers enjoy multiple

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Treasure Valley real estate market supply strained heading into spring

The Treasure Valley’s severely-low housing supply continues to stoke a hyper-competitive real estate market, sprouting new sales prices records across Ada and Canyon County.

February’s frigid market is historically slow to thaw, but the new, widespread peaks—primarily caused by a lack of for-sale signs—point to a scorching Spring Selling Season.

Available home supply remains at a critical level, forcing price jumps as relentless demand continually outstrips resale listings. In new construction, supply bottlenecks, land shortages, material delays, and labor scarcity are combining to extend build timelines, further reducing home inventory.

As the Treasure Valley braces for a fast-approaching Spring, climbing mortgage rates and extraordinarily

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Critical housing shortage persists in 2022 Boise housing market

Boise rang in the first month of the New Year with a median price record as the Treasure Valley's home supply retests all-time lows.

The supply shortage is squeezing home buyers from all sides as a severe lack of inventory pressures choices, pinches budgets, and pumps prices. Mortgage rate jumps are leading to brisk sales as rising interest rates reduce affordability.

Ada County finished January with a median single-family home price of $539,995, up $90,665 in the last twelve months.

To add a bit of perspective, from 2005 to 2021, we saw home prices rise at an annual rate of 6%. Ada County buyers started 2022 contending against a 20.18% year-over-year jump.

  • Canyon County finished January with a median sale price of $424,900, a new
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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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