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

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

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

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.

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

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

Remember that spike in demand we saw right after the holidays? It’s now hitting buyers in their bank accounts. Both Ada and Canyon counties set another round of new sales price records in February. In fact, the median sales price actually jumped by $29,000 in Canyon County, reflecting the largest monthly increase ever recorded.

The median sales price in Ada County hit $452,750 in February, a 39% increase over last year’s median price of $324,950. In the past year, the number of available listings has also dropped from 1,347 to just 303 homes. For context, we’re talking about a county with more than a half-million residents, and growing.

In Canyon County, the new median sales price record hit $368,000. Not only does that represent a $29,000 jump

Imagine sitting on a roller coaster that is climbing up, up, up… and waiting for a fall that never comes. The last year in Treasure Valley real estate has felt a lot like that climb, as median home prices continue to log double-digit increases, leaving everyone to wonder, “how high will this ride go?”

In January, home prices in the Boise Metro area once again set new records as frenzied buyers fought over scant inventory, driving up already historically high prices. The median single-family home price in Ada County hit $449,330 in January, closing in on the $450,000 mark for the first time. That’s an increase of 23.78% or $86,000 in just 12 months.

• The Canyon County median home price jumped to $339,000. That’s an annual increase of 33.36% in

With only weeks of available inventory and homes selling in a median of 6 days, it’s no surprise home prices are continuing to skyrocket across the Treasure Valley.

We said goodbye to 2020 and rang in the new year with another round of record-high prices across the valley. In December, Ada and Canyon county and the cities of Boise, Meridian and Nampa all broke previous price records.

Over the past year, the median home price in Ada County rose by more than $82,000, a 23.6% increase to $432,462. Canyon County home prices increased by a whopping $85,000 since last December, a 33.3% jump to $339,900. Not to be outdone, the cost of the typical home in Boise increased by $86,000, or 25.6% to $420,750.

Fortunately for home sellers (and less so for

At the beginning of 2020, no one could have predicted that within months the world would be battling a once-in-a-lifetime pandemic, which would cripple both national and global economies. It was nearly inconceivable that local governments would be forced to limit or entirely shut down many business activities and that unemployment would rise to levels not seen since the Great Depression.

Just as no one could have predicted that national home sales would hit 14-year highs during this same time period, ringing in new price records in every major American city.

While it seems counterintuitive, what we’re seeing is two sides of the same coin. For better or worse, the roaring twenties have indeed arrived, and in Treasure Valley real estate at least,