September capped a strong summer for the Boise real estate market.
Ada County’s median sold price climbed 3.6% to $575,000 in September. In Canyon County, the median home price was $443,523, up 5.1% from last year.
Home sales in Ada County were the strongest for any September since 2021, with 855 closings, up 7.8% from a year ago. Canyon County sales were essentially flat year over year.
What hasn’t kept pace is supply. Ada County ended September with 2.50 months of inventory, down from 3 months a year ago. In Canyon County, supply dipped to 2.69 months from 2.85 a year earlier.
Market times shortened in both counties. The median days on market or the time it takes to sell a home fell from 26 days to 14 in Ada County and from 47 days to 33 in Canyon County. Buyers have considerably more choice today, but supply is still limited enough and homes are still moving quickly enough to keep prices above year-ago levels in both counties.
By the end of September, mortgage rates had moved sharply higher.
According to Freddie Mac, the average 30-year fixed mortgage rate climbed from 6.76% on September 10 to 7.40% by October 8, an increase of nearly two-thirds of a percentage point in four weeks.
As rates moved back above 7%, reports of slower buyer traffic began to emerge heading into October. Homes typically go under contract several weeks before they close, so many of September’s sales reflect purchase decisions made before mortgage rates increased. The effect of higher borrowing costs is more likely to show up in the coming months.
What happens next with mortgage rates isn't clear. The Federal Reserve raised its benchmark rate by a quarter percentage point in September, and minutes released October 7 indicated another increase could be appropriate before year-end, although future decisions will depend on incoming economic data. Mortgage rates do not move directly with the federal funds rate, but expectations for monetary policy and Treasury yields influence borrowing costs.
Recent history shows how quickly higher rates can change buyer activity without necessarily upending the market. Rapid increases in mortgage rates in both 2022 and 2023 pulled buyers back, but they did not eliminate demand. The market adjusted to a smaller pool of buyers, while limited supply helped keep it from simply unraveling.
The impact on affordability adds up quickly. At today’s average rate, a buyer targeting Ada County’s $575,000 median-priced home and putting 20% down would lose roughly $39,000 in purchasing power compared with rates in early September, assuming the same principal-and-interest payment. For buyers who can still afford the payment, rising rates and broader economic uncertainty can also make them more hesitant to move forward.
The timing of the latest rate increase matters, too. Fall typically brings fewer buyers into the market as inventory nears its seasonal peak and activity tapers toward the end of the year. This year, that normal seasonal shift is arriving at the same time borrowing costs have increased sharply.
By the Numbers: 2026 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
Median days on market measures how long it takes for homes to go under contract. A lower number suggests stronger buyer demand and a faster-moving market, while a higher number indicates homes are taking longer to sell.
Boise Market Trends
- Median list price: $529,900 (down 4.1%)
- Median sold price: $525,000 (down 5.8%)
- Average price per square foot: $331 (up 5.1%)
- Total home sales: 305 (up 15)
- Median days on market: 12 (down 6)
- Available homes for sale: 1.72 month supply (down 0.76)
- 30-year mortgage rate: 7.40% (up 1.05)
Treasure Valley Market Trends
- Ada County: $575,000 (up 3.6%)
- Eagle: $848,563 (down 11.4%)
- Garden City: $474,450 (up 11.8% — fewer than ten sales)
- Kuna: $476,000 (up 6%)
- Meridian: $575,000 (up 11.7%)
- Star: $642,688 (up 12.4%)
- Canyon County: $443,523 (up 5.1%)
- Caldwell: $412,450 (up 3.2%)
- Middleton: $469,990 (up 2.2%)
- Nampa: $434,945 (up 4.8%)
More From Our Blog
Select information in this We Know Boise market report was obtained from the Intermountain MLS (IMLS) on October 6, 2026. 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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