February 2025 Market Report

ADA COUNTY

Median Sales Price ($)

• February 2024
• February 2025

• February 2024
• February 2025

There continues to be around a $30K difference in the Median Sales Price of new vs. resale homes, where new homes are priced higher. This gap has been consistent for the last three months despite changing sales volume.

Days on Market

• February 2024
• February 2025

• February 2024
• February 2025

Older resale homes (10+ years old) across Ada seem to have the lowest days on market, the majority have been on the market under 30 days.

Inventory

• February 2024
• February 2025

• February 2024
• February 2025

Like January, over half of homes in inventory are new homes. 86% of these new homes in inventory are located outside of Boise.

CANYON COUNTY

Median Sales Price ($)

• February 2024
• February 2025

• February 2024
• February 2025

Most resale homes sold in February (54%) were in Nampa and priced $20K lower and more likely to have smaller square footage than similar homes sold last month.

Days on Market

• February 2024
• February 2025

• February 2024
• February 2025

A group of 8 new homes sold this month were on the market over 200 days, affecting new build’s average.

Inventory

• February 2024
• February 2025

• February 2024
• February 2025

Resale homes added to inventory this month are mostly over 20 years old and located outside of Caldwell and Nampa. Despite being on the market under 30 days, they appear to have already reduced in list price.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

January 2025 Market Report

ADA COUNTY

Median Sales Price ($)

• January 2024
• January 2025

• January 2024
• January 2025

When compared to December, a larger proportion of homes sold were new homes in January.

Days on Market

• January 2024
• January 2025

• January 2024
• January 2025

Nearly half (43%) of homes sold in January were on the market 30 days or less.

Inventory

• January 2024
• January 2025

• January 2024
• January 2025

A slight increase in resale home inventory was offset by a small decrease in new home inventory. This is the first MOM increase in resale inventory since August 2024.

CANYON COUNTY

Median Sales Price ($)

• January 2024
• January 2025

• January 2024
• January 2025

Median Sales Price increased by 4%, the largest increase seen since May 2023. The increase in Median Sales Price was more significant for resale homes.

Days on Market

• January 2024
• January 2025

• January 2024
• January 2025

Days on Market increased by 6 days on average in January.

Inventory

• January 2024
• January 2025

• January 2024
• January 2025

Currently 866 homes in inventory and 35% have been on the market more than 90 days.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

December 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• December 2023
• December 2024

• December 2023
• December 2024

The MSP of these homes in December was $10K less than similar aged homes sold in November.

Days on Market

• December 2023
• December 2024

• December 2023
• December 2024

New homes sold in December were on the market longer than existing homes.

Inventory

• December 2023
• December 2024

• December 2023
• December 2024

Inventory of existing homes continues to decrease at a faster rate than inventory of new homes (28.7% drop compared to 4.5%). Currently, 57% of all homes in inventory are new homes.

CANYON COUNTY

Median Sales Price ($)

• December 2023
• December 2024

• December 2023
• December 2024

The Median Sales Price (MSP) dipped slightly (1.6%) in December.

Days on Market

• December 2023
• December 2024

• December 2023
• December 2024

New homes sold in December were on the market longer than existing homes.

Inventory

• December 2023
• December 2024

• December 2023
• December 2024

A healthy inventory of new homes appears to still be present in December and priced very similarly to those that are currently pending.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

November 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• November 2023
• November 2024

• November 2023
• November 2024

The median price of new homes sold in November decreased by $52,000, the lowest MSP for new builds since March 2023. New homes sold continue to be more affordable for buyers than existing homes.

Days on Market

• November 2023
• November 2024

• November 2023
• November 2024

Days on market was unchanged for resale homes in November and increased by one day on average for new homes sold.

Inventory

• November 2023
• November 2024

• November 2023
• November 2024

Total volume of resale homes sold decreased by 19.3% in November — along with a decrease in inventory — pointing to a cooling market as we head toward winter.

CANYON COUNTY

Median Sales Price ($)

• November 2023
• November 2024

• November 2023
• November 2024

The MSP for existing homes increased in November for the first time since June. When comparing resale homes sold in November versus October, the square footage and acreage between the two sets of homes is similar.

Days on Market

• November 2023
• November 2024

• November 2023
• November 2024

The average days on market increased by 5 days for new homes and 7 days for resale homes.

Inventory

• November 2023
• November 2024

• November 2023
• November 2024

This is the third straight month of inventory decline for new homes and the fifth straight month of inventory decline for resale homes, but inventory remains above levels seen in November 2023.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

October 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• October 2023
• October 2024

• October 2023
• October 2024

The Median Sales Price increased slightly this month, driven by an 8% increase in the median price of new construction homes.

Days on Market

• October 2023
• October 2024

• October 2023
• October 2024

Single-family homes’ Days on Market declined slightly, nudged by a 12%+ dip in Days on Market for new homes.

Inventory

• October 2023
• October 2024

• October 2023
• October 2024

The resale homes that remain in inventory have been on the market for over two months on average.

CANYON COUNTY

Median Sales Price ($)

• October 2023
• October 2024

• October 2023
• October 2024

Median Sales Price declined slightly in October. This decline in sales price was seen with both new and existing (resale) homes.

Days on Market

• October 2023
• October 2024

• October 2023
• October 2024

A significant portion of resale homes continue to be sold within the first 30 days. For new homes, over 30% were on the market for over 90 days in October driving that average up.

Inventory

• October 2023
• October 2024

• October 2023
• October 2024

Inventory of new homes and resale homes both declined in October, but remain higher than this time last year.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

September 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• September 2023
• September 2024

• September 2023
• September 2024

Of the 716 homes sold in Sep, 55 of them were sold for more than $1 million with an average DOM of 34.9 days.

Days on Market

• September 2023
• September 2024

• September 2023
• September 2024

Market demand had no impact on speeds, however. Lengthened DOM created the right circumstance for Ada’s MSI to keep steady in September.

Inventory

• September 2023
• September 2024

• September 2023
• September 2024

With less options and an increase in pending activity, it is no wonder that we saw a MOM boost in resale’s MSP.

CANYON COUNTY

Median Sales Price ($)

• September 2023
• September 2024

• September 2023
• September 2024

New build’s MSP argues with other market trend data. With lower sales (pending and closed), we would’ve expected a similar or lower MSP from the previous month but inventory drops pinched pricing for the month.

Days on Market

• September 2023
• September 2024

• September 2023
• September 2024

With the combination of inventory and market speeds, Canyon’s MSI is the closest it’s been to a “balanced” since Nov 2015. Since then, the market has been increasingly starved for supply.

Inventory

• September 2023
• September 2024

• September 2023
• September 2024

With a dip in sold units and pending contracts, Sep’s new construction inventory slip means there was a slight slowdown in new units coming on the market. This marks the first MOM slide in inventory since Feb 2024.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

August 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• August 2023
• August 2024

• August 2023
• August 2024

Resale homes got another breather from MSP increases and slipped by another $15k compared to Jul 2024. This marks the second month of easing prices from Jun’s $599k MSP for resale.

Days on Market

• August 2023
• August 2024

• August 2023
• August 2024

Consistent with slower seasonality, stretching market times can be expected.

Inventory

• August 2023
• August 2024

• August 2023
• August 2024

Townhome listings in Ada are at a historical high with 153 available units.

CANYON COUNTY

Median Sales Price ($)

• August 2023
• August 2024

• August 2023
• August 2024

With a reprieve from demand (in sold homes) and current inventory, the overall market was able to approach the more affordable MSP we saw in Feb 2024.

Days on Market

• August 2023
• August 2024

• August 2023
• August 2024

While the distance between resale and new build market speeds remains far, the MSI isn’t.

Inventory

• August 2023
• August 2024

• August 2023
• August 2024

Inventory has been on the rise in Canyon County since Jan 2024, amounting to over 1k units for the past 4 months.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

July 2024 Market Report

ADA COUNTY

Median Sales Price ($)

• July 2023
• July 2024

• July 2023
• July 2024

The MSP for single-family and resale homes rebounded from Jun 2024. Single-family homes slipped by nearly $25k and resale homes shrank by over $59k from Jun to Jul.

Days on Market

• July 2023
• July 2024

• July 2023
• July 2024

In Jan, the market speeds for both resale and new construction were nearly identical but now new builds are remaining on the market nearly twice as long as existing homes.

Inventory

• July 2023
• July 2024

• July 2023
• July 2024

July marked the highest single-family inventory in 20 months.

CANYON COUNTY

Median Sales Price ($)

• July 2023
• July 2024

• July 2023
• July 2024

Even with the $7k MOM dip, resale’s MSP remains above 2023’s MSPs.

Days on Market

• July 2023
• July 2024

• July 2023
• July 2024

Similar to Ada County, the chasm between resale and new construction’s market speeds has stretched since late Summer 2023.

Inventory

• Single-Family Homes
• Existing/Resale
• New Construction

• Single-Family Homes
• Existing/Resale
• New Construction

We’re nearly double July 2023’s options.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS