Ada County's Housing Market Gains Momentum as Home Prices Jump 6.3
We Know Boise Blog
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2w ago
In February, Ada County home price gains accelerated, primarily due to a scarcity of available properties. Median home prices in Ada County jumped 6.3, reaching $522,000—the largest yearly gain since August 2022. In neighboring Canyon County, prices rose 5.1 to $409,818. Despite decreased demand compared to the post-pandemic years, the Treasure Valley real estate market remains more competitive than in 2023. A December mortgage rate dip reignited buyer interest, contributing to rising prices last month. Home prices in Boise fell by 1.2 to $478,200. However, this decline is primarily due to the ..read more
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Falling Rates, Fewer Homes, Rising Demand Sets Stage for Treasure Valley Home Sellers
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1M ago
Falling mortgage rates are drawing buyers back to the Treasure Valley housing market, where a dwindling supply of homes is fueling intensified competition. Demand has increased across all price points, with properties below $500,000 experiencing particularly fierce competition, often leading to bidding wars. Despite growing interest from homebuyers, the market has fewer homes available now than last February. Currently, 1,775 homes are for sale in Treasure Valley, representing a 10 yearly decline. In January, the median house price in Ada County rose by 5.8 year-over-year, representing the lar ..read more
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Boise Market Springs Early: Lower Mortgage Rates Spark Early Buyer Interest
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2M ago
Yearly price gains, falling inventory, and plunging mortgage rates are combining to create a favorable market for Treasure Valley home sellers in 2024. Presently, there are 1,915 homes for sale in Treasure Valley, representing a 21 decrease from last year. Given the current sales pace, the market has less than a two-month supply of homes, creating an imbalance that will intensify competition among buyers. New listings tend to jump in April as move-up buyers enter the market. However, as supply usually reaches its lowest point in February, inventory will continue tightening, at least for the ne ..read more
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Ada County Rebounds: First Year-Over-Year Home Price Gain Since October 2022
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3M ago
In November, Ada County witnessed its first year-over-year price increase since October 2022. After hitting a two-year low this spring, local home prices have steadily risen amid a persistently tight supply. Rising interest rates have done little to dampen home prices. Conversely, they've kept prices higher by discouraging current homeowners from selling. Typically, existing homes constitute most available listings. However, with fewer people moving, this important source of supply has dwindled. In Ada County, the median home price in November rose by 1 from the previous year, reaching $529,99 ..read more
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Rising Rates, Rising Prices: Ada County’s Housing Market Defies the Odds
We Know Boise Blog
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5M ago
Despite mortgage rates reaching multi-decade highs in October, home prices in Ada County continued to march higher, rising for the second consecutive month. The median price of a single-family home in Ada County climbed to $539,990 last month, marking an 11.3 increase since January. After reaching a 2023 high in September, home prices in Canyon County fell to $400,000, up 1.2 year-to-date. Throughout the spring and summer, high-priced properties with unique features and prime locations were frequent subjects of bidding wars. More affordably priced homes sold quickly—often within days. For many ..read more
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Tight Supply Supports Ada County Home Prices Amid Rate Hikes
We Know Boise Blog
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6M ago
Ada County's home prices, which plummeted by 16 year-over-year in March, have made a surprising rebound, ending September at nearly the same figures as the previous year. This stability amidst rising mortgage rates paints a captivating picture of the current housing market's resilience. In Ada County, the median single-family home price fell just 0.9 from a year earlier, settling at $535,000. Home prices in Canyon County declined 2.6 to $415,990. Both counties saw a more than 2 increase from the previous month. In the Treasure Valley, there are currently 2,333 homes for sale, a staggering 37 d ..read more
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Mortgage Rates Skyrocket: The Impact on the Treasure Valley's Housing Momentum
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7M ago
After a surge earlier this spring, home prices in the Treasure Valley have begun to show signs of moderating. This shift can be partly attributed to the return of pre-pandemic seasonal trends and the looming threat of rising interest rates. From July to August, the median single-family home price in Ada County fell by $20,000, settling at $520,000. This decrease can be credited to the re-emergence of seasonal patterns and a variation in the types of homes sold during the month. Conversely, the median price in Canyon County saw a slight increase, reaching $405,000. Since January, home prices ar ..read more
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The Balance Shifts to Sellers: Ada County's 2023 Housing Market in Perspective
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8M ago
Despite softer demand, a limited supply of homes for sale has driven Ada County housing prices higher in 2023. Since the beginning of the year, prices in Ada County have surged by 11, with some sought-after neighborhoods experiencing even larger gains. In contrast, Canyon County has experienced a more modest 3 increase. While this year's demand is lower than in previous years, the supply is even scarcer, leading to rising prices. Except for the 2020–21 period, there are fewer homes on the market now than in any August over the last decade. At the end of July, the median price of a single-famil ..read more
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Ada County Home Prices Leap 12 From Start of Year Amid Inventory Crunch
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9M ago
Home prices in Ada County rose again in June, accompanied by a yearly 36 decrease in the availability of homes for sale. This highlights the fierce competition over the diminishing supply of low-priced homes. The median price of a single-family home in Ada County fell 8 from the previous year, reaching $544,881 in June. Canyon County also experienced a decrease, with prices dropping 9 to $405,000. While home prices remain below year-ago levels, a limited supply of homes has led to steadily higher prices since the beginning of the year. Since January, prices in Ada County have risen by 12.3, wh ..read more
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Home Prices Bounce Back: Ada County Prices Rise $53,000 in Just Two Months
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10M ago
Treasure Valley home prices witnessed another surge in May. The ongoing scarcity of available homes intensified competition among buyers, particularly for the lowest-priced properties. Home prices in Ada County jumped by $36,000 between March and April, followed by an additional increase of $17,000 in May. That's a remarkable $53,000 increase in just two months. Over the past year, the number of resale listings has fallen. Homeowners are reluctant to let go of low mortgage rates and have hesitated to sell. Additionally, a slowdown in new construction activity last fall means fewer new homes ar ..read more
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