The Boise real estate market continues to show resilience and steady growth. Here's an overview of the latest trends:
Home Prices
- Ada County: The median price for a single-family home has risen to $539,200, marking a 5.1% increase compared to last year.
- Canyon County: Home prices have climbed by 6.3%, reaching a median of $424,995.
- Ada County: There are currently 1,257 homes for sale, reflecting a 17.6% increase from the previous year.
- Canyon County: Inventory has risen by 28.2%, with 905 homes available on the market.
- Despite the increase in available homes, buyer demand remains steady.
- Mortgage rates are holding in the high 6% range, maintaining affordability challenges for some buyers.
- Builders are responding to market conditions by offering incentives up to $35,000, which can be used for interest rate buy-downs, closing costs, or home upgrades.
- The Boise housing market is expected to remain stable throughout 2025, with factors such as inflation, construction costs, and mortgage rates playing key roles.
- The region's strong economy and desirable living conditions continue to make it a sought-after housing market.