As we wave goodbye to 2024, the real estate landscape in Boise and the surrounding Treasure Valley offers a mix of stable prices and enticing incentives for prospective buyers. Analyzing recent data from Ada and Canyon Counties provides us with insights into what we might expect this year. Here are the Boise Real Estate Market Trends for February 2025.
Looking Back at Boise Real Estate Market Facts/Trends from 2024:
Ada County Trends in Selling Prices
As of December 2024, approximately 31% of homes in the Boise metro area sold for full asking price or above, a rise from about 28% in 2023. Nearly 70% of homes sold below the original asking price. Homes that sold at the asking price or higher typically spent about three days on the market, highlighting their high desirability due to sought-after features, locations, or competitive pricing. Conversely, homes that sold below asking lingered nearly 30 days on the market, with about half requiring a price reduction to attract buyers. In Ada County, December saw a slight dip in the median sales price for existing homes, while new homes experienced a modest increase, indicating a diverse market response. January we are yet to see how the market will react as homes slowly trickle on to the market. Specifically, the median sales price for new homes was $534,818, slightly higher than existing homes at $520,000. Notably, new construction sales, representing 42% of all home transactions, are drawing interest with higher-end properties finding particular favor.
Canyon County Market Snapshot: 2023 vs. 2024
In Canyon County as of December 2024, 26% of homes sold for the full price or more, a slight decrease from 30% the previous year. Homes that exceeded asking prices took about 7 days to go pending, mirroring 2023’s data. In contrast, 74% of homes sold below the asking price, with an average of 35 days to go pending. Increased new construction contributes to longer market durations as homes are often listed well before construction commences. Canyon County reported a slight decrease in the median sales price to $408,562, with existing homes holding a median of $380,000 and new homes at $439,480. The county saw robust sales in the resale market, highlighting a strong preference for more affordable housing options. January has had a good start with more inventory coming on the market than in past years, mostly due to builders releasing more new construction, but home prices have remained where they were at the end of the year.
Trends and Predictions for 2025
Both counties show signs of a more balanced market with an inventory indicating healthy activity yet no significant price jumps are expected soon. The real estate market is predicted to remain stable, with new construction appealing due to attractive builder promotions.
Buyers’ Corner
2025 opens with fantastic opportunities for buyers, especially with builders offering promotions that can include up to $35,000 in incentives. These incentives can be applied towards buying down interest rates, covering closing costs, or upgrading features in new homes. Current interest rates are critical to monitor, and shoppers should compare rates and terms from multiple lenders to find the best fit for their financial situation. Areas to look at are Star in Ada County, Nampa, and Caldwell in Canyon County as we see a lot of builders in the process of completing builds in new communities in those areas. These are also areas with a lower median price than their surrounding neighbors and with interest rates hovering in the 7% a lower price tag is very appealing to many buyers.
In today’s market, Buyers should consider asking for seller concessions to buy down their interest rate or cover closing costs to make home buying more affordable.
Sellers’ Advice
For sellers, the market demands a strategic approach to pricing. Homes priced too high at the outset are likely to linger longer on the market, potentially selling for less eventually. Patience will be key this year as buyers take more time to commit and may request concessions in negotiations. The advice is clear: price correctly from the start to capture buyer interest and maintain sales momentum. Seller’s should work with agents that know their neighborhood and have experience selling homes in today’s more fickle market. Three main factors will help any home to sell: 1. Effective Marketing. A home should look its best online and in person and target the right audience through real estate portals, advertising, social media and networking. 2. Timing. Putting a home on the market with a lot of competition will slow down the process. Time of year can make a difference such as listing during the holidays you can expect a home to sit for longer on the market with fewer buyers actively looking for homes during this period. 3. Pricing. If a home is priced competitively or slightly under the competition it will go quicker than other homes listed.
Areas that are attracting a lot of buyers and often getting asking price or above are East Boise, Boise Bench, and Boise’s North End as unique homes in highly sought-after areas are popping slowly onto the market. Meridian is highly desirable as home prices are often slightly less than in its neighbor, Boise’s home prices.
There are 3 factors that sell homes in today’s market: Effective online marketing, Timing and Pricing.
Summary
As we navigate through 2025, both buyers and sellers in Boise and Treasure Valley must stay informed and adaptable. With stable home prices and exciting incentives on the table, this could be an opportune time for many to make their move in the real estate market. Whether buying your first home or selling one with years of memories, aligning with experienced real estate professionals will ensure you’re positioned for success in this dynamic environment.
Talk to an Expert
In a fluctuating market, it’s essential to consult a real estate professional who deeply understands local dynamics. Online opinions and advice from acquaintances may be well-intentioned but can lead to costly mistakes. For personalized guidance on navigating Boise and the wider Treasure Valley market, consider scheduling a consultation with Jennifer Louis, your Boise Metro Area Real Estate Expert. Contact me at (208) 509-9122 or via email at [email protected].
