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]. 

The temperatures are dropping, but not so for home prices in the Treasure Valley. Contrary to cooler weather expectations, we’ve actually experienced a slight increase in home values from 2023, along with a rise in market listings compared to last year. What does this mean for us as we look ahead to 2025? Let’s dive into today’s market indicators to forecast what might be on the horizon.

Take a Look at the Boise real estate market update December 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. Conversely, nearly 70% of homes sold below the original asking price. Homes that fetched the asking price or higher typically spent just 3 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. Effective pricing from the outset can significantly impact final sale prices.

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.

Boise Real Estate Market Insights

Despite interest rates not dropping as anticipated, the Ada and Canyon Counties market has remained stable since the slowdown two years ago. Predictions indicate Boise home prices may surpass those in cities like Portland and Denver over the next decade, driven by incoming residents. As 2025 approaches, expect homes priced competitively or in desirable locations to sell quickly. Average market days might exceed 30, with sellers likely facing buyer requests for closing cost concessions or interest rate buy-downs. It’s common for buyers to start with lower offers, anticipating a negotiation.

Tips for Sellers: Pricing and Market Strategy

• Current Market Comparables: Homes should align with the prices of similar properties in the area to avoid low appraisals and potential sales jeopardies.
• Overall Costs and Desired Net Gains: Factor in all expenses and set your price to leave room for buyer negotiations or to attract multiple offers.
• Move-In Ready vs. Fixer Uppers: Homes ready for immediate move-in attract more buyers. If selling a fixer-upper, ensure the price reflects its condition to encourage offers.

For the Buyers: Time to Move.

The Boise market is vibrant, with slightly rising inventory offering more choices. Act swiftly—properties, especially in sought-after areas like the North End or East Boise, are selling fast. Be prepared with a clear list of must-haves and pre-arranged paperwork.

For the Sellers: Shine and Polish!

If you’re selling this December, make your home stand out. Tidy up, declutter and address any lingering issues to impress potential buyers. Correct pricing initially is crucial for a swift sale. Keeping abreast of Boise’s ever-changing market conditions is vital, whether buying or selling. Regular updates will enable you to navigate confidently and effectively.

Whether you’re on the buying side or the selling side, staying informed is your secret weapon. Market trends in Boise can shift as quickly as our mountain weather, so staying connected and on top of the latest stats, shifts, and success stories will help you navigate the market confidently and capably.

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] To set up an appointment. Set an appointment today to understand the market trends in Boise and the surrounding Treasure Valley with Jennifer Louis, Boise Metro Area Real Estate Expert at (208) 509-9122 or [email protected].

 As we roll into September, the leaves might be gearing up for a change, and perhaps, so should your real estate ambitions—whether you’re buying or selling, there’s something in the air here in Boise beyond that crisp fall breeze.

Take a Look at the Boise real estate market update September 2024:

Ada County Trends in Selling Prices

As of August 31, 2024, approximately 33% of homes in the Boise metro area sold for full asking price or above, up from about 29% in 2023. Nearly 68% of the homes sold under the original asking price. What do these numbers indicate?   For the homes that sold at the original asking price or above the median days on the market was 3 days.  This demonstrates that the homes were highly desirable and most likely had sought-after features or locations or were priced competitively.  Homes that sold under the asking took nearly 30 days to go pending and nearly 50% of them had to drop their price before going pending.  Pricing right from the start can make all the difference in the price you end up with.

Canyon County Market Snapshot: 2023 vs. 2024

In Canyon County, as of August 31, 2024, 22% of the homes for sale sold for full price or above asking price and took 4 days to go pending.  This is just about the same numbers as of 2023.  78% of homes sold under the original asking price and took 30 days on average to go pending.

Boise Real Estate Market Insights

The market in Ada and Canyon Counties has stabilized over the past two years, moving away from the frenzied pace where homes sold in under a week and above asking price with multiple offers. Despite this shift, some sellers and agents still set prices as if at the height of the COVID real estate boom. Often, sellers believe that high pricing will still attract offers, but this strategy can leave buyers shooting in the dark, reluctant to make offers they fear will be rejected. Generally, buyers are hesitant to invest emotional and physical effort into offers that are likely to be declined.

As an experienced listing agent, I advise my clients to consider several factors when pricing their homes:

1. Current Market Comparables: Homes should be priced based on what similar properties are selling for in the area. Pricing without comparable support may lead to low appraisals if buyers are using financing, jeopardizing the sale, or forcing last-minute price reductions.
2. Overall Costs and Desired Net Gains: Account for closing costs, broker fees, existing mortgages, and your desired net proceeds. Ideally, set the home value slightly above market comps to accommodate buyer negotiations for closing costs or other concessions or slightly lower to incite multiple offers if your area or home has features or a location that could bring multiple offers.

For the Buyers: Get Ready to Jump!

The Boise market remains a lively playground for potential homebuyers. Inventory is inching up, giving you a bit more breathing room and a few more options to choose from. Don’t let the extra choices slow you down, though—Boise properties still aren’t sticking around for long, especially those well-loved gems in desirable neighborhoods like North End or East Boise. Quick tip? Have your must-haves nailed down and your paperwork ready to roll. Speed and clarity are your best friends in a market that’s as welcoming yet competitive as a game of neighborhood flag football.

For the Sellers: Shine and Polish!

Selling your home in Boise this September? It’s time to put on the ritz. With more homes hitting the market, ensuring your property stands out is key. Think of it as prepping for the homecoming dance—spruce up the yard, declutter like a minimalist, and fix those little quirks you’ve laughed off for years. Buyers are ready and eager, but they’re looking for the cream of the crop. A little effort goes a long way in making a stellar first impression. And remember, pricing it right from the get-go is like hitting the perfect dance move at just the right beat.

Everybody: Keep Your Eyes Peeled!

Whether you’re on the buying side or the selling side, staying informed is your secret weapon. Market trends in Boise can shift as quickly as our mountain weather, so staying connected and on top of the latest stats, shifts, and success stories will help you navigate the market confidently and capably.

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] To set up an appointment. Set an appointment today to understand the market trends in Boise and the surrounding Treasure Valley with Jennifer Louis, Boise Metro Area Real Estate Expert at (208) 509-9122 or [email protected].