ADA COUNTY
MEDIAN SALES PRICE —
- Ada's Median Sales Price saw its largest month over month increase since March 2024 at 6.6%.
- When compared to February, sales prices were higher on average for homes across all age buckets. The most significant difference was seen in new homes, likely caused by a lack of new homes sold <$500K in March.
- Resales sold in March that were >20 years old were priced around $40K higher than similar homes sold in February.
HOMES SOLD —
- Homes sold increased for the second straight month. The increase observed this month was half of the large increase in sales observed last month.
- Sales volume is back to where it was in November/December 2024, showing sales recovery from the large seasonal dip in sales observed in January.
- The volume of resale homes 5 years or younger increased by 28% between February and March.
PENDING SALES —
- Pending Sales increased by 14.8% this month largely due to a significant increase with resale homes.
- Since January, increases in pending sales have translated to increased sales volume in Ada County. We will watch for increased sales volume moving into April.
- 54% of resale homes that were pending in March were over 20 years old. Most of these homes were in Boise and were on the market less than 30 days on average.
INVENTORY —
- Consistent with the beginning of 2025, over half of the homes in inventory are new homes. Most of these new homes in inventory are in Meridian and a large proportion have been relisted within the past 1-2 months at a higher price than the one associated with the original listing.
- List prices for resale homes in inventory are well above those that closed in March. However, the prices of these homes have decreased relative to the original list prices.
DAYS ON MARKET —
- Pricing continues to be the biggest driver of how long a home remains on the market before it is sold. Regardless of age of home or location, homes priced below $400K continue to move quickly in Ada County.
- New homes priced $600K and below across Ada County have an average Days on Market around 35 days, significantly lower than other new homes priced higher, regardless of location.
"With sales rebounding and pricing trends shifting dramatically—especially in the new construction segment—Ada County's market demands expertise. A REALTOR® brings clarity to price points, timing, and strategy, which is crucial when days on market and buyer behavior are moving fast." ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
CANYON COUNTY
MEDIAN SALES PRICE —
- Median Sales Price increased by 2% in March. MOM % +2.0% +1.0% +2.7%
- The prices of resale homes sold that were 5 years or younger increased in March by around $40K when compared to those sold in February.
- Resale homes in Caldwell were priced significantly lower than those sold in February. A larger volume of these lower cost resale homes were sold in March.
HOMES SOLD —
- The number of homes sold increased by 6.3% this month. While this is the second consecutive month an increase has been observed. The level of increase has cooled considerably from last month's 40% increase in sales.
- New homes and resale homes are being sold at near equal quantities in Canyon County, with the proportion of homes sold that are resale homes increasing this month.
PENDING SALES —
- A larger portion (62% in March) of pending sales in Canyon County continue to be new homes. A large portion of homes under construction were pending sale in March, primarily located in Nampa and Caldwell. This segment of new homes were on the market for 21 days on average.
- March faced a 37% increase in pending resale sales. These resale homes tended to be younger (44% under 20 years old) and priced lower than new homes pending sale.
INVENTORY —
- Inventory increased slightly overall in Canyon County this month; the most significant increase was seen in resale home inventory.
- 47% of resale homes added to inventory this month are in Nampa and currently sit at a more affordable price point than similar inventory added in Caldwell this month.
- A segment of resale homes priced at $750k+, located outside Nampa/Caldwell, entered inventory in March.
DAYS ON MARKET —
- Days on Market decreased by 11 days on average this month with significant decreases being seen for new and resale homes.
- Younger resale homes (20 years or under) saw a decrease in average Days on Market, despite being priced higher than similarly aged homes sold in February. This may indicate buyer appetite for resale homes in Canyon, likely due to their greater affordability than new builds.
"Canyon County's steady climb in pending sales and buyer interest in affordable, younger resale homes highlights a competitive but evolving market. A REALTOR® helps buyers move quickly and sellers price strategically, two key factors in today's landscape. " ~Elizabeth Hume, Boise Regional REALTORS® 2024 President
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