ADA COUNTY
MEDIAN SALES PRICE —
- When compared to March, prices decreased for homes across all age buckets except homes sold that are currently under construction (saw an average price increase of 2.4%). The largest decreases in price were seen for resale homes 5 years or younger which saw an average price decline of 26% in April. When compared to similar homes sold in March, these younger resale homes sold in April had around 7% less square footage on average.
HOMES SOLD —
- The increase observed in April's sold resale homes was due to significant increases in the sales of older homes. A nearly 24% and 60% increase was seen in the sales of homes aged 21-30 years and 31-50 years (respectively) in April compared to March.
- There was a 13.6% increase in the sale of homes that are currently under construction. 97% of these homes were located outside of Boise, mostly in Meridian and Star.
PENDING SALES —
- 57% of resale homes currently pending sale are over 20 years old. The majority of these homes (76%) are set to close in May. We may continue to see an increase in sales volume for these older resale homes in May based on sales currently pending.
- A large portion of homes pending sale (41%) are new construction homes that are not set to close before the end of May 2025.
INVENTORY —
- Inventory increased by 22% in April, the third straight month that an increase has been seen in Ada County.
- There was a 17% decrease in inventory for homes currently under construction, a home type that appeared to have significant buyer demand in April.
- Resale home inventory increased across all age bands, most significantly for homes aged 51-80 years which saw a 53% increase in inventory in April.
DAYS ON MARKET —
- The lowest average days on market in April was seen for older resale homes. On average, homes over 20 years old sold in April were on the market for 20 days. The quantity of these homes sold increased in April, which indicates continued demand for older resale homes in Ada County.
- Among new homes, those listed as currently under construction sold the fastest in April and were only on the market for around 22 days on average.
"Sales activity in Ada County continues to build momentum, with three straight months of increased sales and rising buyer interest in older resale homes and new builds alike. While prices saw a slight dip, opportunities for negotiation are creating real wins for buyers, especially with a REALTOR® by your side to navigate pricing strategies and emerging inventory trends." ~Elizabeth Hume, Boise Regional REALTORS® 2025 President
CANYON COUNTY
MEDIAN SALES PRICE —
- The largest price increase was seen for resale homes 51-80 years old; these homes saw an average price increase of 22% in April.
- Homes sold that were under the age of 30 decreased in price on average when compared to similar homes sold in March.
- Homes sold that are currently under construction also saw a price decrease of 7% in April.
HOMES SOLD —
- The number of new and resale homes sold increased in April. The increase was more substantial for resale homes which increased by 38% compared to 16% for new homes. Similar to Ada County, sales for homes 20 years old and older increased substantially in April (54.7% for Canyon County).
- In March, 49% of all homes sold were resale homes. In April, this proportion rose to 54%.
PENDING SALES —
- Pending sales remained at similar levels as March.
- Similar to March, 62% of homes that are currently pending sale are new homes. 70% of these new homes are not set to close until after May 2025 and will likely appear again in Canyon's pending sales next month.
- Over half (55%) of resale homes pending sale are over 20 years old and have similar days on market to homes of that age that sold in April.
INVENTORY —
- The number of homes 20 years or older in inventory increased by 33.7% in April. This is a segment of homes that saw increased sales numbers in March. We may see similar trending in May due to the amount of these homes currently available.
- The number of new homes that are currently under construction in inventory declined by 23.8% but the sales of these homes increased 60%, signifying buyer demand.
DAYS ON MARKET —
- Homes over 20 years old sold in April had the lowest average days on market when compared to younger and new homes. In April, a home sold that was 20 years or older was on the market for an average of 31 days.
- Younger resale homes (those under 20 years of age) were on the market on average 10 days longer than older homes and, on average, sold for $10k lower than the original asking price associated with the listing.
"Home prices in Canyon County dipped slightly in April, opening the door for more buyers to enter the market especially for newer homes and those under construction. With strong growth in sales and rising inventory in key segments, navigating these shifts with a trusted REALTOR® can help you find the right home at the right price." ~Elizabeth Hume, Boise Regional REALTORS® 2025 President
To view the Treasure Valley homes currently for sale, CLICK HERE
