MEDIAN SALES PRICE...As February comes to a close there continues to be around a $30k difference in the median sales price of new verses resale homes, where new homes are priced higher. This gap has been consistent for the last three months despite changing sales volume. When compared to surrounding counties, a higher proportion of resale homes in Ada County are older which may be keeping the median sales price relatively constant for the last six months around $525k. 

HOMES SOLD...February sales have partially recovered from the seasonal dip in volume observed in January. Currently, sales sit above where they were at this point last year, but these are the lowest numbers since February 2024. The new and existing home sales volume increased in February, but the distribution of ages and sizes of homes remained extremely similar to January which appears to have led to little fluctuation in pricing.

DAYS ON MARKET...Differences in average days on market were seen when looking at the location of the homes sold. Homes sold in Boise, Garden City, Meridian and Star were on the market for a shorter amount of time when compared to those sold in Kuna, Nampa and Eagle. Older resale homes (10+ years old) across Ada seem to have the lowest days on market, the majority have been on the market under 30 days.

INVENTORY...Like January, over half of homes in inventory are new homes. 86% of these new homes in inventory are located outside of Boise. 40% of resale homes in inventory are in Boise. These homes are priced above median sales prices for resale homes sold in February and their prices have begun to decline from the original list prices.

Ada county market continues to maintain with very little fluctuation to median sales price. We saw a 22.5% increase in homes sold over the past month. With spring around the corner we are seeing an increase in resale homes and new homes hit the market. If you are wondering if its the right time to buy or sell, please give me a call. Let's discuss your real estate needs today!

Source: Intermountain MLS / Boise Regional Realtors