Lots of changes in the market as we move into Spring sales!

Median Sales Price...Ada's median sales price saw its largest month over month increase since March 2024 at 6.6%. Sales prices were higher across the board in both new and resale homes than in February. The most significant difference was seen in new homes selling 11.1% higher than in February. Resale home in March saw a 4.6% increase in sales price when compared to homes sold in the pervious month. 

Homes Sold...Homes sold increased for the second straight month. Sales volume is back to where it was in Nov/Dec 2024, showing sales recovery from the large seasonal dip in sales observed in January. The amount of homes sold 5 years and newer increased by 28% between February and March. Month over month resale and new homes showed an 11.8% increase in closed homes in March. 

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.

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 February. However, the prices of these homes have decreased relative to the original list price. 

Our local market is always changing and in some areas like new construction we are seeing big shifts. If you are thinking of buying or selling and would like expert advice on how to navigate our every changing market please reach out and call, text or email me. Working with an agent who has 30 years of experience really does make a difference. When you need an expert call me!

Source: Intermountain MLS and Boise Regional Realtors