Ada County
Ada County remains the primary driver of regional activity, posting 756 closed sales in August. This represents a 15.6 percent increase in volume compared to this time last year. Price growth here is the fastest in the valley, with the median sale price rising 6.3 percent to $616,000. Despite the rise in final sale prices, the median list price saw a slight adjustment down to $645,200 in late August. Inventory remains tightest in the mid range segments, where supply levels sit between 1.3 and 2.4 months. Luxury activity is also present, with 123 sales over the 1 million dollar mark recorded across the valley earlier this season.
Canyon County
Canyon County offers a consistent alternative for buyers, with home prices up 3.1 percent over the three months ending in August. The median sale price settled at $438,000, while the current median list price is $494,990. Market volume has been healthy, with recent data showing 537 sales, an 11 percent increase over the prior year. Buyers in this county can expect a slightly different pace, as homes here typically spend about 20 to 22 days on the market depending on the specific city.
City by City Breakdown
Boise: $549,950 median | +2.8% YoY | 452 closings | +20.5% Eagle: $749,900 median | -12.5% YoY | 117 closings | +19.4% Meridian: $551,500 median | -4.8% YoY | 362 closings | +38.7% Nampa: $435,510 median | +2.6% YoY | 314 closings | +25.6% Kuna: $469,990 median | +0.3% YoY | 134 closings | +52.3% Star: $597,346 median | +8.4% YoY | 66 closings | -40.0% Middleton: $539,900 median | +11.3% YoY | 53 closings | +6.0% Caldwell: $441,495 median | +7.7% YoY | 154 closings | -7.8% Emmett: $495,000 median | +19.3% YoY | 33 closings | -15.4% Garden City: $465,000 median | -6.2% YoY | 17 closings | -5.6%
What This Means If You Are Buying
Persistence is necessary in the current climate. With inventory sitting at 2.1 months, you are still operating in a seller favored market. However, there has been a notable increase in price reductions, with 491 recorded in the third week of August alone. This suggests that while prices are high, sellers who overreach are being forced to adjust. You should be prepared for fast paced competition in Boise, where days on market can be as low as 5 days, but you may find more breathing room in places like Garden City or Middleton where homes stay active for closer to a month.
What This Means If You Are Selling
Conditions remain very favorable for sellers, especially if your home is priced between $400,000 and $700,000. Properties in this range are averaging between 99.2 percent and 99.5 percent of their asking price. With active inventory declining by 58 homes recently, your listing will face less competition than it might have earlier in the summer. It is important to price accurately from the start, as cancelled listings rose to 121 recently, showing that buyers are still discerning about value despite the low inventory.
The Bottom Line
The Treasure Valley market is far from a crash. Distressed sales account for only one out of every 250 transactions, a stark difference from the market cycles of the past. Strong migration from states like California, Washington, and Oregon continues to fuel demand. Whether you are looking at the luxury market in Eagle or the growing sales volume in Meridian, the fundamentals of low supply and steady demand are keeping the market moving forward as we head into the fall.
Thinking about buying or selling in the Treasure Valley? The City of Trees Real Estate team works with buyers and sellers across Ada and Canyon County every day. Contact us at realestate-idaho.com.
Brent Hanson is co-owner of City of Trees Real Estate, the RealTrends Verified #1 Team in Boise, and the voice behind iHeart City of Trees, a Treasure Valley community info page covering everything locals and newcomers need to know about life in the Treasure Valley.
