December Market Report

ADA COUNTY

Median Sales Price ($)

We haven’t seen the MSP dip below $517,000 since December 2022 — a $13K decrease compared to November 2023.

Days on Market

Homes that sold for $200,000-$400,000 sold at an average of 30 days versus 41 days for $1,000,000+ homes.

Inventory

Just three months ago (September), we were at nearly double the current inventory for resale.

CANYON COUNTY

Median Sales Price ($)

Single-family homes sold for approximately $11K more than Nov 2023 with 7 homes selling for more than $1M.

Days on Market

New construction slowed the most, waiting nearly 20 days longer than the month before.

Inventory

Resale homes remain hungry for new listings, sitting at only 1.6 months of supply.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

November Market Report

ADA COUNTY

Median Sales Price ($)

Higher mortgage rates in early Nov may have catalyzed lower prices for the month.

Days on Market

In Nov, the homes that sold for less than $500k spent an average of 13 fewer days on market than those that sold for more.

Inventory

Existing/resale saw the greatest shrink in options, slipping from 825 available properties to 656.

CANYON COUNTY

Median Sales Price ($)

The price gap between new construction and existing homes has continued to diminish. In Nov 2022, the difference was approximately $120k but now sits at approximately $31k.

Days on Market

This month was another historically speedier month when juxtaposed against the previous year. For example, single-family homes spent an average of 17 less Days on Market than in Nov 2022.

Inventory

While there was a dip in inventory for all sectors aside from new construction, the MSI (below) remained the same compared to last month, showing supply and demand remained steady.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

Vacancy Report Q3 2023

Introduction

The purpose of this survey is to show vacancy and rental rate trend among single-family homes and multi-family units in Ada and Canyon County. Survey results are displayed by type (single or multi-family) & bedrooms (1-5) for the respective county.

Property status was surveyed as of September 30, 2023.

The survey participants are property management companies affiliated with the SW Idaho Chapter of NARPM and are considered to be the representative sample of the inventory of professionally managed rentals in Ada & Canyon County.

Survey Respondents

Data statistics below:

*The accuracy and reliability of this survey is improved with an increased sampling.

ADA VACANCY REPORT

Vacancy Rate 6.8% | Multi-family 7.9% | Single 5.50%

CANYON VACANCY REPORT

Vacancy Rate 8.46% | Multi-family 9.33% | Single 4.82%

Source: www.narpm.org

October Market Report

ADA COUNTY

Median Sales Price ($)

New construction led the charge in many ways this month, including in MOM changes for Median Sales Price (MSP) — up $34,600 compared to last month.

Days on Market

Existing home’s Days on Market remained steady this month while new construction rebounded to a similar pace we saw in May to July this year.

Inventory

Single-family inventory dipped, month-over-month, for the first time since Feb 2023.

CANYON COUNTY

Median Sales Price ($)

Oct 2023 marked the 11th consecutive YOY ease for median sales price, down approximately $6,000.

Days on Market

Nine days were shaved off Days on Market for single-family homes this month, compared to the same month last year.

Inventory

While unable to compete with last October’s selection of 1,253 homes available, single-family home inventory was able to make a slight recovery this month compared to Sep 2023.

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS

September Market Report

ADA COUNTY

Median Sales Price ($)

Resale homes in Ada County saw its first positive boost in MSP since Aug. 2022.

Days on Market

Ada single-family homes’ Days on Market have decreased year-over-year for the first time in 23 months.

Inventory

Inventory’s belt has tightened, year-over-year, for five months in a row while monthly growth is in the black.

CANYON COUNTY

Median Sales Price ($)

Days on Market

Inventory

Provided by Boise Regional REALTORS® | Data from the Intermountain MLS