The Boise housing market is kicking off summer with some cautious momentum. Mortgage rates are holding steady around 7%—similar to last summer but still high compared to the historically low rates of previous years. Even so, a 12.5% jump in mortgage applications in early June suggests that buyer confidence may be on the rise.
In May, the median sales price in Ada County rose to $579,900—up 6.2% from the previous month and 3.6% year-over-year. This increase was primarily driven by a strong resale market, which is currently fetching higher prices than most new construction. Inventory, which is split about evenly between existing and newly constructed homes, averaged 34 days on market, down 15% from last month and 10.5% from last year. Notably, houses 20 years and older sold fastest, averaging under 20 days on the market. This highlights strong buyer demand for established homes despite higher prices on these properties. On the supply side, inventory was up 12.2% from April and 30.2% from a year ago, giving buyers more options as we head into summer.
With roughly 850,000 people and a population increase of over 14% since 2020, the Treasure Valley remains one of the fastest-growing regions in the country. The many benefits of living in our area, will likely continue to attract buyers and maintain a strong housing market. Though housing prices are increasing, there are still great opportunities in both new builds and established neighborhoods—especially in South Boise, Kuna, and Canyon and Gem Counties, where long-term investment potential looks strong. If you're thinking about buying or selling in the area, we’re here to help. Let’s talk about how current market trends, like interest rates and inventory levels, could shape your next move. We’d love to connect with you soon!
For a quick snapshot of the Boise housing market for May 2025, see below:
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For more market statistics, including those for Canyon, Elmore, & Gem Counties, check out Boise Regional REALTORS® Market Report HERE.
