Boise Idaho Real Estate Blog

Mortgage Rates Dip to 15-Month Low, Home Prices in Ada County Tumble

The Treasure Valley housing market increasingly favors buyers as home prices decline and mortgage rates drop to their lowest levels in over a year.

The average 30-year mortgage rate fell to 6.47% for the week ending August 8, the lowest level since May 2023. Homebuyer demand typically shrinks when rates rise above 7% and picks up when they fall below that threshold.

Even small changes in mortgage rates can significantly impact home affordability. For instance, a buyer who put 20% down on a $500,000 home in April would have faced a monthly payment of about $2,750, excluding insurance and property taxes. Today, that payment would be closer to $2,480.

Federal Reserve Chair Jerome Powell recently suggested that a rate cut "could be on the table…

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Ada County Inventory Surges 37% as Home Prices Hit a New Two-Year High

Ada County home prices hit a fresh two-year high in June, reaching their highest level since July 2022.

The median price for a single-family home in Ada County increased to $569,990, reflecting a year-over-year increase of 4.6%. Similarly, Boise's home prices saw a 6% jump to $556,500.

This rise was primarily due to a higher number of expensive homes being sold rather than an increase in prices. On a price-per-square-foot basis, home prices in the county were slightly below April's levels.

Canyon County home prices rose to $424,945 in June, marking a 4.9% increase over the past year. As homes usually go under contract one to two months before the sale closes, June's data reflects purchase decisions made earlier in the spring.

Local home…

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Rising Supply, Tepid Demand: Treasure Valley Market Toughens for Sellers

Rising home prices, elevated interest rates, and a growing supply are contributing to slowing demand for all but the best-priced properties.

As competition intensifies, sellers have started offering more concessions to attract buyers, ranging from interest rate buydowns to assistance with closing costs.

In Ada County, the median home price is now $551,950, a 3.3% increase from last year. Boise saw a bigger jump, with prices rising 7.4% to $537,000. Canyon County's prices rose slightly to $419,900, a 1.2% increase from last June.

Falling rates at the end of last year spurred a rush of interest from homebuyers at the beginning of this year. Combined with a limited supply, this surge pushed prices to a two-year high. However, rates rose…

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Where To Watch Outdoor Movies in Boise This Summer 2024

Summer nights are almost here, promising those golden evenings with family and friends, relaxing as the temperatures cool down and the stars come out. There’s something magical about summer nights, isn’t there? This year, you can add “watch a movie under the stars” to your summer bucket list and check it off at any one of these free outdoor movie events.

Sparklight Movie Night | Meridian

With an impressive lineup of weekly classics and new family-friendly hits, the popular Meridian Sparklight Movie Night events are returning this summer. Every Friday from June through August, you can catch a movie at Settlers Park for free. Community partners and vendors join every week so you can enjoy a refreshing beverage and stroll through booths and…

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Treasure Valley Home Prices Climb Amid Robust Demand, But Rising Rates Loom

Robust demand and scarce supply have driven up home prices in the Treasure Valley this spring. However, rising mortgage rates threaten to dampen the enthusiasm.

May is typically one of the busiest months in the housing market, as families with school-aged children aim to relocate before the new school year begins.

The median price of a single-family home in Ada County rose by 7.5% year-over-year to $556,500 in April, up slightly from March. Boise home prices climbed to $525,000, a 5% increase compared to the previous year. In Canyon County, prices ended the month at $429,995, up 10.3% from April 2023, the highest since October 2022.

As prices have risen this year, bidding wars have become less frequent. However, fairly priced, move-in-ready…

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Boise Swimming Pools Guide - Best Swimming Pools in Boise, ID

Summer is definitely here, with all the warm weather ahead of us it's an excellent opportunity to soak up some fun at one of Boise's community pools. Just in Boise alone, there are seven locations each filled with neighborhood personality and different amenities. Each year all pools open on the very last day of school for the Boise School District calendar, which is May 31st at 1:00 pm. With more than just splash pads and water slides, during the summer season, Boise Parks and Recreation also holds swim classes and other aerobic sessions for all ages.

Where to swim in Boise

Natatorium Pool and Hydrotube - Northeast Boise

1811 E Warm Springs Ave | (208) 608-7680 | Map & Directions »

Just off Warm Springs Ave, the Natatorium is considered a…

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Boise Home Prices Reach Two-Year High as Market Gains Speed

Ada County home prices are surging as rising competition for scarce listings sends buyers scrambling. With robust demand and historically low inventory, 2024 is already turning out to be a good year for home sellers.

The median home price in Ada County at the end of March was $555,000, up 15.2% from the previous year. This increase represents the largest yearly gain since May 2022, the same month the county hit a record.

Home prices in Boise also experienced double-digit growth, jumping 13.4% to $529,990, the highest price since June 2022. In Canyon County, prices rose by 4.7% from a year ago to $413,395.

Demand from buyers less sensitive to interest rates, combined with a limited supply of homes on the market, is driving above-average growth…

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Ada County's Housing Market Gains Momentum as Home Prices Jump 6.3%

In February, Ada County home price gains accelerated, primarily due to a scarcity of available properties.

Median home prices in Ada County jumped 6.3%, reaching $522,000—the largest yearly gain since August 2022. In neighboring Canyon County, prices rose 5.1% to $409,818.

Despite decreased demand compared to the post-pandemic years, the Treasure Valley real estate market remains more competitive than in 2023. A December mortgage rate dip reignited buyer interest, contributing to rising prices last month.

Home prices in Boise fell by 1.2% to $478,200. However, this decline is primarily due to the mix of homes sold. On a per-square-foot basis, prices leaped 10.4%.

Meridian stands out with particularly strong gains. Home prices surged by an…

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Falling Rates, Fewer Homes, Rising Demand Sets Stage for Treasure Valley Home Sellers

Falling mortgage rates are drawing buyers back to the Treasure Valley housing market, where a dwindling supply of homes is fueling intensified competition. Demand has increased across all price points, with properties below $500,000 experiencing particularly fierce competition, often leading to bidding wars.

Despite growing interest from homebuyers, the market has fewer homes available now than last February. Currently, 1,775 homes are for sale in Treasure Valley, representing a 10% yearly decline.

In January, the median house price in Ada County rose by 5.8% year-over-year, representing the largest annual gain since August 2022. Median home prices in Canyon County and Boise have also increased, showing a 1.1% and 1.4% rise, respectively.

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Boise Market Springs Early: Lower Mortgage Rates Spark Early Buyer Interest

Yearly price gains, falling inventory, and plunging mortgage rates are combining to create a favorable market for Treasure Valley home sellers in 2024.

Presently, there are 1,915 homes for sale in Treasure Valley, representing a 21% decrease from last year. Given the current sales pace, the market has less than a two-month supply of homes, creating an imbalance that will intensify competition among buyers.

New listings tend to jump in April as move-up buyers enter the market. However, as supply usually reaches its lowest point in February, inventory will continue tightening, at least for the next month or two.

The Boise metro area remains a popular relocation destination, attracting out-of-state buyers, who account for as many as one in five…

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