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Idaho was not at the top of anyone's "Best Places to Live" 30 years ago but now you read about Idaho all the time. The scenic vistas, majestic mountains, amazing adventures, wildlife, whitewater, miles of hiking trails, and ATV rides made Idaho a destination for vacations but then people just decided to stay and find a job. These folks told their friends about how great life was from short commutes to work to the quality of life they now had. The secret is out and people from all over the world are considering a move to Idaho, which has caused a sharp increase in demand for real estate. Builders, developers, real estate agents, and other industry professionals are busy building and selling new homes. Read more below about how supply and demand are shifting and how the real estate market is affected.

Median Home Values Snapshot:

Ada County, ID


 N. Boise


 North Boise




N Meridian



Canyon County, ID


 N. Nampa


 North Nampa


South Nampa


S Caldwell



How Have Local Home Values Changed Over the Last 15 Years?

The following charts track average sold prices of new and existing homes sold since 2005. You can see that home values peaked between 2006 and 2007 and reached the bottom of the real estate market during 2011. It has been a seller's market for years due to the interest from out-of-state buyers, lack of inventory of houses for sale, and people's ability to pay. The ability to actually buy a home is important because there is a lot of interest from California, Portland, and Seattle which have not only higher-priced houses, but also stronger incomes so their buying power is stronger. 


Ada County, ID
(Boise, Eagle, Kuna, Meridian, Star)

Boise Area Home Values (Ada County, ID), Idaho Real Estate Report

Canyon County, ID
(Caldwell, Middleton, Nampa)

Nampa Area Home Values (Canyon County, ID), Idaho Real Estate Report





Is Boise in a real estate bubble?

2020 was a busy year, but trying to analyze a bubble bursting is different from that of 2005. First, recent market trend lines show that inventory remains low. Prices are increasing and housing inventory remains at some of the lowest levels Boise has historically seen based on population. In 2005, the market saw synchronized upward trends of homes for sale and price increases before the bubble burst. Also, mortgage guidelines are much more stringent, forcing buyers to be more realistic about their purchases. Treasure Valley continues to see a lot of in-migration from California, Portland, and Seattle.

2021 Boise Idaho Real Estate Trends



Boise Area New Construction Market Summary

  Total Building Permits 2020 Total Building Permits 2019 Total Building Permits 2018 Total Building Permits 2017 Total Building Permits 2016 Total Building Permits 2015
Ada County 4,758 4,340 3,964 3,859 3,593 2,980
% Change from Previous Year +9.6% +9.49% +2.7% +7.4% +20.6% +31.1%
Canyon County 2,303 2,055 1,700 1,444 1,282 1,028
% Change from Previous Year +12.0% 20.88% +17.8% +12.6% +24.7% +18.9%


In 2020, local builders in both Ada County and Canyon County built over 7,000 homes (up 10%) but this was not enough to meet local demand! There is not enough supply to slow down how fast home values are rising. Demand remains strong from out-of-state buyers who are seeking the better quality of life that Boise offers.

What does the history of building permits look like in Boise?

Review the following chart of building permits pulled over the last 12 years. You can see how the market was out of control compared to today. Note: building permits do not represent actual homes built.

Idaho Building Permit History since January 2005

Boise Real Estate Market Overview


Boise Home Values market Action Index


Boise Idaho Real Time Market Profile


Boise Median Home Prices


Price Per Square Foot of Homes in Boise


Yes, it is a seller's market! The low number of homes for sale and high interest from out-of-state buyers are driving real estate prices upward. The real estate charts display how the Boise market has ramped up, especially since COVID-19, social unrest, and telecommuting have become the top pull factors.

The number of homes for sale remains at record-low levels in the Treasure Valley
The volume of buyers vastly outnumbers the homes listed for sale. This is the primary reason why home prices are going up. This has been true since 2012, but since June 2020 the shortage of homes has become a crisis. 

Ada County, Idaho Real Estate Market Home Inventory

Ada County Idaho Real Estate Market Home Inventory


Canyon County Idaho Real Estate Market Home Inventory

Canyon County Real Estate Market Median Home Value

In December 2020, there were approximately 0.2 months of inventory of houses for sale. This means that if no more homes became available to sell, there would only be enough homes to sell for ⅕ of one month based on current sales volume. A normal market is considered to have 6 months inventory of homes for sale.

The problem is accentuated with local homeowners who are afraid to sell. Many people are afraid that moving will cost too much now, they will not be able to find something to buy in time, and that they may become homeless. The reality is that if they may have gained massive equity from appreciation over the years and with the historically low-interest rates, they have incredible buying power. As a matter of fact, most sellers don't realize that they can negotiate the sale of their home to include a contingency that they won't sell until they find something to move into. Buyers may be open to that if they are not on a hard timeline. Would you like to talk to an agent about what your home is worth and selling without the fear of becoming homeless?

What are home values in the Treasure Valley?

Based on 19,856 homes sold in Ada and Canyon Counties—which is considered the Boise Metro area—in 2020, the median price was $433,906. This sales price is just about single-family homes, it does not include building lots, pending homes for sale, or multi-family.

How have home values changed year-over-year?

Compared to 2019, total home sales went up. You have probably read about Boise, Idaho real estate in the news. It seems to make every real estate headline mentions Boise, but it is not as crazy as the media plays it up. Percentage-wise, things seem crazy, because they are, but in terms of actual numbers, Boise is not a major populated city so the total numbers are not as high compared to Phoenix, AZ or Seattle, WA.

There were 18,100 homes sold in 2020 which represents a 9.7% increase compared to 2019. While that may not seem like a large increase, remember that Boise is not a major metropolitan city. Also in 2019, there were 5,453 "NEW" homes sold compared to 6,616 in 2020. New home sales represented about 1/3 of all homes sold. That is a 21% increase in the number of new homes listed and sold on the MLS compared to 2019. The fact remains that new construction homes did not keep up with demand and builders produced at max capacity based on material supply, available building lots, and labor. There are several national builders now moving into the local marketplace. It is unclear how they will affect the new construction market, but they have larger capabilities than local builders. They are looking to buy larger swaths of land to develop. The good news for buyers is that local builders build excellent quality homes and produce homes with designer quality to meet Idaho's strict building codes. This means the Treasure Valley does not have many of what is considered cheap track homes.

Why are home values increasing?
This is a simple economics question but the answer is much more dynamic.

  1. Demand for homes remains strong and the number of available homes for sale is low. New construction is not able to keep up with demand and this shortage is part of the problem. Developers are also sensing the demand and acquiring land as fast as it becomes available. Vacant land is a premium, so as land prices increase, lot prices increase. This is also forcing developers to create smaller lots but no one moving to Idaho to improve their lifestyle wants less space. This has led to $300,000 being less able to purchase significant property and housing than in just the last decade.
  2. Boise, Idaho sees a lot of in-migration with continued interest from California, Portland, Seattle, and Salt Lake City. Most emigrants and transplants cite affordability, safety, and friendly people that live here as what attracts them to Idaho. The sudden shift in the workforce allowing for more people to work from home and from wherever they choose in 2020 allowed more people to relocate. Idaho is very attractive to so many types of people who are looking to escape and find a place that makes more sense financially, lifestyle-wise, for their family, and safety from the unpredictable social climate and contentious leadership in other large cities.
  3. The national economy is strong and Boise is reflective of that. Demand for homes is driving sales but price increases are also driven by people's ability to buy and willingness to pay top dollar for properties. Many out-of-state buyers have a much different perspective of what an expensive home is. $500,000 out of the populated areas will buy you a mansion, but in the center of Meridian or Eagle, it will buy you a mid-range house.
  4. Lastly, many people are not interested in selling. Some cite they cannot find something to move to, due to the lack of inventory. Others have determined that they cannot afford what they want based on the appreciation of local house values. Note: Buyers who purchased in 2010 have seen $285,000 of appreciation on average.

Is Boise, Idaho really affordable?
A lot of buyers were turned off by Boise in 2020 as they watched real estate values increase. For those that have been making plans for years to move, what they wanted is now ten of thousands or even hundreds of thousands of dollars more expensive. Some people have decided to stay where they are as Boise real estate is just as expensive as their current living situation, and they have concluded that they might as well stay put.

What home buyers are forgetting is that other facets of living cost much less. Electric bills in Idaho are half or better than in other states. Buying a car costs less in Idaho than in California. In addition, gas and car registration costs are considerably lower. Water bills are much lower in the Boise area. As an added bonus, many older homes have irrigation water. Meaning from mid-April to mid-October you can use all the water you need to wash cars, the dog, or the house for about $100. Water the lawn and garden and all your plants. Play in the sprinkler with the kids from sunrise to sunset.

Is the housing market going to crash?

Unlike in 2008, this real estate boom is not driven by a runaway lending economy. This boom is all about supply and demand like we mentioned above. In terms of real estate, there are zero indicators that the market is going to slow down. There are no signals from any statistic or trend line that indicate that buyers are becoming less interested or that the local economy has a breaking point. That being said, Boise in the past has been slightly insulated from what is happening nationally. If the national economy shifts, Boise will experience it after a delay of a few months. Also, as the nation faces unrest, Boise looks more attractive as a stable place to live!

Many see Boise as a sane place to escape from other cities' poor economics, social unrest, drugs, homelessness, and other issues. The affordability, livability, and sensibility have made the City of Trees popular.


What you need to know about Real Estate in Boise Idaho for 2021


Treasure Valley Home Buyers:

  1. The inventory of homes for sale is consistently far short of what one would expect in a normal real estate market; making it an extremely strong seller's market. While there is a constant stream of new properties listed for sale, development is too slow for demand, and buyers are generally frustrated with the lack of options to choose from as well as constant bidding wars. Don't expect this to change but hopefully, new construction will help offset the lack of inventory.
  2. When you find the right home, be prepared to pull the trigger! Making the best offer can include not only the highest price but also finding out how to help the seller love your offer. For example, the ability to lease back for the time they need or removing contingencies like a home inspection. Note: this is not typical advice but in this market, if you are comfortable with the condition of the home, it is worth considering. Lastly, a great agent knows how to develop a relationship with the listing agent to find critical information that can make difference between winning and losing. 
    Many homes sell for full price or more, so tactful negotiating is key to winning your home. Providing the seller with strong reasons to consider your offer from price to proof of being able to purchase provides the seller with confidence in your offer. Also, removing as many contingencies as possible. Some people are selling their homes first so they can offer cash. 
  3. Escalation Clauses may be the key to winning your next home but they can be a disaster if not written properly. Verify your agent understands the necessary legal clauses to have a contract that is aggressive but protects you from having to buy something that all of a sudden you cannot afford to buy. Escalation clauses can be tricky if not written in a way that shields you from unintended consequences.
  4. Many buyers are looking at new construction as a way to find what they want without competing against other home buyers. The Build Idaho team of agents is constantly networking to find opportunities to help families find a great opportunity and home. Find out how we can help you.
  5. Desperation is not a good buying strategy. Buyers are frustrated after losing offers multiple times that they end up making a crazy offer just so they can claim a home. We understand that some buyers have to learn the hard way, that they have to be aggressive from the start. Talk to your agent about winning the home you want. There are few deals in this market, remember it is a seller's market.
  6. The median price of a home increased $129.33 daily in 2020, so those that bought one year earlier saved $47,207.

Buyer Services


Treasure Valley Home Sellers:

  1. While the market favors sellers, many sellers are scared to sell for fear of not being able to find something to buy and afford to own. The reality is, a seller should check their equity position and buying power with the low-interest rates most lenders can offer. Many sellers are surprised as to how sturdy a position they are in. Since it is a seller's market, they have a lot of control over how a deal can be put together. Ask your agent for details.
  2. Pricing a home right the first time is a proven strategy to get the most money. When it is overpriced, savvy buyers recognize it. As the house accumulates days on the market, it gets socially stigmatized and often a lesser price because people begin to wonder what is wrong with it. Follow your realtor's advice, they know the market and how to price it so it attracts the most buyers, sells quickly, and nets you top dollar.
    Additionally, price it to show up in more searches! Pricing it at $299,000 makes you the most expensive home in a $250k to $300k search but if you price it at $300k you are also the least expensive home in a search for $300k to $350k. Creative marketing gets big results.
  3. Make your home show-ready on day 1 and take every offer seriously.
  4. Make sure your agent is a strong negotiator and able to protect your interests. If you are moving to another home, your agent should have a plan that will not leave you homeless.
  5. There are several marketing tools to make your home attractive to out-of-state buyers such as VR tours and videos. Is your agent making sure you are going to get top dollar for your home?

Get Your Home Sold



 Is Treasure Valley a good place to invest in real estate?

Investors are looking at everything, including land. Prices are going up with no slowdowns predicted for the near future. Some investors are willing to pay for over-priced properties, speculating on continued appreciation and even disregarding the current yearly return on investment for a higher return after the land is developed.

How much have home values appreciated in the last 10 years?

Boise Idaho Real Estate AppreciationSource: Keller Williams Realty Boise


This chart displays the average sold price of existing homes by year. As you can see, for those that were either able to or lucky enough to buy in 2012 at the bottom of the market, their homes may have appreciated $253,466 based on the median home values over the last 10 years. This is up $51,000 from our analysis in 2019. This is a great illustration that if you are buying real estate as an investment or looking to create wealth through real estate, it takes time but the payoffs are worth it. If you are buying a home to live in for many years, you will not become frustrated during different real estate cycles, which are inevitable.


How are home values changing across Treasure Valley?
Review current home value trends in specific cities. These detailed reports are updated weekly so you have the most accurate information, numbers, and trends in the locale real estate markets we serve.



  2020 Median Home Values by Area

*The following chart ranks areas by median price
**sorted by most affordable price


  Median Home Price New Homes Existing Homes
Caldwell- North $315,250 $348,000 $302,500
Caldwell- South $325,000 $394,695 $308,000
Nampa- South $339,900 $368,283 $320,200
Lake Lowell $369,500 $n/a $369,500
Nampa- North $374,662 $389,039 $346,725
Boise- West $375,000 $360,000 $375,000
Garden City $376,000 $n/a $376,000
Boise Bench $377,500 $415,000 $369,900
Middleton $382,783 $415,000 $373,000
Kuna $386,500 $430,542 $351,500
Boise- Southwest $396,950 $439,000 $390,000
Meridian- North $420,000 $442,445 $406,000
Star $432,925 $402,512 $632,000
Boise- Southeast $444,419 $448,900 $426,100
Meridian- South $450,000 $449,900 $462,500
Boise- Northwest $555,162 $612,668 $470,000
Boise- North $605,000 $838,950 $605,000
Boise- Northeast $637,500 $534,533 $745,000
Eagle $668,500 $567,444 $750,000
*source Intermountain MLS


  Breakout Analysis by Area


North Boise Home Values

North Boise Home Values, Idaho Real Estate Report

Live in downtown Boise including the area to the north into the Foothills and and to the east following Hill Rd. Enjoy all the amenities of Boise plus the great shops and restaurants scattered throughout. This area includes several condominiums and many historic homes.

  New Homes  
  Existing Homes  


Northeast Boise Home Values

Northeast Boise Home Values, Idaho Real Estate Report

If you want to live off Warm Springs Rd and enjoy the direct Foothills access, as well as, the Boise River and some fun local shopping and eateries, check out NE Boise. This is an active community, as there is also golf and only minutes to downtown.

  New Homes  
  Existing Homes  


Southeast Boise Home Values

Southeast Boise Home Values, Idaho Real Estate Report

Just a little ways from downtown is open spaces along Federal Way and Hwy 21 with great views and still a short commute to downtown. Highway 21 offers access to Lucky Peak and the mountains surrounding Idaho City.

  New Homes  
  Existing Homes  


Boise Bench Home Values

Boise Bench Home Values, Idaho Real Estate Report

"The Bench" area is located south of downtown Boise running along the bench which an elevation about 70 ft above the valley floor.

  New Homes  
  Existing Homes  


Southwest Boise Home Values

Southwest Boise Home Values, Idaho Real Estate Report

This area has had considerable growth though there are limited services and shopping in this part of town. While homes for sale are limited, living south of the freeway is becoming more popular.

  New Homes  
  Existing Homes  


West Boise Home Values

West Boise Home Values, Idaho Real Estate Report

South of the Bench area is plenty of shopping from the stores between Franklin Rd and Fairview, including the Boise Townsquare Mall along Milwaukee.

  New Homes  
  Existing Homes  


Northwest Boise Home Values

Northwest Boise Home Values, Idaho Real Estate Report

Homes located along State Street and Hwy 55 enjoy the Boise River and Foothills as nearby amenities. So if you enjoy the outdoors, this area offers a great lifestyle for you! Enjoy a leisurely drive along Hill Rd or get out of your car and take advantage of great hiking trails including Hyde Park.

  New Homes  
  Existing Homes  


Garden City Home Values

Garden City Home Values, Idaho Real Estate Report

Following Chinden Blvd west between the Bench and Boise River is Garden City. Everyone will enjoy Whitewater Park and the Greenbelt.

  New Homes  
  Existing Homes  


Eagle, Idaho Home Values

Eagle Idaho Home Values, Idaho Real Estate Report

The average price of a home in Eagle is far above much of the area due to it's location and the caliber of homes and communities located here. Many communities have magnificent entrances with a water feature and many homes are on small lakes. Eagle also offers great restaurants and shopping.

  New Homes  
  Existing Homes  


Star, Idaho Home Values

Star Idaho Home Values, Idaho Real Estate Report

Move to the country! Enjoy a slower pace even and the peace and quiet of of a one stop-light town and only 12 minutes to big city shopping.

  New Homes  
  Existing Homes  


South Meridian Home Values

South Meridian Idaho Home Values, Idaho Real Estate Report

Many prefer living south of the freeway as there is a not quite the congestion. Here you can also find more quiet as well.

  New Homes  
  Existing Homes  


North Meridian Home Values

North Meridian Idaho Home Values, Idaho Real Estate Report

Meridian is one of the fastest growing cities surrounding Boise. It is centrally located to the entire Treasure Valley and offers great communities as well as shopping and restaurants.

  New Homes  
  Existing Homes  


Kuna, Idaho Home Values

Kuna Idaho Home Values, Idaho Real Estate Report

Kuna is widely known as the gateway to the Birds of Prey Sanctuary. This area is also close to Swan Falls and Snake River and while it is relatively close to Boise, it is much less expensive to live here . Enjoy open space and quiet, and only 12 minutes from the freeway.

  New Homes  
  Existing Homes  


North Nampa Home Values

North Nampa Idaho Home Values, Idaho Real Estate Report

The area around the Idaho Center and Garrity Blvd has seen an major increase in homes and business. Centrally located to the valley and easy access to I84 makes this an easy choice for many.

  New Homes  
  Existing Homes  


South Nampa Home Values

South Nampa Idaho Home Values, Idaho Real Estate Report

Nampa Idaho is a peaceful place with lots of open space including the popular Lake Lowell. Growth of this area has spurred many new stores and restaurants.

  New Homes  
  Existing Homes  


South Lake Lowell Area Home Values

Lake Lowell Home Values, Idaho Real Estate Report

Located south and west of Nampa is a diverse area around the shores of Lake Lowell. Rolling hills provide great vista views of the Boise Foothills and the Owyhee mountains.

  New Homes  
  Existing Homes  


Middleton, Idaho Home Values

Middleton Idaho Home Values, Idaho Real Estate Report

Middleton is a place where everyone knows their neighbors first name and the entire town comes to support the high school football team. This is a small, more agricultural based, town that is friendly and growing.

  New Homes  
  Existing Homes  


South Caldwell Home Values

South Caldwell Idaho Home Values, Idaho Real Estate Report

Caldwell offers open space and more or a rural setting beyond downtown. Agriculture plays an important part of the economy and culture.

  New Homes  
  Existing Homes  


North Caldwell Home Values

North Caldwell Idaho Home Values, Idaho Real Estate Report

Convenient location close to the interstate and shopping.

  New Homes  
  Existing Homes  

Source: Intermountain MLS

Towns North of the Foothills


Emmett Idaho Homes for Sale

Median Existing Home Values

Median New Home Price

Emmett, ID
Drive north on Freezeout Hill Rd and you enter an area known for orchards and beautiful vista views. This is Emmett, a small town in a big valley. Search Emmett Idaho Homes for Sale

Idaho CIty Homes for Sale

Median Existing Home Values

Median New Home Price

Idaho City, ID
Drive north on Hwy 21, above Lucky Peak Resevoir, and you will find the mountains and many trails for your horses, ATV's, skis, snowmobiles and every other toy. Make this your resort town getaway. Search Idaho City Homes for Sale