Explore Treasure Valley Home Values

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Area Analysis & Property Values Activity Review

Boise's ultimate Home Search

 

Median Home Values Snapshot

 

10000

 N. Boise

500000

 North Boise

505000

Eagle, ID

301000

Middleton, ID

264995

South Nampa

 

Michelle Penick, Boise Idaho Real Estate Agent

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Michelle Penick

818.472.1767
[email protected]
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Boise Idaho Real Estate Market Summary

 

Boise Home Values market Action Index

Boise Idaho Real Time Market Profile

Boise Median Home Prices

Price Per Square Foot of Homes in Boise

How has Real Estate changed in other markets?

Quicklinks: Caldwell, Eagle, Emmett, Kuna, McCall, Meridian, Middleton, Nampa, Star
Or select your city or zipcode below!

Boise Real Estate Market Dynamics

 

Boise Idaho Real Estate Market 2020 Update

 

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 sellers 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

 


 

 

The number of homes for sale remains at record low levels.

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 2019, there was approximately 0.6 months of inventory of houses for sale. This is that if no more homes became available to sell, there would only be enough homes to sell for a 1/2 month based on current sales volume. A normal market should have 6 months of inventory.

The Boise housing market remains very competitive

A recent study foudn that homes in Boise receive 2 offers on average and sell in around 33 days. The median sale price of a home in Boise was $345K in 2019, up 9.87% since the previous year.

 


 

 

Why are home prices increasing?

  1. Demand for homes remains strong and the number of homes for sale is low. New Construction is not able to keep up withe demand; this shortage is part of the problem
  2. Boise, Idaho  sees a lot of In-Migration with continued interest from California, Portland, Seattle and Salt Lake City. Most cite affordability, safety and friendly people of the area that live here is what attracts them to Idaho.
  3. The National economy is strong and Boise is also doing well. 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.
  4. Lastly, many people are un-willing to sell. Some cite they cannot find something to move to and others have determined that they cannot find what they want based on appreciation of house values. Note: Buyers who purchased in 2010 have seen on average $165,000 of appreciation.

 


 

 

 

Is Boise in a real estate bubble?

2019 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 synchronised 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 purchase. Treasure Valley continues to see a lot of in-migration from California, Portland and Seattle .

2020 Boise Idaho Real Estate Trends. Is Boise Forming a Real Estate Bubble?

 


 

 

Average Home Prices in Boise IdahoSource: Keller Williams Realty Boise

How long does it take to see homes increase in value by $202,503?

This chart display 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 2011, the bottom of the market, their homes may have appreciated $202,503 based on the median home values over the last 8 years. 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.
Note: There are also similar chart for each MLS Area to compare how each area performed.

 


 

 

Boise Area New Construction Market Summary

Ada County Home Values Overview:
Boise, Eagle, Kuna, Meridian, Star

  Total Building Permits 2019 Total Building Permits 2018 Total Building Permits 2017 Total Building Permits 2016 Total Building Permits 2015 Total Building Permits 2014
Ada County 4,340 3,964 3,859 3,593 2,980 2,270
% Change from Previous Year +9.49% +2.7% +7.4% +20.6% +31.1%  
Canyon County 2,055 1,700 1,444 1,282 1,028 864
% Change from Previous Year 20.88% +17.8% +12.6% +24.7% +18.9%  

In 2019, local builders in both Ada County and Canyon County built nearly 6,400 homes combined 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 srong from out of state buyers who are seeking something better, more affordability and better quality of life.


 

 

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

 

 


 

 

 

What you need to know about Buying a Home in Boise -

Treasure Valley Home Buyers:

  1. The inventory of homes for sale is consistently short of what one would expect a normal real estate market; making it a seller's market. While there is a constant stream of new properties for sale all the time, buyers are frustrated with the lack of options to choose from.
  2. When you find the right home, be prepared to pull the trigger! If you don't, be prepared for it to become someone else's home.
  3. Many homes sell for full price, so tactful negotiating is key to winning your home. Providing the seller with a strong reason to consider your offer from price to proof of being able to purchase provides the seller with confidence in your offer.
  4. Many buyers are looking at new construction as a way to find what they want without competing against other home buyers.
  5. Some recent examples that illustrate how 'hot' Boise Idaho Real Estate is:
    • A client of Full Sail + Build Idaho made an offer on a house priced at nearly $1M on the 14th day it was on the market and the seller was expecting four offers.
    • An affordable home hit the market and by the end of the first weekend there were 12 offers.

Buyer Services

Treasure Valley Home Sellers:

  1. While the market favors sellers, it is not a runaway market with accelerating appreciation
  2. Pricing a home right the first time is a proven strategy to get the most money. When it is over priced, saavy buyers recognize it. As the house accumulates days on the market, it gets socially stigmatised and a often a lesser price because people begin to wonder what is wrong with it. This is a proven fact!
  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, make sure your agent does not leave you homeless.
  5. There are a number of 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

 

  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 $227,500 $235,385 $224,400
Caldwell- South $232,430 $256,990 $220,000
Nampa- North $255,000 $296,740 $236,000
Nampa- South $264,995 $321,542 $247,700
Boise Bench $273,000 $332,790 $270,000
Boise- West $279,900 $320,000 $275,000
Kuna $282,745 $300,500 $265,000
Garden City $288,000 $243,500 $288,500
Middleton $301,000 $331,450 $287,500
Meridian- North $331,900 $360,696 $307,500
Boise- Southwest $332,013 $416,891 $299,900
Meridian- South $362,220 $373,990 $354,900
Boise- Southeast $369,900 $422,000 $350,000
Boise- Northwest $394,900 $469,800 $334,750
Star $399,500 $489,900 $345,000
Boise- North $500,000 $594,250 $489,200
Eagle $505,000 $515,000 $495,000
Boise- Northeast $534,000 $559,800 $525,000
*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  
$594,250
  Existing Homes  
$489,200


 

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  
$559,800
  Existing Homes  
$525,000


 

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  
$422,000
  Existing Homes  
$350,000


 

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  
$330,750
  Existing Homes  
$239,900


 

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  
$416,891
  Existing Homes  
$299,900


 

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  
$320,000
  Existing Homes  
$275,000


 

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  
$469,800
  Existing Homes  
$334,750


 

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  
$243,500
  Existing Homes  
$288,500


 

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  
$515,000
  Existing Homes  
$495,000


 

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  
$489,000
  Existing Homes  
$345,000


 

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  
$373,990
  Existing Homes  
$354,900


 

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  
$360,696
  Existing Homes  
$307,500


 

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  
$300,500
  Existing Homes  
$265,000


 

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  
$296,740
  Existing Homes  
$236,000


 

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  
$321,542
  Existing Homes  
$247,700


 

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  
$632,775
  Existing Homes  
$320,000


 

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  
$331,450
  Existing Homes  
$287,500


 

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  
$256,990
  Existing Homes  
$220,000


 

North Caldwell Home Values

North Caldwell Idaho Home Values, Idaho Real Estate Report

Convenient location close to the interstate and shopping.

  New Homes  
$235,985
  Existing Homes  
$224,400

Source: Intermountain MLS

 

Boise Idaho Real Estate Market Snapshot

345000

Median Price

202503

7 Year Appreciation

6395

New Homes Built

759000

Boise Metro Population

Towns North of the Foothills

 

Emmett Idaho Homes for Sale

Median Existing Home Values
$150,050

Median New Home Price
$149,900

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
$205,500

Median New Home Price
$450,000

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