The latest data on the Boise residential real estate market shows a mix of data points during a busy time of the year for home sales.
In Ada County, the median price of a home sold rose in June for the third straight month, landing at $545,000. That’s the highest median price since August of last year, but still cheaper than the median in June of 2022.
In Canyon County, the median price fell slightly, to $405,000, from $415,000 a month ago. It’s also less than the median price a year ago.
The median price of a home is the “halfway point” of all sales, meaning half of all homes fetched more, and half fetched less. The data comes from the Intermountain Multiple Listing Service.
While Ada & Canyon Counties often trend in the same direction over longer periods of time, the trends can vary on a month-to-month basis.
The number of homes available for sale on the last day of the month across the two counties totaled 2,106 – up for the fourth straight month. However, the inventory is lower than in June of 2022 when 3,326 houses were on the market.
With lower inventory, fewer homes sold during the month as well. IMLS said 773 homes found a buyer in June in Ada, where 417 Canyon houses closed. That’s less in both counties than a year ago.
The average home seller found a buyer in 33 days in Ada County, and 53 days in Canyon. That’s a little bit quicker in Ada County compared to May, and a little slower in Canyon County compared to the month before.