What do the data-driven housing market numbers look like for the Treasure Valley… the Boise Idaho area? Treasure Valley Mareen crunched some numbers and shared what she found!
You can see our video analysis at the bottom of this page.
Market Summary Chart for Ada County
This is the first part of the Ada County market summary. Things I look at are the Top 5 Areas; this shows where the most home sales were and what the median price was. It’s interesting that little Kuna, Star or Eagle has significantly more sales than the whole big city of Boise. Why do you suppose that is? Maybe because people want to live in a smaller community? But Meridian is the hot-spot for the month and it’s not a small town. Boise’s mayor is very liberal and has activist sympathies… maybe that has something to do with it.
I look at the local price (Ada County in this case) vs. the National Median price. Ada County has been running about $100,000+ more than the National price.
The Inventory, Pending & Sold for the Past Year chart is helpful to see the interplay between supply and demand. So far this year, sales are ticking up as it inventory… but the price (previous Price chart) is ticking slightly down.
The bottom chart looks back about 25 years at price levels and inventory levels. The historical context really helps to understand current numbers.
This is the second page of the Ada County look at the real estate market for February. These charts have that 25 year look-back as well. It seems a “normal” interest rate should be about 5%. This graph also shows that rates in the past few years have been very spiky… spike up; spike down. The good thing about interest rates is that buyers can always refinance.
The bottom chart really shows the cyclical and seasonal results on the market. Around the holidays about every year we see the Days-On-Market goes up while the number of homes sold drops down. The opposite is true for the summer time.
Market Summary Chart for Canyon County
Here the similar market summary sheet but for Canyon County. Looking at the Top 5 Areas, Nampa is THE popular place to buy a home! The Middleton prices are very close to Star or Meridian. On the other hand, homes can still be had for under $400k in Nampa and Caldwell.
Checking out the Canyon County home price compared to the national price, Canyon County is typically right about the same as that national price (meaning, $100k+ less than Ada County).
Now looking at our inventory and sold numbers; we can see both are ticking up as homes prices slightly tick down.
This is also seen in the bottom chart along with 25 years of market context.
This is the second page of the Canyon County market summary. This is a 25 year look back and is similar to the second page of the Ada County sheet above. These numbers, however, are specific to Canyon County.
You can get your own pdf copy of these Market Summary sheets RIGHT HERE.
Watch Mareen Explain What All This Means
