Welcome back to our latest look at what the real estate market is doing in the Treasure Valley… the area around Boise, Idaho. Mareen and I look at Ada County and Canyon County specifically and do a data-driven dive into the housing market numbers. From that, Mareen creates these market summary sheets (in pdf format) that you can download for FREE! (Click on any of the charts below to open up the pdf file.)
You can see our video analysis at the bottom of this page. And… if you know someone who needs to see this market summary, just send them to www.IdahoRealEstateMarket.com and that will take them to our newest market update.
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 to see which communities have significantly more sales than the whole big city of Boise… or where you can find more exclusive homes or where you can get the most bang for your buck.
Mareen highlights the local median price (Ada County in this case) vs. the National average 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. You get a good idea of the ups and downs throughout the year.
The bottom chart looks back about 25 years at price levels and inventory levels. The historical context really helps to understand current numbers. Notice the “normal” times and then the effect of Covid. Also look at the typical cyclical nature of the market… things pick up in the summer and slow down during the winter holidays.
This is the second page of the market summary, this one being Ada County, that charts the various data points for the past 25 years. Is our current interest rate “normal”? Do we have a glut of homes sitting on the market for long periods of time (DOM = Days on Market)? These 25-year look-backs really provide good long-term context… and maybe a clue of where things are heading in the big scheme of things.
Market Summary Chart for Canyon County
Here is the similar market summary sheet but for Canyon County. You’ll want to look at the same things as on the Ada County summary sheets but notices the difference from one side of the valley to the other. Canyon County is consistently… over long periods of time… a better value for homebuyers in terms of a lower home cost.
That’s not to say you can’t get homes at a lower price in Ada County; there are just not as many. But there is more to deciding where to live than just the home price… location, location, location.
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 for the past year; they go up and down depending on the time of year (among other things).
This is also seen in the bottom chart along with 25 years of market context… just like we talked about for the Ada County chart.
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
