July Market Report: Overpricing Your Home Could Cost You
The latest Treasure Valley housing statistics from the Intermountain MLS reveal how the initial list price can impact your home sale. One key metric, the percent of original list price received (%OLP), measures how much a home sold for compared to its original list price. Here’s a quick rundown of how %OLP works:
100% OLP = sold for the original list price.
Under 100% = indicates a price drop or negotiated lower offer.
Over 100% = sold over asking, likely due to multiple offers, negotiations or builder upgrades.
Focusing on the existing/resale segment, the average %OLP received in July was 97.4% in Ada County and 97.6% in Canyon County, meaning buyers paid about 2.5% less than asking. Now these averages aren’t a huge swing from what we’ve seen so far in 2025, but when you compare %OLP by Days on Market, or the time between when a property is listed and when it has an accepted offer, it becomes clear that the longer the home sits, the deeper the price cuts in order to sell. The charts below show %OLP and the average price drop in dollars for existing/resale sales for Ada and Canyon County for July, sorted by Days on Market.
Ada County existing or resale homes that closed in July after spending 36+ days on the market sold for an average of approximately $56,000 less than the original list price. In Canyon County, it was about $44,000. By contrast, homes that had an accepted offer within the first week of listing sold averaged about asking in Ada County and for about $1,400 below asking in Canyon County.
“Local home values have appreciated significantly in the last decade, so it may be tempting to list your home on the higher end of what you think it may be worth,” noted Jodi Harada, real estate agent with The HG Group at The Agency Boise. “However, with slowed price growth and increased inventory, overpricing can cost you time, money, and momentum,” added Harada.
Dani Gonzales, another agent with The HG Group, had this to say: “A competitive list price helps you attract buyers early and avoid deep cuts later. Buyers have more options than they did in previous years, making that first impression even more important. A trusted real estate professional can help you align with market conditions, using MLS data and local expertise to craft a competitive price and marketing strategy that maximizes your first weeks on market.”
Other relevant metrics from the latest housing market data:
The median sales price for Ada County homes sales in July was $549,900, approximately $2,655 more than in July 2024. In Canyon County, the median sales price was $429,000, about $5,500 more than the same month last year.
Home sales were up year-over-year in Ada County with 899 sales, an increase of 11.3%. There were 453 closings in Canyon County in July, down 6.8% compared to July 2024.
Ada County homes that sold in July spent an average of 39 days on the market before going under contract, three days slower than a year ago. In Canyon County, the average was 41 days, five days faster than in July 2024.
Ready to make a move? A proven real estate agent will negotiate on your behalf, address the potential hurdles to a transaction, and utilize their industry knowledge and connections to get the job done. The Agency Boise is made up of a select group of driven agents that have deep roots in the community, local expertise, and are backed with a regional and global reach. Who you work with, matters.
