May Market Report: Treasure Valley Home Sales and Prices Increase
In April, the median sales price for home sales was down year-over-year and month-over-month in both Ada and Canyon counties, and we explored the idea of a decline in prices possibly becoming a trend. The recent statistics from May’s housing market disproved that possibility, at least for the time being.
In Ada County, the median sales price for homes that closed in May was $579,900, approximately $20,000 more than in May 2024, and about $34,000 more than the month prior. Canyon County had a median sales price of $433,490 in May, about $13,500 more than the same month a year ago and nearly $18,500 more compared to April 2025.
Home sales were also up slightly in May, with 835 sales in Ada County, 3.2% increase year-over-year. In Canyon County, there were 464 home sales, a year-over-year increase of 5.9%.
Inventory, or listed homes for sale, also continued to increase and accumulate in May. Ada County buyers had 2,121 available homes to choose from in May — nearly 500 more than in May 2024 and 231 more than last month. With 1,173 active listings in May, inventory was up 10.1% year-over-year in Canyon County, giving buyers 108 more listings to choose from compared to a year ago and 38 more listings than in April. Buyers now have time and options, unlike they did a few years ago. Whether you’re looking to build, buy new, or purchase a resale home, odds are good you’ll find the right fit in today’s market.
Home prices are driven by supply versus demand, so shouldn’t we see prices decrease (or at least see price growth slow) instead of increase with this uptick in the supply of homes for sale? The answer to that is, yes — eventually. The Treasure Valley is accumulating more inventory, and with 3.0 months supply of inventory in Ada County, and 2.8 months in Canyon County in May, we’re getting closer to 4 months of supply which can indicate a balanced market which doesn’t favor buyers or sellers. Months supply is calculated by dividing the current inventory by the average sales from the last 12 months and measures how long current inventory would last if no new listings were added.
However, this dynamic takes time because there is a lag between when a home goes under contract and when it is recorded as a sale. Many of the homes that closed in May went under contract at least several weeks prior. To put it simply, we’re seeing April home prices close in May.
Additionally, less than 0.4% of the home sales in May were considered “distressed”, meaning that the vast majority of sellers aren’t being forced to sell. This gives sellers more flexibility to take the property off the market if they don’t receive an offer that matches their goals. Forced selling, like what we saw during the Subprime Mortgage Crisis of 2008, has a much greater downward pressure effect on home prices. The credit profile of homeowners today is in much better shape than it was leading up to the last housing crisis, so we don’t expect to see drastic price declines.
A trusted real estate professional 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.
Market Analysis
In Ada County,
Buyers had 2,121 available homes to choose from in May — nearly 500 more than in May 2024 and 231 more than last month.
There were 1.303 pending sales, or homes under contract, in May, up 11.1% compared to a year ago.
With 835 sales for the county, there were 26 more closings in May than the same month a year ago.
The median sales price for homes that closed last month was $579,900, approximately $20,000 more than in May 2024, and about $34,000 more than the month prior.
The average percent of the original list price received for homes that closed in May was 98.6%, meaning that on average, buyers paid 1.4% less than the price for which the home was originally listed. This is down slightly from 99.0% in April.
Months supply of inventory rose to 3.0 months in May and is at the highest level in years. Months supply is calculated by dividing the current inventory by the average sales from the last 12 months and indicates how long current inventory would last if no new listings were added. A balanced market, not favoring buyers or sellers, is typically considered 4-6 months of supply.
The most popular price range for home sales was $450,000-$600,000 with 279 sales, approximately a third of all home sales for the county. Of those, the average days on market before going under contract was 42 days and the average percent of original list price received was 98.5%.
As of June 12th, 2025, the list price range with the most inventory was $450,000-$600,000 with 636 listed homes, or nearly a third of all listed homes for the county. Of those, the average days they’ve spent on the market so far is 51 days. On average, those listed homes have undergone an average of a 2.5% price drop from the original listing price.
In Canyon County,
With 1,173 active listings in May, inventory was up 10.1% year-over-year, giving buyers 108 more listings to choose from compared to a year ago and 38 more listings than last month. New homes made up nearly half of all available homes for sale.
There were 786 pending sales in May 2025, up 4.7% when compared to the same month a year ago.
With 464 sales last month, closings were up 5.9% compared to May 2024.
The median sales price for May home sales was $433,490, about $13,500 more than in May 2024 and nearly $18,500 more compared to the month prior.
The average percent of the original list price received for homes that closed in May was 98.1%, meaning that on average, buyers paid nearly 2.0% less than the price for which the home was originally listed. This is the highest average percent of original list price received in a year.
Months supply of inventory was at 2.8 months in May, down 2.4% from the same month a year ago. Months supply is calculated by dividing the current inventory by the average sales from the last 12 months and indicates how long current inventory would last if no new listings were added. A balanced market, not favoring buyers or sellers, is typically considered 4-6 months of supply.
The most popular price range for home sales was $300,000-$450,000 with 256 sales, over half of all home sales for the county. Of those, the average days on market before going under contract was 48 days and the average percent of original list price received was 99.0%.
As of June 12th, 2025, the list price range with the most inventory was $300,000-$450,000 with 445 listed homes, over a third of all the listed homes for the county. Of those, the average days they’ve spent on the market so far is 51 days. On average, those listed homes have undergone an average of a 1.0% price drop from the original listing price.
