I primarily work in the West Central Mountains, but I do sell a few homes each year in the Treasure Valley, so I make it a point to keep an eye on that market, too.
This year’s market has been a bit unpredictable, with fluctuations in both demand and pricing. Right now, Southeast Boise and The Bench are emerging as hot spots, with steady demand driving activity in those neighborhoods. On the other hand, Meridian is seeing price reductions and slower sales.
I thought it would be fun to compare sales from Ada / Canyon Counties to Valley County. As you would expect the number of units sold are a small fraction in Valley County versus Ada and Canyon. But you can see how our sales numbers can swing wildly because the number of units sold is so small.
The most surprising statistic is the number of months of inventory we have versus the Treasure Valley. They are still operating in a low inventory market and we have almost a year of inventory. I would say this is a good illustration of a second home market vs an urban market. For homeowners we hope the prices stay steady but if the market gets more motivated to sell we could see some significant price reductions. Sellers are getting an average of 96% of list price in Valley County.