Ada County Spring Market Update

Ada County Spring Market Update

Spring tends to be when we get extra questions about the market here locally. On a broad scale, we like to break it down by county as the major counties we service include very different markets. When we have clients looking into specific neighborhoods and areas, or reaching out for valuation information for their area, we get even more specific in their hyper-local markets. 

In the broad sense though, here's some data for what has recently been going on in Ada County as a whole.
Ada County includes Boise, Meridian, Eagle, Star, Kuna, and Garden City.

Market Activity & Demand

• Pending Ratio: The market is active, with an 85% pending-to-active ratio countywide. This means for nearly every active listing, there’s almost one pending sale, indicating strong buyer demand.
• Inventory: Months of supply is at 2.4, which is still considered a seller’s market (below 4–5 months).

Pricing Trends

• Average List Price (Active): $843,942
• Average List Price (Pending): $707,870
• Average Sold Price: $630,486
• There’s a significant gap between active list prices and what buyers are paying, so pricing competitively remains key.

Days on Market

• Average DOM (Active): 62 days
• Average DOM (Sold): 50 days
• Homes are moving steadily, but not as quickly as peak pandemic years. Well-priced homes, especially under $500k, are seeing faster movement.

Sale-to-List Price Ratios

• Avg. Sale to Final List Price: 99.3%
• Avg. Sale to Original List Price: 97.6%
• Most homes are selling very close to their final list price, but note the slight drop from original list price—price reductions are sometimes needed to secure a sale.

Pricing Segment Insights:

• 0–500k: Fastest-moving segment, with a pending ratio above 100% and just 1.4 months’ supply. This is where demand is highest and competition most intense.
• 500k–1M: Strong, but slightly less frenzied than entry-level; 88% pending ratio and 2.9 months’ supply.
• 1M+: Softer market, with a 51% pending ratio and over 5 months’ supply—buyers have more leverage here.

Recommendations:

• Sellers: Pricing right is crucial. Overpricing leads to longer market times and likely price reductions.
  Entry-level homes can expect quick sales if priced competitively.
• Buyers: Be prepared to act quickly in lower price ranges, but you may have more negotiating room at higher price points.