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After several months of decreases, home prices increase slightly in Treasure Valley

The median price of a home ticked up in October, in both Ada & Canyon counties – the first increase after several months of decreases.

That’s according to data released by the Intermountain Multiple Listing Service.

In Ada County, the median price of a home last month was $561,600, up about 4% from September. The price is also up about 5.1% from October of last year.

In Canyon County, the median price also increased, to $434,814 – up 1.8% from the prior month, and up about 3% from October of 2021.

The median price is the halfway point – meaning half of all houses sold got more, and half got less.

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The prices are still far from the peak achieved this spring, when prices topped out at $602,500 in Ada in May and $476,500 in Canyon in April. Both counties had seen prices decrease every month since those peak prices before the October increase.

The number of homes was flat from September to October between the two counties, with 1,041 sold in September and 1043 in September.  

Inventory – the number of homes for sale – also dropped slightly from September to October, but remains well above the levels seen in 2019, 2020 or 2021. As of the last day of the month of October, the MLS had 3,399 homes available for sale.

Chart by Visualizer

The average time it takes to get a deal in place dropped slightly in Ada County, to 42 days in October from 44 days in September. In Canyon County, the metric actually increased significantly, from 38 days to 49 days.

So far this year, the number of homes sold is pacing well behind recent years. A total of 11,769 houses were sold in October in Ada & Canyon counties from January through September, a drop of 14% from the first ten months of 2021. That puts it behind every year’s sales since 2016. The last time fewer houses sold through the first ten months was in 2015.

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Don Day - BoiseDev Editor & Founder
Don Day - BoiseDev Editor & Founder
Don is the founder and publisher of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow. Contact him at [email protected].

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