Boise Housing Market is Heating Up! What Buyers & Sellers Need to Know in 2025

The market here in the Boise, Idaho, area has really heated up, even though the weather has certainly cooled down.

We finally got our first snow—it's under 20 degrees right now as I'm recording this video. But I wanted to give you a brief market update about what's happening here in the Boise, Idaho, Treasure Valley area.

I don't have the current data for January, which would be the most recent pricing information. However, I can tell you anecdotally what is going on in the market.

Now that we're past the election and into the new year of 2025, many people who were waiting to see what would happen post-election are now making their moves. Talking with builders and various reps in the area, they experienced very slow months leading up to the end of 2024. However, things are picking up right now.

From what I’m seeing in the market myself, activity has increased significantly. I have picked up five contracts—nearly a sixth—within just two weeks. I also have 12 pending contracts and two closed already. That means I’m already a third of the way to what I did all of last year.

Builders are experiencing the same trend. One builder rep, in particular, told me she had closed just one sale in three months leading up to the end of 2024. But in January alone, she sold eight homes. So, things are definitely heating up.

We're also seeing some price increases with builders. However, credits are still being offered by large tract home builders, such as Hovnanian, Hayden Homes, Lennar, Toll Brothers, and CBH Homes.

On the other hand, custom and high-end semi-custom builders—where homes are priced at $700,000 to $800,000 and up—are not offering as many incentives. Prices seem to be increasing, and even for tract home builders, credits are tightening up. It's getting harder to negotiate extras that were common in the past couple of years. It’s not impossible, but it's definitely becoming more difficult because homes are selling faster, and builders don’t need to offer as many discounts.

Looking ahead, I think the market will continue heating up throughout the year. Of course, time will tell—I don’t have a crystal ball—but 2024 was the slowest real estate sales market since the early 1990s, specifically around 1995.

However, when adjusted for population growth, 2024 was actually the slowest real estate market in U.S. history. So, will 2025 be the same or even slower? Probably not. I believe we’ll see an increase in sales, which will drive up prices and competition.

I’ve already had two multiple-offer situations—one with three offers and another with two. That’s significant because, over the past couple of years, multiple-offer situations were almost unheard of. I was able to secure one of the homes but lost out on the other.

If you’re looking to buy a home now, you need to be prepared for the possibility of multiple offers, especially on resale homes. There are certain strategies we’ll need to use to ensure you can secure the home you want.

It all depends on pricing. For example, a home that was priced really well last weekend sold extremely fast. If a home isn’t priced correctly, it will sit on the market longer and likely won’t have multiple offers.

So, I’m not saying every home will have multiple offers, but the market is becoming more competitive. If you’re looking to buy a home in the Treasure Valley—whether you're moving here or already live here—be prepared for increasing competition and possibly fewer incentives.

That said, there are still deals to be made. Builders are still offering credits, but that could change as the year progresses.

If you’re considering moving this year, reach out to me. Let’s put a plan together based on your timeline so you don’t miss out on great deals before they’re gone.

Give me a call, text, or email. Talk to you soon!