The Idaho housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price for homes in Idaho stands at $482,600, reflecting a modest year-over-year increase of 0.4%. This indicates a relatively stable pricing environment, despite broader economic fluctuations.

In contrast, the Median List Price has risen more significantly, reaching $528,500, which is a 4.1% increase from the previous year. This suggests that sellers are optimistic about the market's potential, possibly anticipating continued demand or a shift in buyer preferences.

The Price Per Square Foot has seen a notable rise, with the median Price Per Square Foot at $279, marking a 7.3% increase year-over-year. Similarly, the Median List Price per square foot has increased by 3.5% to $289. These figures highlight a trend towards higher valuation of property space, which could be driven by limited inventory or increased demand for larger homes.

Sales activity shows a mixed picture. The number of Homes Sold has increased by 7.4% year-over-year, totaling 1,895 homes. However, Pending Sales have decreased by 6.5%, indicating potential challenges in closing transactions or a shift in buyer sentiment. New Listings have also dropped by 10.3%, with only 2,057 new properties entering the market, contributing to a tighter inventory.

Inventory levels have decreased by 7.4% year-over-year, with 5,547 homes available. This reduction in supply is further emphasized by the Months of Supply metric, which has halved to 2.9 months, a significant 50% decrease from the previous year. Such a sharp decline suggests a competitive market, where homes are being absorbed quickly.

The Median Days on Market have increased by 8% to 71 days, indicating that while homes are selling, they may be taking slightly longer to do so compared to last year. This could be a result of buyers being more discerning or taking longer to make purchasing decisions.

The average sale to list ratio remains stable at 98.6%, with a slight year-over-year increase of 0.1%. This stability suggests that sellers are pricing their homes close to market expectations. The percentage of Homes Sold above list price has also seen a minor increase of 0.3%, now at 11.5%, indicating that competitive bidding is still present in certain segments of the market.

Price Drops have increased by 4.5% to 21.9%, suggesting that some sellers may be adjusting their expectations in response to market conditions. Additionally, the percentage of homes going off the market within two weeks has decreased by 2.2% to 29.9%, which may reflect a more cautious approach by buyers or a shift in market dynamics.

Overall, the Idaho housing market in February 2025 is characterized by rising prices and a competitive environment, despite some signs of cooling in certain areas. The decrease in inventory and New Listings, coupled with stable sales prices, suggests that demand remains strong, although buyers and sellers alike are navigating a more complex market landscape.