Boise Home Prices Drop Nearly 15% After Pandemic Boom, But Remain Well Above Pre-Pandemic Levels
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The Boise housing market saw a major increase in prices during 2021-2022, but prices have dropped 14.5% since peaking in May 2022.
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The influx of migration to Boise, especially from California, led to the rapid price acceleration.
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Median home prices in Boise remain well above pre-pandemic levels, making a return to sub-$300,000 prices unlikely without a crash.
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Housing inventory has plunged across Boise, with available homes down 46% year-over-year in the metro area.
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Homes are selling faster, with median days on market down 30.8% in Boise city proper compared to August 2022.