Are Boise Home Prices Dropping? The Reality Is More Nuanced Than You Think
If you’re asking “are Boise home prices dropping,” you’re tracking one of the most important questions in today’s Treasure Valley market. The answer isn’t a simple yes or no, but understanding the current trends will help you make smarter buying or selling decisions.
Recent data shows mixed signals that paint a complex picture. According to Redfin, the average Boise house price was $515K last month, up 2.0% since last year. However, other sources report the median sale price at $450,000, representing a 6.3% decrease compared to the previous year. This variation highlights the importance of looking at multiple data points when evaluating market trends.
Here’s what’s really happening: while some measures show overall price decreases, the price per square foot has actually increased by 9.2% to $296. This suggests that while buyers might be getting more total space for their dollar in some cases, the underlying value of Boise real estate remains strong.
The market dynamics tell an interesting story. About 22.9% of homes in 2024 are selling above asking price, compared to the frenzied peaks of 2021, but this still indicates solid demand. Meanwhile, 58.2% of homes sell for less than list price, giving buyers more negotiating power than they’ve had in years.
Homes are now selling in an average of 36 days, compared to the lightning-fast sales of recent years. This extended timeline benefits both buyers and sellers – buyers have more time to make thoughtful decisions, while sellers can still expect reasonable sale times with proper pricing strategies.
Looking ahead, market forecasts remain cautiously optimistic. Projections suggest modest increases throughout 2025, with mortgage rates anticipated to average 6.4% in the second half of 2025 before dropping to 6.1% in 2026. As interest rates stabilize, buyer demand typically strengthens, supporting price stability.
The key insight for buyers and sellers is that Boise’s market is normalizing rather than crashing. We’re moving from the extreme seller’s market of 2021-2022 toward a more balanced market where both sides can succeed with the right strategy and timing.
For sellers, this means strategic pricing and proper preparation are more important than ever. For buyers, it means more choices and negotiating power, but also the need to act decisively when the right property appears.
At Abmont Realty Group, we help clients navigate these nuanced market conditions with confidence. Whether you’re timing a sale to maximize value or looking for the perfect buying opportunity, understanding these trends makes all the difference.
Call Abmont Realty Group at 208-789-4320 to explore your options or get a free market analysis.