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A Summary and a Forecast of Boise Real Estate Trends in 2023

February 14, 2023

Moving to Boise? Thinking 2023 might be the year you sell your house, or buy your first home? Are you from out-of-state, and have caught the Idaho-fever? Or perhaps you're considering jumping into real estate investing, the easiest way to make passive income! (We'd recommend it, to say the least.) Whatever your needs are in 2023, we're here to provide you with a Boise (real estate) forecast so you can plan accordingly!

As we all know, home prices have skyrocketed in the Boise area during the past few pandemic years. As we head into 2023, according to Realtor.com's analysis, prices are expected to continue to rise, but just at a slower rate. They expect the Boise Metro to experience a -10.9% year-over-year sales increase, with a price growth of 8.7% year-over-year.


For the first time since 2010, home prices ended 2022 lower than where they started (with the median home price declining by an average of 5.7%). This is due in part to the dramatic increase in interest rates, which put a stop to the rapidly skyrocketing median home prices. This is seen most sharply in areas like Garden City, who experienced a -28.3% year-over-year change in 2022. Star and The South Valley are the only areas in the Boise Metro and surrounding areas who saw a positive year-over-year change, at 6.3% and 10.4%, respectively. 


Here are the median single-familiy home prices and year-over-year change in the Elevate Homes neighborhoods: 


  • Ada County (Boise & Boise Neighborhoods): $515,000, down $31,000 (-5.7%) 
  • Eagle: $780,000, down $63,375 (-7.5%) 
  • Garden City: $407,500, down $161,000 (-28.3%) 
  • Meridian: $490,000, down $77,445 (-13.6%) 
  • Star: $579, 510, up $34,520 (6.3%) 
  • Caldwell: $351,283, down $33,667 (-8.7%)
  • Middleton: $586,100, up 10.4%
  • Nampa: $399,495, down $15,495 (-3.7%). 


Going into 2023, the inventory of homes is expected to increase, with a 151.2% year-over-year increase at the end of December 2022 in Ada County. Homes are also staying on the market longer, with the most recent numbers at 62 days on the market, a 93.8% year-over-year increase. 


No matter your needs or your hopes for 2023, we are committed to helping you navigate the Boise real estate market. We value walking alongside our clients, ensuring you have the most personal, worry-free real estate experience possible. 


For inquiries, call us at 208.254.1501, or email us at info@elevatehomesidaho.com today. 


Real estate, Homes for sale, Home buying, Real estate agent, Property search, Home listings, Real estate investment, Property management, Home selling, Real estate market, Real estate trends, Real estate news, Real estate services, Real estate financing, Real estate appraisal, Real estate valuation, Real estate listings, Real estate investment strategies, Home staging, Real estate development, Real estate investment trusts (REITs), Home renovation, Real estate contracts, Real estate law, Real estate transaction, Real estate ROI, Real estate marketing, Real estate SEO, Real estate analytics, Real estate data analysis , Home listings, Real estate agent, Mortgage, Property value, Home inspection, Closing process, Title search, Home financing, Home appraisal, Real estate investment.

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