Is Boise Facing a Market Correction, or is This a New Normal?

The Boise real estate market is shifting, and many are wondering: are we heading for a correction, or is this just the new reality? Let’s dive into the latest data and what it means for buyers, sellers, and real estate professionals.

Inventory on the Rise

At the end of February 2025, Boise had 653 active listings, up 27% year-over-year from 512 in February 2024. While this might seem like a significant jump, inventory remains historically low, with only 1.4 months of supply—far below the 5-7 months typically seen in a balanced market.

Buyer Activity and Sales Trends

Despite rising inventory, demand remains strong:

• Closed sales increased by 20%, from 320 in February 2024 to 375 in February 2025.
• Pending sales rose 10%, with 440 homes under contract compared to 405 a year ago.

While homes under $600K continue to see bidding wars, properties priced above $1M are experiencing longer market times. Proper pricing remains critical, as overpriced listings linger and eventually sell for less.

Comparing Boise to Other Markets

Looking at other regions, like Austin, TX, highlights Boise’s resilience. Austin has seen a 25% drop in median home prices since 2022, with days on market tripling and inventory skyrocketing. In contrast, Boise’s median price dropped just 5% from $495K to $470K—a much smaller decline.

What’s Next for Boise?

While it’s too early to call this a full market correction, Boise is experiencing an adjustment rather than a collapse. Key factors influencing the future include:

• Migration trends – Boise remains a desirable alternative to high-cost, high-tax states like California and Washington.
• Economic growth – Business investments and population increases continue to drive demand.
• Interest rates – Buyers have adjusted to 6-7.5% mortgage rates, stabilizing demand.

The Bottom Line

Boise’s market isn’t crashing—it’s normalizing. Inventory is rising, pricing is adjusting, and buyers are becoming more selective. Whether buying or selling, working with a knowledgeable agent is more important than ever.

For personalized insights and strategies, make sure you consult with a City Of Trees Real Estate agent who understands Boise’s evolving market dynamics.