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Boise Real Estate Blog

Boise Area Market Report May 2022

The median sales price for homes in Ada County reached $602,250 in May 2022, an increase of 16.1% compared to the same month last year, and a new record for the county.

Like we saw in March and April, higher prices in the new construction segment contributed to overall price jump. New home sales made up 28.2% of all sales in May with a median sales price of $639,105, up 17.5% from last year. Home prices also rose to a new record in the existing segment with a median sales price of $586,750, a gain of 16.0% over last year.

Agents are used to fielding questions about what’s happening in the market, and today’s market is no exception. Higher rates, price growth, and economic uncertainty are top of mind, but prospective buyers will have more options than have been available in over two years because of the increases in housing inventory we’ve seen in recent months. On the flip side, sellers have continued to receive great values for their homes.

To read more about the trends in the market, please see the Boise Regional Realtors May 2022 Market Report.