High economic uncertainty resulted in the multifamily investment market seeing a major shift in 2023 compared to previous record breaking years. Based on disclosed transactions, only 10 multifamily properties traded in 2023 which is down 55 percent from 2022. Prices were up slightly from 2022, with the median price per door in Ada County reaching $288,798 and $251,902 in Canyon County. Three of the six transactions in Ada County sold above $300,000 per door. Two of these deals went under contract during the peak of 2022, but extended due diligence pushed the closings into 2023. Based on available listings, the start of 2024 has seen a significant decline in pricing with the median price per door in both Ada and Canyon County at $200,000.