According to our friends over at Boise Regional Realtors, the median sales price for existing and newly constructed homes in Ada County just reached a new record of $334,400 (which is an incredible increase of 20.3%, compared to one year ago). The price increase we are seeing for pre-existing properties is being driven by historically low inventory and skyrocketing demand. Couple that with the fact that the median cost of newly constructed homes is also on the rise (which is primarily due to rising construction costs) and you can see why prices overall have been consistently increasing. It's a GREAT time to sell! We've never seen a better time to sell. If you're contemplating selling your home or investment property - or perhaps you're just wondering what it's currently valued at - we'd be happy to provide you a no-obligation, complimentary home or investment property evaluation. Or if you're looking for a new home, fear not! Interest rates are still at historic lows and there are still some great opportunities hitting the market every day (particularly in the newly constructed arena). To browse available homes in your local area, please click here.
Median Sales Price (August 1, 2018 - August 31, 2018)
According to the Idaho Department of Labor, last December Idaho's population was 1.72 million and grew at a rate of 2.2% from mid-2016 to mid-2017. This was the fastest growth rate in the nation and three times faster than the national average of 0.7%! So, you might be wondering just where all of these people are coming from? According to U.S. Census Bureau 2016 American Community Survey, which is currently the most recent data available, here's the breakdown of people moving to Idaho: Do you know anyone moving from any of these great areas? Send them our way, we would love to help them "Find THEIR Idaho"!