The word is out! Boise, Idaho is a desirable place to live. With Boise’s numerous attractive features such as mild weather, low crime, outdoor recreation, low cost of living and great family environment, it’s no wonder why so many people are flocking to the Treasure Valley. Let’s take a look back at 2014:
The Boise housing market didn’t see much change from 2013 in the way of total homes sold. Only 86 more homes closed in 2014 than in 2013. What did drastically change however, was the increase in home values. Ada County’s average new home price was $313,191, a $34,327 or 12% increase from 2013. The average sales price of a new home in Canyon County was $192,253, which is $15,481 or 9% more than in 2013.
The inventory for both new and resale homes is currently very low–the demand for housing is way up this year. Consumer confidence and population growth in the Boise area are on the rise. Idaho is also seeing a large community of retirees relocating to Boise, which is a wonderful asset to the local economy and housing market.
After being featured in Forbes Magazine and an assortment of retirement and parenting magazines, Idaho is definitely getting the attention it deserves. The housing market in the Boise area is expected to remain very strong, and substantial growth in home values is predicted for 2015. If you were thinking of moving to The Gem State, now is the time!
Summary based on market reports sent by Mike Pennington