2018 IDAHO PRICE FORECAST
Greetings from the Trail 27 real estate office.
As we nestle in to our new offices located in the North End at 620 W. Hays Street, I wanted to take a moment to share some thoughts with friends and clients like you who I believe are interested in knowing how our real estate market is doing and what we can expect for 2018.
Not surprising with the old adage of supply and demand rang true for 2017. According to a national moving company, there are approximately 40 families moving here daily. It’s not surprising as people flee areas of the mid west and west coast, looking for a better lifestyle in a safe affordable area, like Boise. In fact, Ada county home sales surpassed the $3 billion mark for the first time.
We just can’t seem to keep up with the number of buyers moving into town. Inventory is down 9% as availability of homes for sale continues to steadily decline. The good news is that the demand is being driven by home buyers, not investors and/or speculators, so we are encouraged that our market is stable. As we saw supply continue to decline, naturally prices rose. In fact our prices rose by an average of 10%. Boise is one of the few cities seeing strong growth from 2017; and 2018 doesn’t look to slow down by much. Please visit the attached Pricing Forecast for Idaho, written by the National Association of Realtors.
As we look to 2018 we have strong reason to remain optimistic:
People are moving to the Boise area for lifestyle choice as the top reason. We seem to make every national Top 10 list for livability. With a strong economy and low unemployment rates, we are getting ready for a busy year. Our goal is to help 100 families achieve their real estate goals. I believe the one thing we do best that sets us apart from other Real Estate Brokerages is that our #1 priority is helping our client better their lives. It’s never about the closing of the deal, it’s about helping our community to better their lives. Who do you know that can use our compassion and guidance? We are here to help!