Short summary: Provides numbers and projections on home price trends in Boise, ID in 2019 through 2020, and also in two other neighboring areas. Also encourages readers to contact Sammamish Mortgage to learn more about the Boise real estate market and the buying process.
As home prices in areas such as Seattle have skyrocketed in recent years, many buyers have gone elsewhere to search for suitable homes. In the most recent 12 month period, median home values have actually dropped in Seattle, according to Zillow, but this is primarily due to the fact that many would-be buyers in the Seattle market have been priced out as a result of previous price increases. For those who want to stay in the Pacific Northwest, many buyers have flocked to Boise, Idaho. The city of Boise is currently listed as a “hot” market by Zillow, and Zillow predicts that the Boise real estate market will stay hot in the immediate future. Certain subareas within Boise (or adjacent to Boise) have become particularly desirable and have showed gains which outpace the rate of growth for Boise in general.
In this post, we will look at home price trends in Boise, ID in 2019 through 2020. We will also look at price trends in a specific subarea of Boise, and the price trends in an area which borders Boise. These latter numbers will help give us a deeper sense of what’s happening in the Boise, ID real estate market. Finally, we will encourage our readers to reach out to our mortgage professionals to learn more about the Boise market, the buying process, or other related topics. Our team of professionals is here to help you navigate the market and determine the best course of action for you. View Idaho Housing Forecast
To recap, we will cover the following information”
- Home price trends in Boise, ID as a whole
- Home price trends in Hidden Springs, ID
- Home price trends in Garden City, ID
Home Price Trends for Boise, ID as a Whole
As mentioned, Zillow currently labels the real estate market in the city of Boise as a “hot” market. As of July, 2019, the median home value in the city of Boise, ID is $301,500. This value represents an increase of 12.7% over the last 12 month period! It wasn’t too long ago that we saw double-digit gains in the Seattle area; now, it appears that things have migrated east as we’re seeing this same level of growth in Boise. Zillow predicts that Boise will experience an additional growth of 5.3% in home values over the upcoming 12 month period. This is a considerably slower rate of growth than what was just experienced during the previous 12 months, but it’s still an impressive pace of growth! These numbers should all come as very good news for prospective buyers. Not only is the real estate market of Boise very affordable when compared to other Pacific Northwest cities, it’s also clearly on an upward path. If you jump into the market now, you could be handsomely rewarded years down the line with a property which has appreciated greatly in value.
Home Price Trends for Hidden Springs, ID
Although these numbers for the city of Boise, ID as a whole are impressive, things are even better when we look at specific subareas within Boise. In Hidden Springs, an area on the northern side of Boise, the current median home value is $313,900, which is a bit higher than the general Boise median. This subarea has seen an increase of 15.4% over the past 12 months! What’s more, Zillow predicts that this area will see another increase of 7.1% over the upcoming 12 month period – another very sizable increase! Zillow classifies this as a “red hot” real estate market at the present time. These numbers were taken from zip code 83714, which is where Hidden Springs is located. Technically, this zip code includes parts of Garden City, ID; but a large chunk of the area listed under 83714 (in the Zillow database) is within the borders of Boise proper.
Home Price Trends for Garden City, ID
Located to the immediate northwest of Boise is Garden City, ID. Over the past 12 months, Garden City has also experienced impressive growth in home values. Garden City saw an increase of 9.5% over the most recent 12 month period, and Zillow predicts a healthy growth rate of 4.4% over the course of the upcoming year. These numbers are encouraging. Even though Garden City hasn’t seen as much growth as Boise, and is projected to have a slower rate of growth in the upcoming year, it’s still a very healthy market. If you decided to plant roots down here, instead of Boise proper, you’d likely still be making a smart investment.
Get in Touch with Sammamish Mortgage to Learn More
Even though we’ve seen other Pacific Northwest cities in the spotlight because of their impressive markets, it looks like Boise may be poised to steal the show in the near future. Home price trends have been in a very steeply upward trajectory over the past 12 months, and projections indicate further (though less striking) gains over the coming 12 months. Now maybe the time to flock to this market if you’re looking for a home.
If you’re thinking about buying in Boise, ID, you will definitely want to contact the mortgage professionals at Sammamish Mortgage. Buying a home can be a very complicated process, and it’s a good idea to have a partner to help you navigate through this process successfully. Sammamish Mortgage has been in business for over 25 years, and during that time we’ve proudly helped buyers find homes in the Pacific Northwest. We serve buyers in the states of WA, ID, OR and CO, and so we have a detailed knowledge of these markets and the various rates which can apply. If you’d like to learn more, Contact Us right away to get in touch with an agent. You can also View Rates to see current mortgage rates, get a Rate Quote, or even Apply Now to get the application process rolling. We look forward to hearing from you!