Those of us here in Boise, Idaho, already know that the housing market here is booming. Recently, Realtor.com released its “Top Real Estate Markets for 2020” report, and number one on the list is Boise, ID.
According to the report, sales of homes nationally are expected to slow by 1.8%. In contrast, the top ten markets, including Boise, are expected to see about a 2.4% increase. With the continued demand, home prices in the area are going to continue their ascent.
Mike Brown, owner of The Mike Brown Group at Silvercreek Realty had this to say about The Top Real Estate Markets for 2020: “It’s not surprising to see Boise among the top real estate markets in the country. The report is definitely going to lift the veil of what current Boise area residents already know: that Idaho is a terrific place to live.”
The figures also support Boise’s top ranking. According to the third quarter Cross-Market Demand report, available on Realtor.com, nearly 63% of listings viewed for the Boise metro area were from out of state. And given that Boise has doubled in population in the last 30 years, expectations are that it’s going to more than double in the next 30 years as the area gives people an opportunity to buy a great home at a significant discount over what a similar home may be going for in their home state. Additionally, mortgage interest rates are expected to remain low which will further fuel demand.
Brown has some suggestions for both buyers and sellers to take advantage of the continued sizzling real estate market in Idaho.
“Fall and winter are great times to sell your home. If you list in January or February, you’re going to beat the rush come spring. People are visiting from out of state now (December) to experience the Boise area and make their relocation plans for 2020,” said Brown.
He continues, “buyers, on the other hand, can take advantage of down months when there’s less competition for homes. Late June through Labor Day are usually great times to buy a home as people are enjoying the Idaho summer.”
It’s important to work with a Realtor® who knows the market and helps you stay ahead of market trends. Additionally, a Realtor® is your advocate that will help you negotiate the best deal when buying or selling a home. If you’re interested in learning how we can help you capitalize on the market, please contact our office at 208.278.4300