Dreaming of moving because you want a change and a new home? Did you know the average home price in Ada County is $335,000? It actually rose from last year and is predicted to continue to rise. If you're looking to sell your home then now is the perfect time.
Take advantage of these high prices before it's too late, and you can make a nice profit off your home. Read on to discover what Boise real estate looks like and will look in the coming year.
Boise Real Estate 2019
Are you wondering how Boise Idaho real estate is? The good news is it's excellent in Ada County. If you're a seller the market is hot, but if you're looking for an investment, it'll be a bit more difficult but still possible.
Boise is still a great opportunity for investors and is considered one of the best real estate options out there.
Boise Forecast 2019 & 2020
According to Zillow, market predictions are that homes will rise by 8.5%. Investing now will mean big gains in the coming year. Boise has a strong economy and employment which makes buyers confident in their future home.
If you're looking to raise a family, you'll be happy to know most homes in Boise are single-family detached homes. If you see a home you like you'll want to jump on it since the market is extremely competitive and they're multiple offers on one property.
Boise is considered one of the quickest growing homes in the country with limited housing opportunities, so you'll want to jump at the opportunity to own a Boise home.
They're currently 1,025 homes for sale on Realtor.com. In May 2019 there were more buyers than homes available, which means it's a seller's market.
This is the site to go to for home seller tips.
Boise Homes for Sale
This report shows supply and demand continue to drive up prices in Ada County since they're not enough homes available. Because of the lack of inventory for lower-priced homes, the price of higher-priced homes continues to rise. Home prices above $300,000 continue to rise.
Best Places to Buy Real Estate
If you're looking for the best places to buy real estate in Boise you'll want to invest in these 10 neighborhoods:
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City Center
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North 13th St/Brumback St
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Boise Hills Village
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West State St/Plantation Dr
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North 26th St/Sunset Ave
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Vernon
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Kootenai St/S Federal Way
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Hill Rd/N 36th St
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Greenwood Cir/S Montevista Ave
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Morris Hill
Should You Invest in Boise Real Estate?
If you're wondering if real estate Boise is for you, you'll need to dig deeper to answer that question. First off, many of the wealthy invest in real estate. Of course, now is a great time to invest in real estate because prices continue to go up.
Before you know it you could have a nice profit and investment. Even though Boise is considered expensive in Idaho, compared to the rest of the U.S. it's not as much as some of the most expensive real estate in the U.S.
Pros of Boise
If you're thinking of Boise Idaho real estate, they're many pros of living in Boise besides the increasing home prices.
The first pro is the student market. Did you know Boise is the largest population center in Idaho? Boise State University is also located in Boise as well. Also satellite campuses for The University of Idaho and Idaho State Unversity, plus Boise Bible college.
All of these campuses here make Boise a great investment opportunity for those who want to buy and rent out homes to college students.
Boise has excellent job growth, plus home to many lumber and food processing companies. If you're looking for technology positions there's Micron Technology, Hewlett Packard, and Simplot.
If you're looking for Idaho homes for sale and renting them out, the rental market is excellent in Boise. Even though homes are lower than other states, the pay is lower too, so many people rent.
You can still get a nice 4 bedroom home for a decent price especially compared to other states.
Boise Single Family and Rental Properties
Single-family rental homes have gone up 30% in the last 3 years. Almost all housing needs in the U.S. has been recently filled by single-family rental units.
Other homes types that are prevalent in Boise are:
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High-rise apartments or complexes — 15.64%
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Duplexes or homes converted into apartments — 9.12%
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A few houses and detached homes — 5.80%
Decent Returns
If you're still not sure whether real estate Boise is for you, there's a decent return on investments in Boise. While rent is about $1,113 for a 2 bedroom apartment, you could charge much more than that for a single-family house.
Affordable properties in the area plus low taxes help to make investing in Boise a great option. Also, the demand for single-family homes in the area will make sure your investment will grow for value.
Next Steps
In this guide, you learned about Boise real estate and the growing trends currently and for the current months. If you're looking for homes for sale in Idaho, you're in luck! While it's not as inexpensive as some places, it's still affordable and will continue to be.
If you're dreaming of finally selling your home, housing prices have gone up throughout the years so it's a perfect time! The demand for homes in the area has never been higher!
Investing or selling your home, it's the perfect time in Boise! Would you like to learn more about real estate? Check out our news articles.
