Boise Tops Nation in House Market Jump Since 2011
People are moving here. Whether you were born here, have been here 10 years or are new to the Treasure Valley the housing market is on a fast upward trend and doesn't look like it is going to break anytime soon. According to a new report by Zillow, the housing market in the Boise metro area (Includes the hottest zips in Boise, Meridian, and Nampa) has more than tripled over the past decade! That's HUGE! Since 2011 Boise metro area has had the biggest increase in the country compared to any other largest metro areas.
According to the Zillow nerds who crunched the numbers home values in Idaho increased 149% since 2011. Second place behind us was Nevada with 146.3%, third place was nearby Utah whos housing market went up 126.2%, my home state of Arizona was fourth place and up 116.5%, Colorado was at fifth place value increase over the past decade with 111.6% increase and Washington at sixth 108%. All of those states more than doubled their home value in the past decade but Idaho is topping it!
KTVB is showing that Ada County median home prices hit a record $425,000 in November 2020, according to a report from Boise Regional Realtors. Between the historically low home mortgage rates and people moving here like crazy it is a perfect storm for a surging market. Also with more people working from home due to COVID many re-evaluated their housing situation and from apartments to home or just into bigger homes when able. The up, up, up housing market is expected to continue through 2021.
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