Boise, Idaho was the No. 1 midsized housing market to watch in 2020, according to Zillow, because of its draw for young professionals, families, and retirees alike. In 2018, Forbes ranked the city No. 1 on its list of America’s Fastest Growing Cities.
The demand is clear — the Boise housing market has just 0.3 months worth of supply, according to Keller Williams Realty Boise, and homes typically stay on the market for just five days. That has led to a sharp increase in the median home price to $390,000, a 16.4% increase compared to this time last year.
Steven Caporale, founder and principal of Accel Realty Partners in Boise, has been in the industry for 25 years and said he’s never seen the housing market look like this.
“In high-demand areas where only one or two properties come on the market, maybe in a month, we’re seeing [buyers paying] upwards of $100,000 to $150,000 over asking price.”
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