Wow, what another strong year in real estate it has been!
Boise Idaho was third for the hottest zip codes in real estate for 2019 according to Realtor.com.
Among last year’s top 10 hottest markets in America, there were some consistent factors driving their popularity, including: large numbers of high earning millennials scooping up homes, relatively affordable home prices and strong local job markets. As the #3 on this list, Boise had a median sales price of $289,950 with an average days on market of only 14 days. Their job growth was as 2.9% and unemployment as only at 2.5%.
Another factor contributing to these hot housing market is residents have money to spend. On average, resident incomes in each of these areas are 6.5 percent higher than the national median. All these new residents are exploring the state and many are finding second homes in our area of McCall, Donnelly and New Meadows, which has seen a huge increase in our real estate market locally as well.
Here is a quick overview of how the real estate in our area has changed over the last couple of years, put together by the local Mountain Central Association of Realtors and does exclude timeshares, fractional and multifamily residential.
There has been a 14.79 % increase in the number of listings sold around McCall from 2018 to 2019. Cascade has had a 3.51% increase, New Meadows has has a 31.58% increase and Donnelly is the only one who has seen a decrease of .85% in listings sold from 2018 to 2019.
The median sold price for McCall in 2019 was $405,950, this is up from 2018 which was at $370,000
The median sold price is Donnelly in 2019 was $321,575 this is also up from 2018 which was at $275,000
The median sold price in Cascade in 2019 was $266,950, this is quite higher than from 2018 which was at $162,500
The median sold price in New Meadows is 2019 was $295,000, and not surprising that this is also up from 2018 which was at $276,500
Our area has been on an upward projection in the real estate closings for many years. The strong economy and low interest rates have been the major drivers of our real estate market remaining strong. However, it has been the quality of life and surrounding beauty that drives people to this area and take on residency.