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Idaho
Idaho has been putting out the doormat for businesses to move to the state, and its been working. Bolstered by a strong economy and state tax incentives the state best know for being the potato capitol of the world has come along way.
Boise now tops 500,000 residents and it is more than projected to double in size in the next ten years. The median price for a home in Boise is $162,000 and the market is forecast by Housing Predictor to appreciate at 6.1% in 2007 even with slower home sales.
Boise has been growing at its fastest pace in history. Employment is high and many new businesses are moving into the area. Its become a mini-high tech center.
|
| City |
Median Price |
Forecast |
| Boise |
$ 162,000 |
6.1% |
| Coeur d'Alene |
$ 129,000 |
4.2% |
| Idaho Falls |
$ 121,000 |
4.7% |
| Sun Valley |
$ 705,000 |
4.1% |
| Lewiston |
$ 126,000 |
3.8% |
Coeur d'Alene, where one of the Nations most beautiful lakes is located, from which the city derives its name, is also growing with more new businesses. The median price is $129,000 and is forecast to appreciate 4.2% on average for 2007.
To the south in McCall a transformation is occurring from a quiet sleepy community into a resort destination. McCall has seen condo developments for the first time, and this once sleepy little village is growing a real estate market that is making inroads into the second home market. Sales have slowed in McCall, but it will appreciate 4.0% in 2007.
Despite an appreciating market for more than 3 years, Idaho Falls still has some of the least expensive homes in the nation. The median price is $121,000 and is projected to appreciate 4.7% in 2007.
Sun Valley may be the most recognized name of all in Idaho known for its world-class skiing resort. In recent years many well known actors have purchased second homes in Sun Valley. Sun Valley is the single most expensive Idaho market with average prices going into the $850,000 range for a home.
The median price is $705,000 and prices seem to be holding their own in this high end market. However, sales for the average home buyer have slowed to their lowest level in nearby Ketchum and Sun Valley as working class folks are priced out of the market. Sun Valley is projected to appreciate only 4.1% in 2007.
Lewiston is also another one of this mostly rural states larger cities. With a median price of $126,000 it is projected to appreciate, but much more slowly at only 3.8% in 2007.
Idaho is a state mapped in green during the spring and summer months with its towering forests and covered in the white snow during its harsh winters, but with its abundant outdoor activities, including snow-skiing, white water river rafting, and hunting its no wonder Idaho has attracted more millionaires than any other single state in the nation.
www.housingpredictor.com