If you’re considering a move to Boise, you’ve probably already seen articles hailing the City of Trees as a highly livable, low-cost area. Boise consistently receives accolades and mentions from publications like Forbes and Outside Magazine for its family-friendliness, outdoor appeal, and affordability. But what’s the true cost of owning a home in Boise?

Boise’s vibrant community and low cost of living make it an appealing prospect for many homebuyers. The cost of owning a home, however, isn’t only about a local area’s cost of living.

With homeownership, there are many types of expenses to take into account. Some of these costs vary wildly based on where you purchase your home—such as property taxes and homeowners association fees—while others

Treasure Valley home prices reached new highs in January with both Ada and Canyon counties setting new records.

Single-family median home prices jumped 16.63 percent in the Ada County to $279,900. The largest year over year increase in four years. Early bird sellers are benefiting from the lack of competition with packed open houses and multiple offers on anything under $220,000.

Prices in Canyon County leaped an astounding 21.46 percent to finish the first month of the year at $194,450. An appreciation rate we haven’t seen in since 2014.

The median price of a single-family home in Boise grew 13.93 percent to $256,000. Total number of homes on the market fell to a 0.76 month supply.

Keep in mind that January 2017 was the peak of Boise’s

Boise and the surrounding areas are magical all year long with stunning mountain views, pristine rivers and lakes, city lights, adventure-ready locales, and downtown events. If you aren’t already in love with Boise, you will be after you see these Instagram photos of the City of Trees showing off.

This Bird’s Eye View of the Idaho Shakespeare Festival Amphitheater

A post shared by TIME (@time) on Jun 30, 2016 at 7:43am PDT

Every single summer, we’re blown away by the sheer brilliance of the Idaho Shakespeare Festival and their unforgettable amphitheater under the stars. The photo from @time has us ready to buy season tickets right now.

This Sunset from Table Rock

A post shared by Premium EDC Gear

Record low inventory pushed Treasure Valley single-family home prices to new highs in December.

The median home value in Boise reached an all-time high of $261,544 surpassing the previous record set in September of $258,000. That is a 13.72 percent increase from just twelve months ago.

Ada County home prices finished the last month of 2017 at $277,900, just shy of the record high set in August. A 13.48 percent increase in the previous twelve months.

The median house in Canyon County surged to $190,950 in December, setting the seventh record of the year. The typical home price is up 13.66 percent from last year and up $5,000 just from the record set in July. Middleton home prices lead the way jumping nearly 21 percent year over year.

Homes

Inventory Will Remain in Short Supply

We have seen year over year metro Boise housing market inventory decline for 38 months in a row. While this trend won’t continue indefinitely, it will take a lot of new inventory before we see a balanced real estate market.

While there has been a lot of talk lately about potential home sellers “holding out”, the reality is there just isn’t that much hidden inventory. We have seen a long-term trend of people staying in their homes longer (averaging around eight years) and choosing to remodel rather than sell. If you love where you live, why move?

Sales of existing single-family homes have increased for each of the last four years and are currently averaging 935 per month, which is close to the long-term

If you are looking for an Idaho new construction home, you are in luck. November and December offer the best money-saving deals of the year.

Below we have put together a complete list of the discounts and incentives you won't find at any other time. You will find deals of up to $40,000 from some of the Treasure Valleys top home builders, in some of the best selling new home communities. 2018 may bring new floor plans and designs but it will also bring higher new home prices. With the best prices of the year, it is a perfect time to buy new construction. But hurry, all of the great deals will be gone by New Year's Day.

Biltmore Company

Holiday Promo

Save $3,000 up to $7,000 on select move-in ready Biltmore Company homes.

I meet a lot of people in my line of work. When people hear I’m a real estate agent one of the most common questions I get, "Is Boise in a real estate Bubble?" Considering local home prices have jumped over the last six years and memories of the great recession are still in the back of everyone’s mind, it doesn’t come as too much of a surprise.

There is a difference between a real estate slowdown and a housing bubble. So what is a bubble? “A run-up in housing prices fueled by demand, speculation and exuberance."

They start with high demand and limited supply which is the case with any rising market. But then, "Speculators enter the market, further driving demand. At some point, demand decreases or stagnates at the same time supply increases,

The median price of a single-family home in Ada County rose 10 percent in September from a year earlier.

While prices declined from the previous record of $278,995 set in August, September's $275,000 home price is still the second highest on record, even exceeding this June’s high. Canyon County values finished the month at $181,950, up 13.72 percent from last year. The all-time record high of $185,501 was set in July of this year.

Home prices in Boise set a new record high of $258,000 up 13.16 percent year over year.

The time homes spend on the market in Ada County dropped to 18 from 20 twelve months ago with total sales remaining basically the same at 1,041. In Canyon County, days on market decreased by 5 to 15 and total sales rose to 446 to 415.

Where

When you think of Idaho, you probably see a mental montage of stunning mountains, majestic wildlife, and winding rivers. Add this to your reel: some of the best craft beer in the Northwest.

Yep, that’s right: on top of the scenic vistas and unparalleled outdoor recreation, Idaho is the 3rd largest hop growing region in the nation. Boiseans can enjoy local beer produced right in our own backyard: around 75% of the state’s hop production happens just west of the city in Wilder and Greenleaf. If you drive through the rolling hills of Parma, Wilder, Greenleaf, and the surrounding areas in the summer, you’ll pass green fields of towering hop vines. Events throughout the year celebrate this growing community of brewers, including Alefort (part of the

Ada County’s median single-family home price increased 9.49 percent in August from a year ago, setting a new record high price of $278,995. This surpasses the previous record of $272,770 set in June of this year.

'It's Deja Vu All Over Again'. In 2016 we set an all-time record in June that was surpassed two months later in August. This was a repeat of what we saw in 2014. In 2015 prices rose steadily throughout spring and summer and didn’t peak until November.

In Boise, the median price hit $255,000 up 12.09 percent from a year ago, also a new record.

Canyon County prices are up 10.94 percent to $183,000 from last year, but down $2,501 from the record price set just last month. This is only the second time this year Canyon County has not set