If January is any indicator, 2020 will not be the year of the Treasure Valley home buyer.

With five new price records, 2019 marked the eighth consecutive year home prices have risen in the Boise Metro area. The first month of 2020 is showing a continuation of that trend with upward appreciation entering its ninth year.

The median single-family home price finished the month of January at $354,900 in Boise, up 20.31 percent from the year prior.

Over the last 12 months, house prices in Ada County rose 15.33 percent to a record $363,000. In 2011, the median home price was just $145,000.

For Treasure Valley home shoppers, there is little to choose from. The total supply of homes for sale in Boise dropped to an anemic 0.73 months. At 1.17 and

Miss the bidding wars of 2018? Based on current trends we may be headed for the hottest Boise real estate market in two years.

The Boise median single-family home price jumped $42,600 to $335,000 in the month of December, finishing out the year of 2019 with a 14.57 percent increase.

In Ada County and Canyon County, the cost for the typical home rose 8.02 percent and 13.08 percent, respectively.

While every city in the Treasure Valley is seeing higher prices, the lowest priced markets continue to appreciate the fastest. “Luxury” markets are seeing the smallest year-over-year price gains with Eagle up a relatively paltry 3.73 percent.

Compared to last year, total homes sales rose 18.76 percent in Ada County and 26.11 percent in Canyon

As I write this, home prices are hitting new record highs as the Boise real estate market leads the nation in appreciation.

In the past year, Boise home prices have risen 11 percent while the supply of homes for sale has declined by 10 percent.

What will the new year bring?

By definition, a forecast is an opinion about future events. Even so, I’ve made a point to focus on the facts and current trends that are already in effect, avoiding any wild speculation. Read on for an insider take on the Treasure Valley housing market in the months to come.

Boise Home Prices Will Continue Rising

Today, one in six listings are seeing multiple offers. By spring, we expect that number to jump to one in three.

Driven by low interest rates and a

Looking for an affordable neighborhood in Boise? You are not alone.

It’s no secret that Boise is a great place to live. The City of Trees routinely tops national “best of” lists for its low cost of living, quality of life, inner-city gems like the Boise River and Greenbelt, and its close proximity to outdoor adventuring.

While Boise is ranked as “more affordable” than the average city on a number of factors, such as healthcare costs and transportation, housing costs are now higher than the national average. Housing prices are also among the fastest-rising in the U.S., which can make finding your dream home at an affordable price challenging.

Fortunately for home buyers, there are still relatively affordable neighborhoods in Boise – you just

The fastest appreciating city in the fastest appreciating state continues to show strength as home price growth in Boise tops 12 percent.

If you have been following the local real estate market, even casually, it should come as no surprise that the Boise area is still very much in a seller's market.

In August, the Federal Housing Finance Agency released a report showing home prices in Boise, and across Idaho, rose faster than anywhere else in the US during the second quarter of 2019.

That same month, prices across the Treasure Valley hit new record highs, the fourth time that has happened since January.

While we tend to see a dip in local home prices this time of year, and this September was no different, the decline has been pretty minor,

What kind of house can $400,000 get you?

According to the Census Bureau, the median home price in the Western US is $410,600. If you are moving to Idaho, or from The Gem State, the data shows your relocation will most likely include California, Washington, and Oregon.

It probably doesn't come as much of a surprise that $400,000 doesn't buy much in major metros like San Diego (median home price $665,000), and even less in San Francisco ($1,762,500). But what about cities typically considered more affordable like Denver, Seattle, and San Bernardino?

While the days of the $200,000 house with the white picket fence and room for a family of four are no more, a quick look at the choices reveals Boise home prices are still relatively cheap.

Take

You have heard it before, "buying a home is a great investment." But just how good has owning real estate in the Boise market actually been?

As it turns out, probably better than you think.

The median home value in Boise has risen for eight years in a row. If you bought a house in that timeframe, you have most likely done very well.

While some fortunate buyers may have purchased at the market bottom, about half have purchased in the last five years, making that a better frame of reference.

Between the first half of 2014 and the first half of 2019, median home values in Boise jumped a staggering 68.4%.

So what happened if you bought a house in Boise five years ago?

If you bought in 2014, you paid the then median price of $193,000 and like the

Over the last twelve months, the cost of the typical home in Boise rose by nearly $1,000 a week.

Boise’s median single-family home price increased to $335,000, up 17.54 percent from $285,000 last May.

Ada County home prices also reached a new record of $342,765, an increase of all most $38,000 or 12.42 percent.

In contrast, Canyon County prices are up only $34,200 to $243,200. That’s below the record high set last month but still the second highest on record.

In Boise, homes are selling in a median of six days on market. Even that number understates demand as many savvy sellers won’t review any offers for 48 to 72 hours. The delay gives more time to buyers to see the property, therefore, increasing the opportunity for multiple offers.

Local home prices surge to new highs as spring selling season kicks into high gear.

The median price for a single-family home in Boise jumped 18.15 percent to a new high of $324,900 in April. That is an increase of $6,000 from the previous record set just last month.

Home prices in Canyon County rose to a new record $248,500 - pushing prices up 18.96 over the last twelve months. The cost of the typical house in Nampa jumped 19.19 percent to $250,990, crossing the $250,000 mark for the first time.

Even in places like Emmett with its 23-mile commute to Boise, once considered too far for many buyers, demand has pushed prices up over 24 percent this year.

Ada County house prices finished April at $330,000. That is down slightly from the

Twelve months after crossing the $300,000 mark for the first time, Boise area home prices rose nearly 10 percent in March.

The median single-family home price in Ada County increased to $336,126 setting a new record. Up 9.36 percent or $28,680 from the year prior.

Local home buyers purchased 836 homes last month with area listings taking 24 days to sell, or 9 days faster than last month.

For the first three months of 2019, total home sales are on par with what we saw at the same time last year.

The cost of the typical house in Boise rose to $318,900, also setting a new record. This eclipses the previous median home price high set just last month.

Canyon County prices rose 8.54 percent over the previous twelve months, finishing the first