There has never been a better time to own real estate in north Idaho. As property values continue to grow rapidly, it is making it harder for first time home buyers to enter the market:
Continuous Growth of Post Falls shown in market report:
The median home sales price is at $256,000. Up over .32% in both the last quarter as well as the last 30 days. A 17.58% gain over the last 12 months and a whopping 25.33% gain in the last 24 months. The last 36 months gain sits at 37.67%. Though no one can predict the future and many believe this may be the last year of large increases, there is no current concensus that the market will do anything other than slow the growth process over the next year. If you are thinking about buying in North Idaho, there is still time to make money through equity gains if you move forward now.
What about selling your home or lot?
Since the trends in growth are beginning to show signs of slowing down, now is a great time to list your home. If you have owned your home over the last 3 years or more you have already realized substantial equity gains over 37% so selling while “on top” is a great way to maximize the profit on your investment. If you have a secondary lot, investment home, or commercial property to sell there has never been a better time to do it. Current inventory (amount of homes on the market for sale) is very low, almost all-time low so many properties end up in a bidding war driving prices up beyond asking prices. If you want a free comparative market analyses done to determine your properties’ worth contact us today.