Home prices on the rise in Idaho

For Lyon Johnson moving from Maryland to Idaho 6 years ago was an easy choice. With Yellowstone nearby and the less-busy city life, it was the perfect fit for his family “we decided why are we vacationing out there when we should be living out there” said Johnson. After years in their home in eastern Idaho, they decided they wanted a change.

Home prices have gone up about 9% in just the last year in Idaho. This is great news for sellers and realtors say, it’s also good news for the surrounding economy. “The market is very healthy,” said Shawn Anderson, a realtor with the Anderson Group-Keller Williams in Idaho Falls. According to CoreLogic, the percentage of 9.7% is compared to the price of homes in March of 2016. Analysts expect home prices will go up an additional 3% in the next year in the gem state.

The Johnson family had their house on the market for just two weeks “we had on offer on the first day they walked through the house,” said Johnson. The Johnson’s aren’t alone, local realtors have seen the market grow locally as well. While the Johnson’s sold it on their own, they can still see the benefit of having a realtor sell their home.

The average home price has gone up to$180,000 from $150,000 in Idaho Falls- within the last few years. Making it more of a seller’s market, “we have 332 houses for sale in Bonneville county, to put that in perspective 3 years ago there were 500 houses for sale and 5 years ago there were 800 houses for sale,” said Anderson. The low inventory and the high demand is helping the real estate market.