Demand is growing in our state as we see property appreciation rates increase year over year. Idaho currently sits at about an 8.2% growth rate in property values since last year.
Property appreciation is calculated based on repeat sales of the same properties. Increasing home prices usually indicate rising demand. While in the Wood River Valley, it is still considered a buyer’s market, that may not be the case for long. If demand drives prices up then we could be a seller’s marketing in no time.
Over all, the Pacific Northwest has shown incredibly strong appreciation year over year with Washington and Oregon at over 10%. If you are thinking of buying a home in the Sun Valley area, now may be the time. All signs are pointing towards a growing market so for a solid investment, buying now is the answer.
For more information regarding home values in the Wood River Valley and purchasing your next home, give one of our Sun Valley real estate agents a call today!