TREASURE VALLEY REAL ESTATE: COVID-COMPETITIVE
BY HEATHER HAMILTON-POST
ith Covid-19 came a host of changes, from new restaurant rules to a drastically different approach to school to more Zoom meetings than we can count. As the economy showed signs of stress, many were left wondering what exactly would happen to the Treasure Valley real estate market, which had been extremely competitive in the months prior.
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And, although Covid has certainly had an impact on our lives, the short answer is that the market is strong, the valley is growing, and the inventory is low. “When we entered the pandemic, we were already in a status of really low inventory. Our market’s been pretty hot and active for the last
four consistent years. Just to give you an idea, in February, the active listings in the Ada county area were just over 300 homes on the market. If you backtrack 12 months ago, we had over 900 homes on the market,” says 208 Market’s April Florczyk. “Entering into Covid, we had about a 45 day period where our phones slowed down while everybody took a break, wondering what was going to unfold from this pandemic. But if anything, people are now realizing how important it is to live in a home and have space,” she says. Florczyk adds that her clients consist of a lot of local folks buying bigger homes and people from out of state who want the Idaho quality of life. She calls it a perfect storm, and it’s easy to see why.
As Idahoans know, the Treasure Valley is a pretty great place, and visitors are quick to notice. Demetre Booker Jr., of ELEVATe Commercial, first visited in 2001 when he took a recruiting trip to Boise State University and liked the area. “Fast forward to 2018 and I was looking at areas to buy property and ending up finding a mobile home park in Nampa,” he says. Booker spent time exploring Boise and fell in love with both the quality of life and the price per square foot. He explains that Boise’s proximity to major cities, accessible airport, nice people, great weather, and lack of saturation make it an excellent place to invest. Clark Krause, Executive Director at Boise Valley Economic
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