Idaho is home to some of the most beautiful landscapes in America. The climate is perfect for growing a variety of crops, and its residents have access to thousands of acres of public lands where they can hike, hunt, camp, ski, or mountain bike. So it’s no wonder so many people choose to call this state their new home!
However, there’s another side to the Gem State that you may not be aware of. The real estate market here has been booming over the past few years. In fact, it has one of the highest rates of appreciation among all states nationwide!
Of course, the real estate market in Idaho is completely different from, say, Los Angeles, Palm Beach, and New York City. But we’re not talking about California, Florida, or New York.
Find out more about what makes Idaho such a desirable place below as we take a look at the real estate market and the 15 most expensive homes sales in Idaho.
Overview of the Idaho Real Estate Market
The current Idaho real estate market is doing quite well. Home prices have been appreciating at a fast rate, and there is a lot of demand for single-family houses. This has caused some bidding wars and has led to some properties selling for significantly more than their asking prices.
- From November 2020-November 2021, Idaho home values have gone up 35.4%!
- The typical home value of properties in Idaho is $447,197.
- As of December of 2021, the median sale price for all home types was $470,000.
- As of December of 2021,homes sold above list price 22.9% of the time, making the market very competitive.
The most expensive homes for sale in Idaho are located in the most desirable areas of the state. Some of these areas around the Boise metropolitan area include the Highlands, Harris Ranch, Warm Springs Mesa, and to the east of Boise Ketchum and Sun Valley to name a few. The average home value in these areas is significantly higher than the statewide average, and the demand for homes is high.
If you’re looking for a prime piece of Idaho real estate, then Sun Valley and Ketchum might be the areas for you! The average home value in these areas is currently $995k, respectively. And homes sold above list price most of the time!
The top ten most competitive cities for real estate include:
- Rathdrum, ID
- Pinehurst, ID
- Dalton Gardens, ID
- Hauser, ID
- Osburn, ID
- Post Falls, ID
- Wendell, ID
- Fruitland, ID
- Parma, ID
- Dover, ID
Given the current state of the real estate market in Idaho, now is an excellent time to purchase and sell real estate. Additionally, with recent home values reaching historic highs, now is a good time to take advantage of the market and sell your home for a profit.
However, if you’re thinking of selling your home in Idaho, it’s important to do your research and find out what the average home prices are in the areas that you’re interested in. You also need to be prepared to sell your home quickly, as there is a lot of competition in the market.
> If you’d like to sell your house fast, check out these creative ways to sell a house in Idaho.
Prime Real Estate Prices in Idaho
Idaho is seeing a significant increase in home values as well as buyer demand. Still, some speculate a housing bubble and it being the most overvalued housing market, according to Fortune. This means that cities like Boise might be approaching their “pricing crown,” or peak prices, and will soon begin to stabilize.
Currently, the prime real estate price in Boise, ID, is sitting at $490,000, with the price per square foot coming in at $288.
Other Idaho markets with prime real estate prices include:
- Emmett, ID
- Middleton, ID
- Eagle, ID
- Post Falls, ID
- Meridian, ID
- Hayden, ID
- Mountain Home, ID
- Star, ID
- Coeur d’Alene, ID
- Rathdrum, ID
All the metros listed above have experienced the fastest-growing sale prices in the state.
Next up will list the most expensive homes for sale in Idaho’s luxury real estate market.
The Most Expensive Home Sale in ID
We will now take a look at the 15 most expensive homes for sale in Idaho. These homes are located in some of the prime areas of the state and have an asking price of $500,000 or more.
Keep in mind that these prices are subject to change at any time.
54 Adams Gulch Rd, Blaine County, ID 83340 | List Price: $19,500,000
This gorgeous 13,359 square-foot mansion features 6 bedrooms/ 7 baths, 2 powders, incredible chef’s kitchen, indoor swimming pool/hot tub, sauna, steam room, tennis court, and 5 car garage. It is located on a nearly five-acre lot on the river and was built in 2010. The asking price is $19,500,000/ $1,460 price per sqft, making this the priciest home in Idaho.
126 Old Mill Rd, Blaine County, ID 83340 | List Price: $19,500,000
Situated on almost 12 acres of groomed open land, this majestic estate is the epitome of gracious Sun Valley living. Featuring 4-bedrooms, 7-bathrooms, and 15,102 sq ft of living, this home offers the elegance and grandeur of a classic lodge aesthetic. Built in 1997, this property has plenty of space. The asking price is $19,500,00/ $1,291 price per sqft.
13439 State Highway 75, Sawtooth City, ID 83340 | List Price: $15,995,000
History & luxury blend seamlessly in this three-structure Sun Valley Legacy Mountain Estate. The main residence is a modern craftsman built-in 1995, that’s perched in the tops of surrounding aspens and offers 8-bedrooms, 10-bathrooms, and 9,434-sq ft. The almost 12-acre parcel also features a fully renovated North Fork Store and a new Party Barn with a pond to provide endless entertainment options. The asking price is $15,995,000/$1,695 price per sqft.
7806 W Mill Hollow Ln, Coeur D Alene, ID 83814 | List Price: $13,950,000
Built in 2001, this estate features two lake lots (home and vacant lot) totaling almost 3.5 acres. The main home offers 6,022 sq ft of living space with 5-bedrooms, and 5-Bathrooms, and a wine cellar. You will also find beautiful attached guest quarters with 1-bedroom, 1-bathroom, and 1712 sq ft. The landscaping is impeccable, with a great lawn to water access and a sandy beach. The asking price is $13,950,000/ $1,804 price per sqft
354 Lamb Rd, Kamiah, ID 83536 | List Price: $13,495,000
If you’re looking for space, look no further; this +/-2800 acre ranch boasts a little bit of everything. You’ll find creeks and north-facing canyon walls that are heavily timbered. This mixed-use farm offers a main house with 7500 sq ft, a lodge with 6 hotel-styled rooms, a full commercial kitchen, a bar, indoor seating for 50, a covered patio with outdoor seating for 50 more, shops, 3 log cabins, maintenance building with walk-in cooler & covered parking. Greenhouse, hay barn, and off-grid capabilities. The asking price is $13,495,000.
90 Kullyspell Dr, Hope, ID 83836 | List Price: $13,000,000
Kullyspell Point, located on 7.4 acres, was the original home location of historical figure David Thompson who first discovered Idaho and opened the first fur trading business with the Kalispel Tribes on this property. The main property consists of the 13,036 sq ft home with the massive underground environmentally controlled passage to the 2,773 sq ft Gate House. No expense was spared on the home security systems or power production systems. Price tag: $13,000,000/ $997 price per sqft.
9 Busterback Ln, Stanley, ID 83278| List Price: $11,995,000
Built in 1940, this historic horse ranch sits on 80-acres of private magnificent property. Located in the Stanley Basin, just 40 minutes from world-famous Sun Valley, the ranch includes a stunning, 5,700 square foot main house, three Ralph Lauren-inspired guest cabins, a three-bedroom manager’s house, a barn, and more. This estate is priced at $11,995,000/ $1,025 price per sqft.
552 Loch Haven Rd, Sagle, ID 83860 | List Price: $9,900,000
Surrounded on three sides by National Forest and with 1,400-ft of pristine Lake Pend Oreille frontage, this unique estate lives up to its name Lake Heaven. Built in 2015, the home is located on 106.07-acres of land and features 6,617 sq ft of living space with 3-bedrooms and 5-bathrooms and inspirational views from every room. The list price is $9,900,000/$1,496 price per sqft.
2124 E Kettle Ridge Rd, Harrison, ID 83833 | List Price: $9,000,000
This estate is a contemporary custom-built home located off Kettle Ridge at Gozzer Ranch with views of the second fairway. The home offers 4-bedrooms and 4.5- baths, an outdoor underground pool, outdoor spa, beautiful master suite, and a golf cart garage. Estimated to be complete in May 2022, the asking price is $9,000,000/ $1,636 price per sqft.
11882 State Highway 75 Hwy, Hailey, ID 83333| List Price: $8,900,000
Enjoy a rural mountain lifestyle in a world-famous home on the banks of the Big Wood River. Located on one of the best dry fly stretches of the river, this sanctuary is ideal for fly fishers, nature enthusiasts, or horse people. This 18.65-acre estate is home to elk, moose, and an abundance of birds. The home features 7 suites, an art studio, 2 offices & an accessory dwelling unit (ADU). Built in 1997, the house is listed for $8,900,000/$547 price per sqft.
1843 E Branding Iron Ct, Harrison, ID 83833 | List Price: $8,499,999
Immaculate 6,015 square foot custom-built home with great views! The floor plan includes 4-bedrooms with 4.5-bathrooms, 2-laundry rooms, and a 4-car garage, including 1 golf cart garage. The property also includes a guest house that features 2 beds, 2 baths, and 2 kitchenettes, along with a covered gazebo with a built-in BBQ and seating. This spectacular home is furnished and ready for you to move in! Built in 2018 the home is listed for $8,499,999/ $1,413 price per sqft.
130 Golden Eagle Dr. S, Blaine County, ID 83333 | List Price: $8,495,000
This expansive home has it all with 11,244 square feet of living space and sits on 2.77 acres. The property is great for entertaining with a gourmet kitchen and new appliances. You’ll also find exquisite finishes, and no detail left out. The basement is completely finished with room for additional bedrooms. Built in 2001, the home is listed for $8,495,000/ $756 price per sqft.
2131 E Kettle Ridge Rd, Harrison, ID 83833 | List Price: $7,980,000
This exquisite, new contemporary 6,420 square foot home located on a cul-de-sac has an open concept living/dining/kitchen and walls of glass leading to a huge outside lounge area. You’ll also find views between the 4th and 5th holes, and it is only a short golf cart ride to the Clubhouse and Red Barn. The home was built in 2021 with 0.70 Acres and is listed for $7,980,000/ $1,243 per sqft.
2420 E Warm Springs Ave, Boise, ID 83712 | List Price: $7,750,000
Perched above Idaho’s high-desert, urban capital, this secluded retreat offers 5-bedrooms, 5-bathrooms, and 6,129 sq ft of livable space. Built in 1996, a 60-acre private preserve surrounds this unique visionary retreat. Boise’s central core is just moments away from this exquisite sanctuary. Listed for $7,750,000.
10 River Sage Ct, Blaine County, ID 83333 | List Price: $7,500,000
This single-family home features a contemporary style with over 600 feet of Bigwood River Frontage. You’ll find a gorgeous entry with glass staircases that lead you to a great room with 20-foot ceilings, a luxurious bar for entertaining, & a wall of windows that open to the huge patio overlooking the river. The home also includes a car lift enclosed in glass, gym, office, two kitchens, and a flagstone patio. Built in 2009, this home has two acres and is listed for $7,500,000/ $882 price per sqft.
The current Idaho real estate market is doing quite well. Home prices have been appreciating at a fast rate, and there is a lot of demand for homes, which can mean several things. First, if you’re hoping to buy a house, you’ll want to be prepared to make an offer quickly and possibly get into a bidding war.
If you’re hoping to sell a house, now would be a great time to consider selling. But to take advantage of the increased home values, you’ll want to make sure your home is in saleable condition. This can be challenging if your home is in poor condition, has a foundation issue, needs major repairs, has code violations, has a tax lien, or is a probate property.
Gem State Cash Offer is a “We buy houses Boise” business that is family-owned and buys houses in as-is condition, with any issues or challenges. So if you’d like to sell your house fast, contact one of the cash home buyers in Nampa who can make you a cash offer for your home and close within 7-days.