Star ID Market Trends for July 2019

Posted by Jeffery Sweet on Tuesday, July 30th, 2019 at 3:25pm

Homes For Sale In Star IDBoasting safe and welcoming communities, Star is ranked as one of the best places to raise a family in the region of Canyon County in Idaho. It is a rapidly developing city west of Boise that offers magnificent views of the Snake River Plain.

This article explains why Star is one of the top up-and-coming places to find your new home.

 Star ID Real Estate Market Trends for July 2019

Star ID homes for sale has experienced a 10.4% increase in value, which is predicted to rise up to 7% next year. Because of this, real estate in the city has become a competitive market where there are plenty of properties you can choose from.

There are now 210 properties listed on the market with prices ranging from $79,900 to $4,000,000. The starting price for a house with 2 or more bedrooms is $189,900. This is a pretty good deal compared to those of other cities.

In addition, there is only a 1% increase in a week-over-week average listing price on the market.

Star ID Distressed Property Report

Prices of distressed properties in Star are fluctuating every year. As of April 2018, the number of foreclosure properties is zero, including those that are on auction or bank-owned. The homes listed for sale are 68.

During the same month, the number of pre-foreclosure homes is 4, though the number of home buyers is expected to flock the market when this number rises. Because of the short sale, the original market value will be lesser than the outstanding loan balance for the buyers. As this keeps up, real estate in the city becomes a  good investment to make as the year progresses.

However, as the city is booming, there are homes expected to be on auction in the coming years.

Star ID  Demographics and Crime Statistics

Star ID has a very low crime rate compared to other cities in the US. It has a total of 3 arrests from the start of 2018 up until July. Its theft and burglary only record 8 and 4, respectively, with 5 assaults. The violent crime rate of Star is really low and is even close to nothing. The neighborhood is all friendly and welcoming.

Star ID has a population of 7,832 and has a 1,199 population density, with 80% of the population being married and 83% owning and belonging to a household. It has an average median age of 32.1, while the average US median age is 37.4.

Median Price Point and Cost of Living

The median home value for sale in Star is $339,400. Its median list price per square foot is $179. The median home value is also predicted to rise in the following year, as data does not show any sign of the prices going down.

However, because of the increase in job employment, investing in real estate in the city is a great deal. Since the median rent data is also increasing from May to July 2019, business opportunities arise, especially in the property leasing sector.

More About Star ID Real Estate

Star is considered to be one of the best places to live in Idaho, even claiming the number 3 spot in the “best suburbs to raise a family” survey by Niche.com. Aside from being peaceful, this wonderful city has so many great features to offer. Here are 3 reasons why families and home buyers should consider Star’s real estate market:

  1. Ideal location - Star is a place with many attractions, which include great hiking trails; lakes and rivers, which are popular for fishing, rafting, and other water sports; and hills with slopes that are ideal for skiing.
  2. Easy access to places and convenience stores - Since Star is a small town, going to places is just quick. You can arrive at your destination easily without encountering too much traffic.
  3. Safety - Star has a very low violent crime index of 31.05. It has an overall score of 33.65 which is 66.35% lower than the national average.
  4. Employment - According to BestPlace, the city has a 2.4% unemployment rate, which is lower than the national average, 3.9%. Job growth in the city is positive and has increased by 3.55%.

If you are planning to invest in properties in the city, the best time to buy would be this year. With the increasing number of projects and tourist attractions, the values of homes for sale will also rise.

Finding a Star ID Real Estate agent would make your investment process easy. If you need assistance in finding the right property, you can contact Sweet Group Realty agents to help you with your needs.

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