Western Land Prices

[SURVEYOR]

I’m curious if you guys are seeing land prices super inflated in the more remote parts of the western states. I live in one of the least populated counties in the TX Hill Country approx. 5k residents and our property values are about to double since the rona hit. I own a Land Surveying firm and we’re currently booked until July. It’s always the same story, people are leaving the cities and heading to the hills.

 

[137buck]

Prices here are skyrocketing, they're having bidding wars on land and houses lately and selling for way more than they're worth.

 

[Lee_R]

Same here.

 

[MTHunter1321]

It’s crazy here in MT

 

[Billinsd]

Median house prices in San Diego at $766k, 14% increase in a year. My humble house went up $60k last month and will be at a cool million in about another year or so the way things are going, but a million ain't what it used to be, LOL!! Best part, is it's almost paid off!! Lots of demand and small supply. Prices aren't skyrocketing or crazy high like you other guys are experiencing, though!

 

[hunterjmj]

Our house has doubled since 2017. Not sure how people afford a house but they sell as soon as they go up on the market.

 

[downthepipe]

In Boise most homes have doubled in price since 2015. The average 4 bedroom house seems to be about $600,000. I am very happy with my equity, not so happy with my taxes, and wonder if, when my kids hit the “move out” stage, how they will ever do that, even renting.

 

[4rcgoat]

Same here,people buying land and houses "site un seen". With lumber up the way it is its going to be scary when this bubble pops.

 

[MTN Humper]

North Idaho is the same story. It is amazing what any property or homes are selling for.

 

[EastMT]

I left AK a year ago, bought a brand new house in Texas. After a year we decided this isn’t the place for us. Sold our house for 10% over asking price after reviewing 10 offers in 2 days. So after fees etc, we will clear almost 20%, that’s crazy for 1 year on a new home, usually lucky to break even. Headed back to the NW where we belong, would have left if I had to sell for a loss lol.

 

[FLAK]

It's crazy here on the Gulf too.

 

[wymtnpounder]

NW WY is insane right now

 

[Silveroddo]

I read an article that Coeur D'alene had the highest rate of increase in housing in the country right now. I was bored and messing around on Zillow and looking around Montana at prices and decided I'm probably not moving there any time in the near future, lol.

 

[go_deep]

This is like Deja Vu. Coming off 9/11 interest rates were near zero, stimulus checks, commodity price went up hard, houses sold site unseen and for more than listed for, vacant land skyrocket, then all those crazy purchases on huge loans had to pay the piper. '07-'12 i got some awesome deals of foreclosed houses.
Just can't imagine we don't end up there again.

 

[JRMiller]

This is like Deja Vu. Coming off 9/11 interest rates were near zero, stimulus checks, commodity price went up hard, houses sold site unseen and for more than listed for, vacant land skyrocket, then all those crazy purchases on huge loans had to pay the piper. '07-'12 i got some awesome deals of foreclosed houses.
Just can't imagine we don't end up there again.

Yep, thats exactly where were headed

 

[Like2hunt]

Prices are crazy high here in central utah. Houses and land are only up for sale for a couple hours before they're under contract

 

[missjordan]

I’m in Missoula, MT. We purchased our home in 2016 for about 230k. We’ve done some light remodeling and bet we could sell it for inbetween 460-495 today. There’s no way in hell I’d pay that for our home today but someone probably would

I remember during the housing crisis when homes down the bitterroot valley in Corvallis, victor, stevi, Darby, etc. you couldn’t give them away and there was a lot of foreclosures. Now it’s the place to be since the Yellowstone TV show has brought in a lot of commotion

A friend who bartends in Stevi said she has a couple clients who moved here from California were in and complaining about how there’s no Uber and you can’t get a good sit down meal around here past 8pm. Her response was “well welcome to small town Montana” bet they will be gone in a couple years. I Hope next winter is a doozy


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[zion zig zag]

I bought a 2.5 acre lot a few years ago for about 50k with the intent to build, but ended up buying a house on a larger lot at the end of 2019. We decided to sell the lot for a very small profit last fall, decided the market would probably cool off over the winter. Wrong. Since my name still showed as owner on the county plat, I got an offer the other day. $205k. Damnit!

I guess I can't be too upset though, the house we bought doubled in value, although that doesn't really matter if you aren't selling.

 

[280Ackley]

Just talked to a realtor Thursday about our house. Bought 3-1/2 years ago for $200K she recommended a minimum of $375k for list price.

 

[cpalm9]

Almost bought a plot in Victor, ID but backed out for something else. It’s now worth 3X in only 6 months...