Real estate is typically considered to be different from other investments of its caliber. Though investing in a vehicle or stocks can be just as monetarily significant, real estate has an entirely different feel.
Homes typically carry a much stronger emotional importance for their owners than other possessions, whether you live in your real estate investment full-time or visit it seasonally with family and friends.
Your home could be where you make the most precious memories, and perhaps you plan to transfer its ownership to future generations so that your family can enjoy it for years to come.
Though real estate is on another level in terms of investment significance, it’s still affected by many of the same principles of commerce that other material goods are. One of these principles is the rule of supply and demand.
The Rule of Supply and Demand in McCall Real Estate
Most people are familiar with the rule of supply and demand, which basically states that prices for goods will fall when the supply of that good is higher than its demand, and prices will rise if demand is higher than supply. This is due to the fact that an item’s rareness or difficulty in being obtained intrinsically increases its value.
The rule of supply and demand and its effects have been seen in full swing throughout Valley County real estate over the past several years. Tamarack Resort real estate and multiple other distinctive neighborhoods throughout the greater McCall area have seen exponential property sales growth in the past two years alone!
Valley County proudly offers its residents quiet, spread-out residential areas nestled in the great outdoors of the Idaho countryside.
Since Tamarack Resort and other nearby neighborhoods prioritize the quality of life for residents over the building of as many properties as possible, it’s natural that the supply of new homes in the neighborhood will begin to diminish as the demand for a property in this desirable region increases.
How Has Tamarack Resort Real Estate Grown Since 2020?
Many Valley County real estate areas have increased their properties sold between the fiscal years of June 2020 to June 2021 and June 2021 to June 2022. Tamarack Resort real estate, in particular, sold 45 total properties from 2021 to 2022 compared to its 35 property sales between 2020 and 2021.
The number of property sales reported in Tamarack Resort isn’t the only figure that’s changed in the past year. Between 2020 and 2021, homes in Tamarack Resort were on the market for an average of 183 days. Conversely, most homes in the area were sold within an average of 136 days between 2021 and 2022.
With this data in mind, it’s clear to see that not only did more homes sell in Tamarack Resort in the past year than the previous, but the homes also sold faster than before. Home prices have also risen in direct relation to the increase in demand (and therefore, have increased in property value).
What Creates High Demand in Tamarack Resort Real Estate?
Now it’s time to ask the question on everyone’s mind: what exactly is causing this significant increase in demand within Tamarack Resort real estate? Let’s take a look at a few of the specifics of Tamarack Resort and the greater McCall area that might be contributing to its popularity among real estate investors.
Desirable Vacation Destination
Anyone who has visited Tamarack Resort knows just how perfect it is for a vacation at any time of year. Not only is the neighborhood surrounded on all sides by scenic nature, but it also provides visitors and residents alike with valuable peace and quiet and a distinct sense of removal from any busy city centers.
Though Tamarack Resort is a popular destination for vacationers and seasonal visitors, its small community of year-round residents is incredibly close-knit and supportive of one another. Tamarack Resort residents tend to share many important traits, including a love of the outdoors, a welcoming demeanor, and a passion for living life to the fullest.
Open Lots and Properties of All Sizes
Are you interested in building your perfect Tamarack Resort home from the ground up to suit your exact specifications? You can make your choice between a wide variety of open lots currently available in the neighborhood.
Additionally, the already-built homes at Tamarack Resort also offer a wide range of choices when it comes to size, home type, and amenities.
Easy Access to Many Kinds of Idaho Activities
No matter what time of year it may be, there’s plenty to do in and around Tamarack Resort. Take advantage of some of the best Idaho skiing in the winter, incredible outdoor Idaho sports during the spring and summer, and plenty of hiking and sightseeing opportunities throughout the year.
Has COVID-19 Played a Role in McCall Real Estate Supply and Demand?
COVID-19 has affected global real estate markets in several measurable ways, not to mention how it has changed our lifestyles, habits, and activities. How has the pandemic affected sales in Tamarack Resort real estate in particular?
More Freedom of Location
During the pandemic, many workplaces had to temporarily shift to a work-from-home model in order to stay in business.
A large number of companies kept this model even as stay-at-home orders started to lift, allowing their employees much more freedom regarding where they could live. If you could perform your job anywhere, wouldn’t you consider investing in that lovely home in the Idaho countryside?
Shifts in Priorities
While COVID-19 shifted the way many people do their job and conduct their life, it also shifted our priorities in a major way.
After spending much more time at home with loved ones, many have reevaluated their priorities and made changes in their life in order to spend more time with family and friends.
This has encouraged many people to take the leap and invest in a great vacation home they can enjoy with their loved ones. What’s better than a cozy abode that offers gorgeous natural scenery and plenty of activities year-round?