Those of us who have lived in Eagle for a few years -- say fifteen to 20 years or more — can confirm that the Eagle real estate market has been hot, very hot, for a long time. Even as long ago as 2005, nearly 900 homes changed hands in a year’s time.
However, despite the consistently high volume of sales, one dynamic is fairly new — the million dollar sale. As recently as 2015, fewer than 10 homes (in nearly 1,000 sold that year) surpassed the million dollar mark.
In 2016 through 2019, million dollar sales increased steadily, but still only represented less than 5% of total Eagle sales. Then in 2020, million dollar sales more than double and ended up representing an astounding 11% of total sales. That was also the year that 11 $2 million hit the Eagle market.
We have not looked back since. Million dollar sales now represents approximately 1/3 of the total Eagle market and $2 million sales have climbed to 6% of total sales.
In summary, nearly 1,400 Eagle home sales have been over $1 million and 82% of those sales have come since 2020.
What does the future hold for Eagle? Clearly we can’t know for sure, but it seems safe to assume the million dollar market will continue to grow. As of this writing, February 13th, 2024, 15 of 49 of Eagle’s 2024 sales are over $1 million.
Eagle, Idaho home sales by year showing both $1 million and $2 million percentage of home sales going back to 2005:
So what does a million dollar home look like? Stay tuned. In a coming blog, we will break down the specs and characteristics of the homes that have sold for over a million dollars in the past 12 months.
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