Third Quarter 2012 Report
Charts display average sales prices of new vs existing homes by quarter from 2005 to 3rd quarter 2012.
Ada County Home Values Summary Report-
This chart clearly indicates that new construction is in demand. This may be influenced by the lack of inventory of existing homes and the quality of what is available for sale. Many home buyers have also gotten frustrated with the hype of finding a 'deal' whether it be a short sale or foreclosure which is why they decide to get what they want by buying a new home. With the overall lack of quality homes for sale in existing home, new homes for sale and builders have done well. 2013 should continue to see home values increase and new construction will mor than likely thrive with the arrival of so many from out of state.
Boise Idaho Home Value Trends
North Boise Home Values
North Boise Home Values are quite the example of peaks and valleys, expecially new homes. This chart does not well define how prices of existing home values have dropped but if you look closely you can see that from the peak of the markt to the low it varied some $100k. New construction has been even more dramatic but North Boise is a popular place for custom homes which influences the average home values.
Northeast Boise Idaho Home Value Trends
Northeast Boise home values again are erratic. Look and the left values and notice that there is $225k between each line.
Southeast Boise, ID Home Value Trends
Southeast Boise home values between new and existing home sales prices stayed verymuch parallel with each other.
Boise Bench Area Home Values
This area also was consistent in how new and existing home sales prices were in consistent, excluding times when no new homes were sold.
Southwest Boise Idaho Home Values
Notice how existing home values are now running equal to new home values? This may indicate that there is a lower demand for homes and new construction is lowering prices to attract buyers?
Southwest Boise (Meridian Area) Home Values
Existing home values in Southwest Boise have been rising for a year.
Northwest Boise Home Values-
Northwest Boise, which includes Hidden Springs saw a dramatic increase in home values durring the peak of the Boise Real Estate Market and then the bubble burst. The lines tell the rest of the story. Now places like Avimor are coming back for new home buyers.
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