Boise Home Values Report

 

How have home values changed over the last 12 years?

Charts compare average sold price of new and existing home sales across the Treasure Valley by quarter-

Ada County (Boise, Eagle, Kuna, Meridian, Star)

Boise Area Home Values (Ada County, ID)

Canyon County (Caldwell, Middleton, Nampa)

Nampa Area Home Values (Canyon County, ID)


 

Local inventory levels remain at record low levels

Meridian Real Estate Market Home Inventory

 

Nampa Real Estate Market Median Home Value

At the begining of 2018, there is approximately 1 month of inventory of houses for sale. A more normal market should have 6 months of inventory.

Boise remains a seller's market! Many homes are selling in about 30 days.


Why are home vaues rising?

Demand remains strong for homes  two reasons:

Boise, Idaho  sees a lot of In-Migration with continued interest from California plus Portland, Seattle and Salt Lake City. Most cite affordability, safety and atmosphere of the area and the people that live here is what attracts them to Idaho.
The national economy is strong and Boise is also doing well. While local demand for homes is driving sales; price increases are also driven by people's ability to buy and willingness to pay top dollar for properties.

 

Is Boise forming a real estate bubble?

NO! This market has several key factors that differentiate it from that of 2005. First, in the recent market trend lines. Prices are increasing and housing inventory remain at very low levels as opposed to synchronised upward trends before the bubble burst. Also, mortgage guidelines are much more stringent, forcing buyers to be more realistic about their purchase.

Idaho Real Estate Bubble

 

Idaho Real Estate Wealth 2018Source: Keller Williams Realty Boise
Building wealth in real esate takes time

This chart displays the average sold price of EXISTING homes by year. As you can see, for those that were smart enough to buy in 2011, the bottom of the market, their homes may have appreciated $118k. This is a great illustration that if you are buying real estate as an investment or looking to create wealth through real estate, it takes time.

 


 

Boise Area New Construction Market Summary

Build Idaho : Summary of 2017 Top Builders in Ada County

Build Idaho : Summary of 2017 Top Builders in Canyon County

 

Review Building Permit History over the last 12 years. You can see how the market was out of control compared to today. Note: Building Permits do not represent actual homes built.

Idaho Building Permit History since January 2005

Check out how new construction has grown year over year in the Treasure Valley

Ada County

Build Idaho Building Pernit History Comparison, Year over Year

Canyon County

Nampa Idaho Buildng Permit Comparison 2017, Year over Year


 

Here is what you need to know:

Buyers:

  • Selection remains low, therefore choices are limited. That being said, there is a constant stream of new properties added to the MLS all the time.
  • When you find the right home, be prepared to pull the trigger! Or be prepared for it to become someone else's home
  • Many homes sell for full price, so tactful negotiating is key to winning your home. Providing the seller a strong reason to consider your offer from price to proof of being able to purchase provides the seller confidence in your offer.

Buyer Services

Sellers:

  • While the market favors sellers, it is not a runaway market with accelerating appreciation
  • Pricing a home right the first time is a proven strategy to get the most money. When it is over priced, buyers are saavy and recognize it, especially it they are working with an agent that is paying attention and working on their client's best interest. When a home starts to have too many days on the market, it will get socially stigmatised and a offered lesser price. This is a proven fact.
  • Make your home show-ready on day 1 and take every offer seriously.

Get Your Home Sold

  Detailed Home Values Analysis by Area

*The following chart ranks areas by median price

  Median Home Price New Homes Existing Homes
Caldwell- South $164,900 $220,111 $158,000
Caldwell- North $167,000 $183,424 $160,790
Garden City $175,000 $180,950 $175,000
Nampa- North $185,000 $272,399 $177,000
Nampa- South $193,834 $242,908 $179,900
Boise Bench $200,000 $246,900 $199,500
Boise- West $207,000 $250,000 $204,000
Kuna $214,000 $257,763 $195,000
Middleton $232,500 $258,108 $205,075
Boise- Southwest $239,950 $230,349 $240,000
Meridian- North $263,000 $339,200 $241,450
Boise- Southeast $272,500 $368,492 $265,000
Boise- Northwest $290,000 $386,986 $260,000
Star $303,250 $350,950 $275,000
Meridian- South $351,220 $371,263 $280,000
Boise- North $364,500 $567,000 $360,000
Eagle $420,000 $424,375 $415,000
Boise- Northeast $436,837 $448,700 $425,000
*source Intermountain MLS

 

  Breakout Analysis by Area

 

North Boise

2018 North Boise Idaho Home Values

Live in downtown Boise including the area to the north into the Foothills and and to the east following Hill Rd. Enjoy all the amenities of Boise plus the great shops and restaurants scattered throughout. This area includes several condominiums and many historic homes.

  New Homes  
$567,000
  Existing Homes  
$360,000


 

Northeast Boise

2018 Northeast Boise Idaho Home Values

If you want to live off Warm Springs Rd and enjoy the direct Foothills access, as well as, the Boise River and some fun local shopping and eateries, check out NE Boise. This is an active community, as there is also golf and only minutes to downtown.

  New Homes  
$448,700
  Existing Homes  
$425,000


 

Southeast Boise

2018 Southeast Boise Idaho Home Values

Just a little ways from downtown is open spaces along Federal Way and Hwy 21 with great views and still a short commute to downtown. Highway 21 offers access to Lucky Peak and the mountains surrounding Idaho City.

  New Homes  
$368,492
  Existing Homes  
$265,000


 

Boise Bench

2018 Boise Bench Home Values

"The Bench" area is located south of downtown Boise running along the bench which an elevation about 70 ft above the valley floor.

  New Homes  
$246,900
  Existing Homes  
$199,500


 

Southwest Boise

2018 Southwest Boise Idaho Home Values

This area has had considerable growth though there are limited services and shopping in this part of town. While homes for sale are limited, living south of the freeway is becoming more popular.

  New Homes  
$230,349
  Existing Homes  
$240,000


 

West Boise

2018 West Boise Idaho Home Values

South of the Bench area is plenty of shopping from the stores between Franklin Rd and Fairview, including the Boise Townsquare Mall along Milwaukee.

  New Homes  
$250,000
  Existing Homes  
$204,000


 

Northwest Boise

2018 Northwest Boise Idaho Home Values

Homes located along State Street and Hwy 55 enjoy the Boise River and Foothills as nearby amenities. So if you enjoy the outdoors, this area offers a great lifestyle for you! Enjoy a leisurely drive along Hill Rd or get out of your car and take advantage of great hiking trails including Hyde Park.

  New Homes  
$386,986
  Existing Homes  
$260,000


 

Garden City

2018 Garden City Idaho Home Values

Following Chinden Blvd west between the Bench and Boise River is Garden City. Everyone will enjoy Whitewater Park and the Greenbelt.

  New Homes  
$180,950
  Existing Homes  
$175,000


 

Eagle, ID

2018 Eagle Idaho Home Values

The average price of a home in Eagle is far above much of the area due to it's location and the caliber of homes and communities located here. Many communities have magnificent entrances with a water feature and many homes are on small lakes. Eagle also offers great restaurants and shopping.

  New Homes  
$424,375
  Existing Homes  
$415,000


 

Star, Idaho

2018 Star Idaho Home Values

Move to the country! Enjoy a slower pace even and the peace and quiet of of a one stop-light town and only 12 minutes to big city shopping.

  New Homes  
$350,950
  Existing Homes  
$275,000


 

South Meridian

2018 South Meridian Idaho Home Values

Many prefer living south of the freeway as there is a not quite the congestion. Here you can also find more quiet as well.

  New Homes  
$371,263
  Existing Homes  
$280,000


 

North Meridian

2018 North Meridian Idaho Home Values

Meridian is one of the fastest growing cities surrounding Boise. It is centrally located to the entire Treasure Valley and offers great communities as well as shopping and restaurants.

  New Homes  
$339,200
  Existing Homes  
$241,450


 

Kuna, Idaho

2018 Kuna Idaho Home Values

Kuna is widely known as the gateway to the Birds of Prey Sanctuary. This area is also close to Swan Falls and Snake River and while it is relatively close to Boise, it is much less expensive to live here . Enjoy open space and quiet, and only 12 minutes from the freeway.

  New Homes  
$257,763
  Existing Homes  
$195,000


 

North Nampa

2018 North Nampa Idaho Home Values

The area around the Idaho Center and Garrity Blvd has seen an major increase in homes and business. Centrally located to the valley and easy access to I84 makes this an easy choice for many.

  New Homes  
$272,399
  Existing Homes  
$177,000


 

South Nampa

2018 South Nampa Idaho Home Values

Nampa Idaho is a peaceful place with lots of open space including the popular Lake Lowell. Growth of this area has spurred many new stores and restaurants.

  New Homes  
$242,908
  Existing Homes  
$179,900


 

Lake Lowell

2018 Lake Lowell Idaho Home Values

Located south and west of Nampa is a diverse area around the shores of Lake Lowell. Rolling hills provide great vista views of the Boise Foothills and the Owyhee mountains.

  New Homes  
$303,687
  Existing Homes  
$211,500


 

Middleton, Idaho

2018 Middleton Idaho Home Values

Middleton is a place where everyone knows their neighbors first name and the entire town comes to support the high school football team. This is a small, more agricultural based, town that is friendly and growing.

  New Homes  
$258,109
  Existing Homes  
$205,075


 

South Caldwell

2018 South Caldwell Idaho Home Values

Caldwell offers open space and more or a rural setting beyond downtown. Agriculture plays an important part of the economy and culture.

  New Homes  
$220,111
  Existing Homes  
$158,000


 

North Caldwell

2018 North Caldwell Idaho Home Values

Convenient location close to the interstate and shopping.

  New Homes  
$183,424
  Existing Homes  
$160,790

Source: Intermountain MLS

Idaho CIty Homes for Sale

Median Existing Home Values
$205,500

Median New Home Price
$450,000

Idaho City, ID
Drive north on Hwy 21, above Lucky Peak Resevoir, and you will find the mountains and many trails for your horses, ATV's, skis, snowmobiles and every other toy. Make this your resort town getaway. Search Idaho City Homes for Sale


Emmett Idaho Homes for Sale

Median Existing Home Values
$150,050

Median New Home Price
$149,900

Emmett, ID
Drive north on Freezeout Hill Rd and you enter an area known for orchards and beautiful vista views. This is Emmett, a small town in a big valley. Search Emmett Idaho Homes for Sale


2018 New Home Guide

 


Get started with Boise's
Ultimate Real Estate Team

Contact us

Schedule a home tour

 

Michelle Penick, Client Car Team
Michelle Penick  Realtor
Idaho Fanatic, California Transplant

818.472.1767  Email

 

Hilary Wilson, Idaho Real Estate Client Car Team
Hilary Wilson  Realtor
Idaho Native, Results Driven

208.921.0147  Email

 

Laura Hipwell, Eagle Idaho Realtor
Laura Harris  Realtor
  Email  

 

Trey Langford- Idaho Builder & Developer Services
Trey Langford  Realtor
New Construction Consulting

Email  208.724.9636

 


Home Loan Information

 

Terry Heffner - The Heffner Group of Guild Mortgage Eagle Idaho
The Heffner Group
Terry Heffner NMLS#95796
Guild Mortgage is an Equal Housing Lender, NMLS#3274

Do you qualify for a home loan? How much can you afford?

   Email  | 208.901.3822 | Apply

This is a paid advertisement. Guild Mortgage is not affiliated with Keller Williams Boise.


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Request a free consultation and learn more about our marketing.

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Trey Langford

  Email
  (208) 724-9636

 

 

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