2019 Boise Idaho Real Estate Blog

How much money you could make in equity in your home over the last 7 years? Main Idaho Real Estate Insights

Check out some of our latest charts on the Boise real estate area market and home appreciation.

Idaho Real Estate Report

The following charts depict 'average' home values by year. Each cloumn shows : average home values and appreciation/ depreciation.

Existing Homes For Sale-

Ada County Idaho Exisitng Home Values 2017

New Homes Sold Average Values

Ada County Idaho New Home Values 2017

The one thing that I noticed from this chart is this- If you purchased your home in 2011, you potentially have gained over $100k in equity in your home.

Check it out. If you purchased an average home in 2011, you would have paid around $160k and today that home is worth around $275k. So you have increased your net worth $115k and all you did was live in the same spot for the past 6 years. 

Similarly, the average new home in 2011 cost $233k and today is worth $353k, or $120k more.

What to take away from this post? The charts track 'average' home values so there is a lot of grey area in the word average. We would need to take a deeper dive into your home to learn how much equity you actually gained. Different areas have different attractivenes ( ie demand) and we should look at exactly how your home compares to neaby competing homes. Also, have you taken care of your home or even made improvements? A lot goes into determining your home's value and many are finding out that Zillow is not accurate which has to do with Idaho being a non-disclosure state.

This post is not to say your home is worth $100k more than what you paid back in 2011.... but it could be! The chart tracks home values and shows how the market has changed over the years. One way to succeed in real estate is to stay the course. Real estate investing and increasing your worth is an inestment in time as well as selecting a beautiful home with a fantastic floorplan and taking care of it.

If you are interested in learning more about your homes value, request it.

Trey Langford

 
Posted by tlangford at 12/14/2017 4:45:00 AM
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