Boise Idaho Home Values
Zip Codes: 83701, 83703, 83702, 83705, 83706, 83709, 83713, 83714, 83716

Just about every news headline that discusses real estate lists how great it is to live in Boise. What this city offers is peace of mind, common sense, friendliness, and plenty of other ways that make it such a desirable place to live. Do you want to live in a place where people on the street say hello with a smile? How about access to outdoor activities for all four seasons, within an hour's drive from home? The result of all this greatness is increased popularity, growth, and home values. 

Boise Idaho Real Estate Market Snapshot

 

365400

Median Price

40500

1 Year Appreciation

234000

10 Year Appreciation

447000

Boise Metro Population

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Boise Real Estate Market Overview

Boise Real Estate Market Profile

 

 

Median Price of Homes for Sale in Boise

 

 

History of Boise Home Values Graph
Check out the chart below to see how home values have changed over the last 15 years. These charts depict each MLS area and lines track NEW compared to EXISTING Median Home Values by quarter since 2005. These trend lines also display the growth of the Boise area.

Boise and Ada County Idaho Home Values

The local real estate market seemed to bottom between 2010 and 2011 during the Great Recession and has climbed steadily ever since. Northern Boise and the Foothills have captured premium prices. These luxury homes with incredible views are popular for those that can afford to make the Boise lifestyle part of the property! Closer to downtown people are seeking homes that need renovations but willing to pay full price to have them before the cost of remodeling.  Harris Ranch in NE Boise remains the destination for lifestyle with Foothills and River access plus easy commute to downtown. Quality of Life seems to be a recurring theme and trend for comparing home values.

How many homes are for sale in Boise?

Boise Idaho Homes for Sale Inventory- How many homes are for sale?

The number of homes for sale in Boise has dwindled downward since June of 2020. Boise continues to be on a lot of people's radar who are looking to relocate. There is no real sign of change but developers are bringing on more building lots so there is a chance that they can help with the shortage of available homes. If you are looking for a great place to live and can telecommute, you may also want to be near this technology and entrepreneurial mecca.

What are home Values in Boise?

Boise is broken into different areas. Each area is unique and offers different features and reasons to live there, the price being the obvious criteria. Below is a break down of house values by area. One piece of information that is not displayed in the charts is details about homes. For example, in NE Boise there are a lot of smaller homes and yards while the Bench area, which is considered less desirable may offer larger properties as many of the homes are older.

Boise Home Prices by Area:

  Median New Construction Existing Homes
North Boise $605,000 $617,425 $585,000
Northeast Boise $637,500 $534,533 $745,000
Southeast Boise $444,419 $448,900 $426,100
Boise Bench $377,500 $415,000 $369,900
Southwest Boise $409,000 $399,900 $435,000
West Boise $375,000 $360,000 $375,000
Northwest Boise $555,162 $612,668 $470,000
Garden City 325,250 $438,400 $299,950
*source Intermountain MLS

 

The Boise housing market was very active and competitive in 2020, and 2021 looks to continue that trend. Homes for sale in Boise receive multiple offers and sell in an average of 19 days, compared to 49 days in 2019. The median sale price of a home in Boise Metro was $434,900 at the end of 2020, up 24.29% from 2019. The average sale price per square foot in Boise is over $198,000 up about 10.06% since 2019.

How have Home Values Changed Year over Year?

includes all Boise MLS Areas

  Median Price %∆ Year-Over-Year Total Homes Sold %∆ Year-Over-Year
2020 $375,000 +13.64% 6,114 +1.63%
2019 $330,000 +13.01% 6,016 -3.87%
2018 $292,000 +18.94% 6,258 -2.05%
2017 $245,500 +  8.18% 6,389 +2.67%
*source Intermountain MLS

 

What does the inventory of homes for sale look like currently? How many homes are there for sale?

How many homes are for Sale in Boise ID?

Is the Boise Housing Market going to Crash? Is it going to slow down?

Idaho Real Estate Agents have been upbeat about the market since 2011 when it rebounded from the crash in 2008. People began looking about 4 weeks after most cities were shutting down to reduce the infection rate of CoVid, around April 2020. Since then, inquiries and home showing requests have ticked upward in a nearly vertical increase. The pressure for real estate agents to find clients a home has been full throttle. We have discussed real estate market conditions in many of our blog posts.  

Is Boise a good place to invest?

There has been much interest from every type of investor but with home prices rising fast and the average consumer aware of their opportunity to sell for a fair price, good deals are slim. Even developers are paying top dollar in hopes the market remains more than strong. Several large land deals have been put together over the last 6 months. Keep in mind that land normally has a two-year cycle before it is available to build on and means homes for sale are an additional 6 months lag. So developers are very positive about the market.

Additionally, there are several cranes that you can see in the skyline above Boise. There are a number of commercial projects happening with more continuing to make the news. Many retail and large service providers are bringing their products to Boise. There are also a small number of manufacturere considering Boise. Many of these are business decisions but part of that is that the executives and owners want to live here.

Why is Boise Real Estate Booming?

The point cannot be emphasized enough, "Quality of LIfe!" So many people are moving here for affordability, liveability and just the common sense approach that people see to how the state is running and how people live together. As Trey Langford, founder of Build Idaho says "The crazier the world gets, the better Boise looks!"

 

Top Selling Communities

(including North, Northeast and Northwest Boise)

  Total Home Sales Median Price
Cartwright Ranch 20 $564,553
Dry Creek Ranch 19 $735,945
Finis Terra 10 $667,500
The BLVD 10 $628,500
Avimor 8 $687,923
Timber Square at Harris Ranch 6 $655,000

Top Communities Guide

Download Complete Pricing Data for all areas including price/ sq ft.
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Sourced from: Intermountain MLS