Boise Home Prices | Median Home Price Trends

Posted by Jace Stolfo on Friday, February 25th, 2011 at 1:53pm.

It no surprise that with the number of foreclosures in the market, that Boise home prices have continued to be impacted.  However, you may be surprised to learn there's actually an upward pressure on values in certain segments of our local market.

The median home price is what is commonly used by the media & appraisers to calculate appreciation or depreciation.  While I don't agree the median home price accurately reflects appreciation or deprecation, I do think it canoften reflect the market pressures.

I compiled the home sales for Ada County over the last year (2/24/09 to 2/24/10).  Below you can see how the median home price has changed.

Boise Real Estate Prices Prior 7-12 Months Prior 4-6 Months Current-3      Months Current Trend
North Boise - 0100 $238,500.00 $225,750.00 $234,750.00 Up
NE Boise - 0200 $292,000.00 $267,974.00 $298,961.00 Up
SE Boise - 0300 $175,000.00 $169,500.00 $155,900.00 Down
Boise Bench - 0400 $113,000.00 $102,700.00 $88,450.00 Down
South Boise - 0500 $148,450.00 $139,000.00 $137,700.00 Down
SW Boise-Meridian - 0550 $145,000.00 $139,211.00 $130,000.00 Down
West Boise - 0600 $123,500.00 $112,500.00 $102,300.00 Down
W Boise-Garden City - 0650 $142,133.00 $141,500.00 $122,950.00 Down
Garden City - 0700 $104,250.00 $55,000.00 $90,000.00 Up*
NW Boise - 0800 $159,000.00 $155,750.00 $159,000.00 Up
Eagle - 0900 $264,500.00 $264,750.00 $308,000.00 Up
Star - 0950 $155,000.00 $147,000.00 $137,381.00 Down
SE Meridian - 1000 $179,500.00 $179,864.00 $162,000.00 Down
SW Meridian - 1010 $218,062.00 $170,500.00 $240,000.00 Up*
NE Meridian - 1020 $170,115.00 $157,000.00 $149,582.00 Down
NW Meridian - 1030 $170,115.00 $157,000.00 $149,582.00 Down
Kuna - 1100 $119,900.00 $109,450.00 $103,700.00 Down

*Area 0700 only had 24 sales for the year and area 1010 had 65 sales.  With the limited sale volume, the median home price is not going to be a very reliable source. You can see the boundaries for these areas by visiting this map.

As you can see, the most desirable areas of the county are actually trending upwards.  These include N & NE Boise, as well Eagle.  NW Boise has also most recently trended upward.

Breaking down the market like this helps paint a much clearer picture of what's actually going on in the market.

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