Metro Boise Homes Prices Near All Time High!
Boise homes for sale and prices of Meridian real estate near pre-recession high! The median home price in Ada County was 204,300 in 2016. That is an 8 % increase over last year. The all time high was in 2008 when the median home price registered at $211,600. It appears with the high demand and low supply that the record may fall before the new assessments go out next year. This is the fourth year in a row with increasing home values. Unlike the boom of 2004-2008 where we saw double digit appreciation, this time around we are experience a more healthy and sustainable 6-8% appreciation. In 2012 home prices bottomed out with a median price of just $137,900. I am guessing there are a lot of renters who did a short sale or let their house go back to the bank that may well be regretting that now. Hopefully the new lending practices based on ability to pay, we will see prices of Boise real estate and Meridian homes for sale continue appreciating well into the foreseeable future!
Some of the property value increases are a little staggering. For instance 33.6% in Southwest Meridian…wow. I am guessing that may be a result of the fact that the homes being built are much larger than what was there previously. My money is on a more modest appreciation number over all. For instance if you owned an 1800 square foot single level that was worth 200k in 2015, it is worth more like 225k this year, not 264,900. But the subdivision behind you that put in 35 new homes at 325-400k raised the overall median for the area. Some other areas with a more modest appreciation are, Eagle homes for sale are listed with prices 7 percent higher than last year, While Star mls homes for sale and Star real estate is 10 percent more expensive. Homes for sale in Meridian where as follows, 7.2 % for the northeast Meridian real estate. Coincidentally that is the same as for 2015. While Northwest Meridian homes for sale saw an increase of 5.2 percent
New homes for sale in Meridian and Boise are becoming a larger and larger part of the Boise real estate market and the Boise mls as a whole. The builders are trying to keep up with the demand. But with both new homes and existing homes selling as soon as theyare listed or finished, the mls is filled with many Meridan new homes that are too be builts and Boise new homes that are under construction.
If you are a home buyer actively looking for either a new home for sale in Meridian, Boise or beyond, it pays to develop a relationship with a great realtor. It can be the difference between you being first in line or last in line. The super easy search tools on our website at BoiseRelocation.com are update no less than 4 times an hour. Create and account, enter your search parameters and watch the listings roll in. The tools are Innate, intuitive & you will have results in a snap! Last year, 2015, Almost 2/3 of the construction in the state took place in the Boise real estate market with 371 million in starts and Meridian real estate had 423 million in new homes completed. It is a delicate balancing act as no one wants to get caught with 15 half built homes when the market starts to slide. In addition all of the subcontractors are working at maximum capacity to keep up.
Find below a complete list of the mls areas and the appreciation for 2015-2016.
2016 Median Home Prices By Boise Mls Areas
Area 100 North End Boise Real Estate
Area 200 Northeast Boise Real Estate
Area 300 Southeast Boise Real Estate
Area 400 Boise Bench Boise Real Estate
Area 500 South West Boise Real Estate
Area 500 Southwest Boise Real Estate
Mls Area 600 West Boise Real Estate
Mls Area 650 West Boise Real Estate
Mls Area 700 Garden City Real Estate
Mls Area 800 Northwest Boise Real Estate
Mls Area 900 Eagle Real Estate
Mls Area 950 Star Real Estate
Mls Area 1000 Southeast Meridian Real Estate
Mls Area 1010 Southwest Meridian Real Estate
Mls Area 1020 Northeast Meridian Real Estate
Mls Area 1030 Northwest Meridian Real Estate
Mls Area 1100 Kuna Real Estate