Boise Real Estate: Price Changes By Price Range
As I posted a few days ago, overall prices for Ada County homes have risen substantially in the past year.
Here’s a breakdown of year-over-year price changes by price range.
Under $200,000
- March 2011 Average Sales Price: $118,360
- March 2012 Average Sales Price: $128,552
- % Change: +8.6%
- March 2011 Median Sales Price: $119,000
- March 2012 Median Sales Price: $127,000
- % Change: +6.7%
$200,000 to $299,999
- March 2011 Average Sales Price: $241,589
- March 2012 Average Sales Price: $237,199
- % Change: -1.8%
- March 2011 Median Sales Price: $240,750
- March 2012 Median Sales Price: $230,500
- % Change: -1.8%
$300,000 to $399,999
- March 2011 Average Sales Price: $348,206
- March 2012 Average Sales Price: $335,455
- % Change: -3.7%
- March 2011 Median Sales Price: $344,881
- March 2012 Median Sales Price: $330,000
- % Change: -4.3%
$400,000 to $499,999
- March 2011 Average Sales Price: $457,583
- March 2012 Average Sales Price: $432,950
- % Change: -5.4%
- March 2011 Median Sales Price: $475,000
- March 2012 Median Sales Price: $422,500
- % Change: -11.0%
$500,000 and Above
- March 2011 Average Sales Price: $567,142
- March 2012 Average Sales Price: $634,200
- % Change: +11.8%
- March 2011 Median Sales Price: $535,000
- March 2012 Median Sales Price: $597,500
- % Change: +11.7%
Takeaway:
- This data clearly indicates that most of the Ada County’s price appreciation has been in the under-$200,000 price range.
- The middle price ranges remain very soft.
- Interestingly, the $500,000+ price range gained more price appreciation than the middle price ranges ~ numbers that I do not trust due to the very small number of sales (roughly 10 sales!) in this price range.
- It’s always good to remember that all statistics depend upon the “mix” of properties included in the comparison; it doesn’t take much to skew the numbers when there’s little activity.
- It’s also very important to understand that all of this data is going to substantially change when our current 1,100+ pending sales close escrow.
Data pertains to Ada County single-family homes on lot/acreage. Data does not include condo/townhome properties.
April 14th, 2012 Posted in Boise Market Stats
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