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Boise New Home Sales: 2005-2010

March 11, 2011

Here’s a breakdown of Ada County new home sales for each year from 2005 through 2010.

2005

  • # Sales: 4,900
  • Average Price: $246,654
  • Median Price: $219,900

2006

  • # Sales: 3,812
  • Average Price: $299,191
  • Median Price: $275,000

2007

  • # Sales: 1,926
  • Average Price: $316,416
  • Median Price: $273,900

2008

  • # Sales: 1,426
  • Average Price: $257,597
  • Median Price: $216,000

2009

  • # Sales: 1,249
  • Average Price: $198,077
  • Median Price: $168,090

2010

  • # Sales: 1,029
  • Average Price: $203,322
  • Median Price: $174,467

The trend lines are consistently downhill for closed units, but interestingly, prices rose a little in 2010.
Will 2011 be the year that breaks the trend?
I think it might and here’s why.
I am seeing sticks going up in many Treasure Valley subdivisions including Paramount, Harris Ranch, Spurwing Greens, Bridgetower, and various other subdivisions throughout the Treasure Valley.
To my astonishment, I even saw a semi loaded with trusses on Eagle Road last week!
Buyers are awakening to the fact that there’s a reason why short sale and REO listings sell at lower prices ~ they are not in the same condition as a brand-new home, not built to recently-strengthened building codes, and often (usually?) not Energy Star Compliant.
And, then, there’s the difference in the aroma of a new home vs.  a short sale or REO listing.
Data pertains to Ada County new single-family homes on lot/acreage and does not include condo/townhome properties.

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Phil Hoover
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Phil Hoover, Inc

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