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Boise New Homes Cost More

November 17, 2014

Boise New Homes

If you’re in the market for a new home, be prepared to spend more than you would for the average resale home.
The simple truth is that Boise new homes cost more than resale homes now.
There are many reasons, including:

  • Rising land/lot costs.
  • Rising materials costs.
  • Rising labor costs.
  • StrongerĀ building codes and energy standards.
  • New homes are often larger with more amenities.

Here’s a comparison of closed Boise new homes sales vs. resale home sales for October.

Boise ResaleĀ Home Sales

  • # Closed: 544
  • Average Sales Price: $229,642
  • Median Sales Price: $190,250

Boise New Home Sales

  • # Closed: 131
    % of Total Closed Sales: 19.4%
  • Average Sales Price: $324,258
    % Difference: +30.8%
  • Median Sales Price: $304,900
    % Difference: +46.6%

Data pertains to Ada County single-family homes on lot or acreage.
Data does not include condo or townhome properties.
Data pertains to the month of October 2014.
 

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Phil Hoover
Real Estate Broker
Phil Hoover, Inc

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