Subject: SVY
The Top 125 Most Valuable Subdivisions in Boise, Idaho
BOISE, Idaho, Sept. 26, 2023 /PRNewswire/ -- How much has your home actually appreciated since 2021? To answer the frequently asked questions "What are the top subdivisions in Boise?" and "Where are the most desirable places to live in Boise?", Build Idaho performed a study of home price appreciation to get a concrete answer to these subjective questions.
The Boise area has flooded the news over the last few years with how fast home prices have risen. Recently, Boise has made headlines for how home prices have adjusted from the pandemic-induced buying frenzy.
Buying a home is an investment. Has your investment paid off?
Here are the top 5 most valuable subdivisions in the Boise area.
Subdivision | Area | Total Sold | Median Price | Year-Over-Year |
Briarhill | NW Boise | 7 | $750,000 | 56.25 % |
Randall Acres | NW Boise | 191 | $550,000 | 54.49 % |
Highland | Emmett | 43 | $539,900 | 53.78 % |
Brumbacks | N Boise | 16 | $800,000 | 48.56 % |
The Oaks North | N Meridian | 159 | $673,805 | 43.61 % |
Three key takeaways are:
Homebuyers don't seem to favor one specific area
The list isn't concentrated on one city or even one part of any given city. The top 10 most valuable subdivisions are in Boise, Emmett, Meridian, Eagle, and Caldwell. If location isn't as much of a factor, what are buyers looking for?
Generally, newer homes did better
New subdivisions sat toward the top of the list. New homes offer modern styling, architecture, and finishes, plus have less maintenance. These are all attractive to buyers. As such, buyers are willing to pay more for newer and better home features.
While new construction tends to be valued higher because market prices have already risen to a certain level, having increased demand for new homes drives up demand. However, existing subdivisions reigned supreme in the third takeaway.
Lifestyle
The subdivisions that topped the list with the highest year-over-year appreciation catered largely to existing subdivisions that offer active lifestyle amenities. Living in the Boise Foothills, having schools in or near the subdivision, multiple parks throughout, sport courts, playgrounds, and integrated walking paths all support a safer and healthier living.
To reiterate the question at the top: has investing in the home you currently live in paid off? Click here to view the top 125 subdivisions across the Treasure Valley and see how your subdivision ranks.
Source: https://www.buildidaho.com/idaho-real-estate-reports/most-valuable-neighborhoods/
SOURCE Build Idaho
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