Does New Construction Pricing Lift Existing Home Price?

[Ali Hashmi]

I recently purchased my first property for $540K.  It is 2,450 square feet and was built in 2008.

Across the street, the same builder just put 8 new homes on the market for $300K more ($845K). The houses are 200 square feet smaller than my home, but have a 2 car garage.  My home was built in 2008.

Once these new homes sell, will they significantly lift the value of my home?  

I should note there are only about 10-12 homes in this immediate  area, not including the new homes.  Only 3 homes have sold in the past 3 years.