April 2011

There are 3 blog entries for April 2011.

Real Estate sales in Meridian ID have been relatively strong so far in 2011.  Although, when comparing last month to a-year-ago you'll immediately notice sales were down about 24%.

However, it's important to remember the tax-credit was in full swing and was expected to end 4/30/10 (but then extended to 6/30/10).  As a result, sales were booming at this time last year before drastically dropping off mid-summer (see red line on chart below).

When comparing March sales to '08 & '09, real estate sales were up 15% & 19% respectively.

It's probably safe to assume that the next few months of sales will continue to fall short of last year.  Below you can see the Meridian real estate sales over the last 2.5 years.

Meridian ID Real Estate Transactions

Although the overall number of

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As recent studies in Ada County have shown, the higher the price range, the fewer the percentage of foreclosures on the market.

The Eagle ID real estate market is no different.  Near the beginning of April, there was a total of 195 home for sale in Eagle.   Thirty-six percent of these were distressed properties (short sale or bank-owned).   The following graph shows the percentage of foreclosures in Eagle by price class.

Eagle ID Foreclosures

So far in 2011, overall real estate sales in Eagle have been about level with 2010 but up over '08 & '09.

Eagle Id Real Estate

The Eagle ID real estate market had 71 single-family home sales in the first quarter of 2011.  Eight-nine percent of these were existing homes and eleven percent new homes.  The Shores in Eagle ID had the largest

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As of 4/14/11, there's 2413 homes for sale in Ada County.  747 of these are short sales (31.0%) and 211 are Bank-Owned homes (8.7%).

I'd thought see how the percentage of foreclosures on the market correlate with the age of the home.  The real estate boom the Boise area was in '05-'07 with the peak in late '06 & early '07.  I assumed that I would see homes built in this time-frame carry the largest percentage of foreclosures and as you can see below, it does.

Nearly 50% of the homes built in '05-'07, that are currently for sale, are short sales.  While homes built 1920-1939 have the fewest with 18.5% (with the exception of new construction at 0.2%).

Short Sales by Age

For bank-owned properties, the fluctuation is much less, but those '05-'07 homes still carry

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