Meridian Idaho Real Estate Market Stats

Posted by Jace

January 27, 2010

Compared to a year ago, December real estate sales in Meridian Idaho were strong with a 28% increase. Almost half (47%) of the Meridian Idaho real estate sales were foreclosures compared to 38% in last month. This is a higher market share than Boise & Eagle during December but less than Star that had a 72% market share.

During December the Meridian Idaho real estate market closed 39 Meridian bank-owned homes and 20 Meridian ID short sales. As you can see from the next graph, the amount of foreclosures was fairly consistent during the 4th quarter.

The graph below shows new home sales compared to existing homes sales in the Meridian Idaho real estate market. November had posted the 2nd best month for new homes in 2009 with 73 but in December posted just 37, a 50% drop. Existing home sales in Meridian have been more level over the last 6 months.

The absorption rate for Meridian Idaho real estate is currently the 2nd best in the county based on December sales. The absorption rate is a snapshot of supply & demand in the market.