Meridian Idaho Real Estate Nov ’10

Posted by Jace

December 16, 2010

The Meridian Idaho real estate market had 124 home sales last month compared to 175 last year. Keeping in mind that Nov’ 09 the tax credit was set to expire before but was later extended.

While the majority were existing homes sales last month there were also 19 new home sales. The Meridian neighborhoods that accounted for the majority of the new home sales were Alpine Pointe (3 sales), Bridgetower (4 sales), and Paramount Subdivision (3 sales).

The majority of Meridian homes being purchased are foreclosures. Last month, 57% percent of the real estate sales were either Meridian short sales or Meridian bank-owned homes. This is about average for what we’ve seen over the last year. Here’s the Meridian foreclosure market share since March ’10.

As you can see from the graph below, the number of foreclosure sales in Meridian Idaho has been relatively level compared to that of non-foreclosures. During the spring & summer the non-foreclosure sales surged (tax credit). The number of short sale closings has dropped in recent months while Bank-owned has gained steam. The same has been true for the Ada County.

Meridian Idaho Real Estate Sale Type Nov '10