Tagged : meridian idaho real estate

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Meridian ID bank-owned homes are down significantly compared to 2011.  In fact, December 2012 posted the lowest number this past year for REO and HUD properties with 9.  That's roughly a 72% drop from the year before.  Most months in 2012 had fewer than 20 bank-owned sales.  The chart below shows the dramatic change for sales of bank-owned homes in Meridian since 2011.  Each month in 2012 posted significantly lower numbers than the same month in 2011.

Meridian Bank-Owned & Hud Homes 2011 vs. 2012

Of the 9 Meridian ID bank-owned homes sold in December, none were in the same subdivision.  However, 6 of them were sold in Northwest Meridian.  Of the remaining three, 2 properties were sold in Northeast Meridian and the remaining one was in Southeast Meridian. The prices of those homes ranged from

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The median price of homes has gone up in the Meridian Idaho real estate market, especially when compared to one year ago.  For instance, the median price during the month of November was $185,000.  During Nov. 2011 the median price was $157,590--nearly $30,000 less than this year.  What's more, this year the median price for real estate in Meridian Idaho has been climbing since January.  In comparison, in 2011 the median price was relatively steady throughout the year.  The chart below also shows that 10 out of 11 months this year have outperformed the same months from one year ago.

Meridian Idaho Median Sold Price 2011 vs. 2012

Likewise, most months this year also had more home sales in the Meridian Idaho real estate market compared to last year.  And even though 4 months underperformed

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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.

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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…
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The total number of home sales in the Meridian ID Real Estate market dropped from August, but still posted a solid September, with 145 total homes sold.

Meridian total home sales

NW Meridian, typically the top selling area in the Meridian ID Real Estate market, saw sales the biggest difference in September, but still led the way with 68 home sales.

Meridian sales by area

The Meridian ID real estate market had a 38.6% foreclosure rate in the month of September, which is down from August but higher than June and July.  The Meridian foreclosure market is made up of Meridian short sales and Meridian bank owned homes.

Meridian foreclosures

Data source: Boise MLS (IMLS).  Information deemed reliable but not guaranteed.

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Sales in the Meridian, Idaho real estate market bounced back from July, as total purchases increased by a number of 34 in August.  The graph below shows sales in the Meridian, Idaho real estate market for the last four months:

Meridian home sales 2

When broken down, foreclosures in the Meridian, Idaho real estate market have increased since May in both bank-owned and Meridian short sales, with 44 and 33, respectively.  Non-distressed home sales also showed an increase from July, going from 96 to 110, as seen in this graph:

Meridian Idaho Real Estate Sales

During the month of August, NW Meridian continued to be the hot spot in the Meridian, Idaho real estate market, as 50% of total houses sold in that area.  All but SW Meridian showed a jump in sales in August compared to the previous month.  The

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