Real Estate Statistics for Meridian, Idaho-February 2011

Today’s post we will look at the February 2011 numbers for Real Estate in Meridian, Idaho. These numbers will cover active listings, pending, and sold with my commentary following each grouping.  Please note that the numbers are based on MLS data for single family and single family w/ acreage.

Available Homes

# Available: 688 (as of 3/5/2011)

# Vacant: 399

# Short sales: 223

# Bank Owned: 57

Median Asking Price; $167K

Number of homes on the market is down from January’s 606 and the median asking price went up very slightly from January’s $165K.

Pending Sales:

# Pending: 170

Median Asking Price: $156K

Pendings are up from January’s 152 and the median price dropped from $162,400.

Closed Sales:

# Closed: 105

# Short Sale: 27

# Bank Owned: 35

# of Days on Market: 73

Median Sold Price: $154,875

February closed sales for Meridian actually looks pretty good considering this was a shorter month. Closed sales were up from January’s 97 and the Median Sold Price was almost identical ($155K in January).  59% of the homes sold were distressed which is still way too high. Although the good news is that we are getting those properties moved through the system.

I wanted to point out that I have removed average sales prices.  They just do not reflect prices because we have too much swing in the high and low ends, making the median prices more reliable. I also have started adding in the number of distressed properties (short sale and bank owned) for the available and sold homes. This is because just listing the vacant homes does not give a full picture of what is going on. Not all vacant homes are distressed and not all occupied homes are okay. I have also added Median Days on Market because that is also an important number to watch. This helps homeowners to get a better perspective of how long it may take to move their home if it is reasonably priced. 

Tomorrow I will give the ADA county statistics which will have all of the Boise Real Estate Market as well as Meridian and Eagle. If you would like to see more statistics for the Boise Idaho area please see my posts under the Boise Real Estate Statistics category or go to my website (no sign in required); http://www.BoiseRealEstateChick.com

  1. March 29th, 2011

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