Meridian ID Short Sales | Jan. – June 2012

Meridian ID short sales have outpaced bank-owned and HUD properties for the first half of 2012.  As can be seen in the following illustrations, Meridian Idaho short sales have been the same or slightly higher than the sales of bank-owned (REO) or HUD properties since January 2012.  This is in sharp contrast to the first half of 2011 when the sale of bank-owned and HUD properties were higher than short sales, sometimes by as much as 48%.

Meridian Home Sales by Type | Jan. - June 2012

Meridian Idaho Home Sales by Type | Jan.-June 2011

The ratio of bank-owned properties and Meridian Idaho short sales is not the only difference in the Meridian Idaho real estate market for 2012.  The number of non-foreclosure sales compared to foreclosures and pre-foreclosures has seen a major increase.  In January 2012, there were 45 non-foreclosure sales.  Monthly sales have since risen steadily and in June there were 137 non-foreclosure sales in Meridian Idaho.  This is an increase of 204%.  During this same time period, the number of Meridian ID bank-owned, HUD properties and Meridian ID short sales have decreased.

Meridian ID Foreclosure Market Share | Jan.-June 2012

In 2011, the foreclosure market share ranged between 41.8% and 65.2%.  In 2012, the Meridian Idaho foreclosure market share ranged between 22.5% and 45.8%.


Meridian Short Sales | Meridian ID Market Update

Meridian short sales & bank-owned homes continue to have a strong influence in the market.  In August, 51.9% of the real estate sales were foreclosure properties.  This is about average for what we’ve seen over the last 8 months.  The graph below shows the market share of Meridian foreclosures for 2010.

Meridian bank-owned sales continue to outpace Meridian short sales.   The graph below breaks down the monthly sales between short sale, bank-owned, and non-foreclosure properties.

Existing home sales make up the bulk of the market activity.  In August ’10, there were 36 new home sales verses 95 existing.

The overall median home price in August $161,004, this is down just slightly from a year ago ($163,099).

Meridian Idaho Short Sales & Stats in December ’09

Almost 47% of the December home sales in Meridian Idaho were Meridian Short sales or Meridian Bank-Owned Homes.  This is one of the highest months yet and for December surpassed Boise & Eagle’s foreclosure market share (see next 2 graphs).

There were  20 closed Meridian short sales and 39 sold bank-owned homes.   The increase in the market share was not due to more foreclosure sales but a decrease in Non-Foreclosure sales. See next graph.

Overall Meridian real estate sales were up 28% compared to the same time last year but down from November.  November had posted the 2nd best month all year for new home sales but took a big dip in December.

IMLS is the source of this data. Information not guaranteed.

Browse through Meridian Idaho short sales on this site.

Meridian short sale stats | 2/10/09

The Meridian MLS (IMLS) currently has 242 homes listed as possible short sales.  This is up from about 210 on 11/28/08.  The Meridian real estate market has 1153 homes for sale so about 21% are short sales.


45 of the Meridian short sales are listed as “contingent” which means an offer has been submitted for lender approval.  This process usually takes about 8 weeks.  Most short sales have the right to continue to market so other offers can be made on these properties.

Data source: IMLS. Information not guaranteed.

Meridian Short Sales 11/26/08

As of November 26, 2008 there are 210 homes listed as possible short sales in Meridian Idaho.  Meridian short sales are one of the best ways to get a home under market value in today’s market.

If you’re thinking about buying a home in Meridian, make sure you at least know your options with buying a short sale.  Short sales are not easy to close, but if your patient, they have the potential to reward you.

I’m a Realtor in the Meridian area specializing in short sale and bank-owned real estate.