Meridian Idaho short sales for 2011 were higher than 2010 for most of the year. The exceptions were June and July when 2011 short sales dropped below 2010 levels for the first time since January; and December 2011, when the number of Meridian Idaho short sales equalled 2010 totals.
In 2011, Meridian bank-owned properties declined from a high of 59 in May to a low of 31 in December. This is vastly different from 2010 when the number of bank-owned properties increased dramatically during the last two months of the year.
The market share of Meridian Idaho short sales and bank-owned properties (foreclosure properties) for 2011 were above 50% for January through April, dropping below 50% in May 2011 for the first time since November of 2010. The percentage of foreclosures stayed below 50% from May through the remainder of the year.
This trend in bank-owned and short sales in Meridian Idaho is dramatically illustrated in the graph below. As can be seen, beginning in May 2011, non-foreclosure sales vastly outnumbered foreclosures, sometimes by more than double.