Meridian ID Short Sales Fall 13% in 2012

January 30, 2013 by  
Filed under Market Statistics

Meridian ID short sales have fallen 13% compared to one year ago.  In 2012 there were 314 short sales, while there were 360 in 2011.  In addition, of the 1,894 Meridian Idaho real estate sales in 2012, 16.6% of them were short sales.  In 2011 about 21% of total sales were short sales.  The chart below shows short sales in Meridian ID for the past two years.  Most months in 2012 had fewer Meridian ID short sales than the same months in 2011.

Meridian ID Short Sales 2011 vs. 2012

Of all foreclosure sales (short sales, REO, & HUD properties) Meridian ID short sales were the most dominant in 2012, while REO sales were more dominant in 2011.  That’s because Meridian Idaho bank-owned & HUD properties have fallen dramatically from 459 in 2011 to just 176 in 2012.  That accounts for a 62% drop in REO & HUD sales in 2012.

Meridian ID Bank-Owned & Hud Homes 2011 vs. 2012

In 2011, 42% of Meridian ID foreclosures were short sales.  Because fewer REO properties are available, short sales accounted for nearly 60% of total distressed sales in 2012.  Also, in 2012, short sales in Meridian ID were on the market a shorter period of time than in 2011.  The median amount of time on the market in 2011 was 159 days.  Short sales sold nearly a month sooner in 2012 (133 days).

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