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 ID Short Sales | August 09 stats

In August, Meridian ID short sales made a dramatic increase, jumping from 17 sales in July to 33 in August.  Sales for non-distressed, bank owned, and short sales over the past five months are shown below:

Out of the 187 homes sold in the Meridian real estate market in August, 44 of them were Meridian bank-owned homes and 33 of them were Meridian ID Short Sales, which made foreclosures 41.2% of Meridian’s total real estate market. The market share for Meridian foreclosures over the last four months is shown below.

As shown, there has not been such a high percentage of foreclosed homes sold in the Meridian ID Real Estate market since May of 2009.  The graph below breaks down the homes sold in each area of Meridian, and shows that NW Meridian continues to be where the majority of houses are purchased, with 94 sold out of the total of 187.

Currently, there’s 306 Meridian ID Short Sales listed, which makes short sales 29% of the total real estate market in Meridian, Idaho.

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

Meridian Idaho Short Sales | Stats July ’09

Non-distressed, bank-owned, and short sales in the Meridian real estate market over the last four months are broken down in the graph below. There were 17 sold Meridian Id short sales in July compared to 29 in June.

153 homes sold in the Meridian real estate market during the month of July, of those, 40 were Meridian bank-owned homes and 17 were Meridian short sales, making foreclosures in Meridian 37% of the town’s total home sales. The Meridian foreclosure market over the last four months is shown in the graph below.

The median home sold price in Meridian during July was $178, 200, and the average home sold price was $190,644.

The North West area of Meridian is where the majority of homes are selling. As the graph below illustrates, NW Meridian made up 56% of the total market share, while SW Meridian accounted for the smallest amount of home sales at 5%.

Currently, there are 303 Meridian Idaho short sales listed, making short sales 28% of the total listings in the Meridian real estate market.  Search Meridian Idaho short Sales now.

Data Source: Boise MLS (IMLS). Information deemed reliable, but not guarenteed.

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.

LIST PRICE:

HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT $799,000 $95,000 $229,572 $199,950 $55,556,581 242

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.