Here we are in the middle of June already! I thought it would be a good time to check out how the real estate market has been going so far this month, and in this post I'll just look at what's going on in Meridian.
At the end of last week in the MLS, there were 1537 Single Family Residential listings active for Meridian. That doesn't count condos or mobiles or townhomes (unless someone listed them SF...grrr!). The low price is $109,000 and there is one at $1.6million. The average, however, is $314,402, with a median price of $289,450. Average and median are not the same... average adds them all together and divides by how many there are. I find median to be more useful as that is the number right in the middle. In other words, the same number of homes are above that median number as there are below it.
Looking more closely, it appears that there are only 100 listings above $479,000, and 170 below $200,000, and just under 700 listings fall in the $200,000 to $300,000 range. That's about what I would have thought for our area... what did you think it was? Where you surprised to see where the bulk of our market falls?
So far in June, we've had 105 listings sold. The range of prices has been $145,530 on the low end, and $600,000 on the top. The median in this bunch was $264,825, which goes along with my feeling that the low end of the market is still moving. And there are currently 259 sales pending.
Later on over the next week I'll try to break some of these down a little further, and see how the new homes are selling compared to the existing homes. If you have a neighborhood or a certain stat you are interested in, feel free to contact me.
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