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2018 Meridian Idaho Real Estate Market Summary
If you are thinking of buying or selling a home in the Boise, Idaho area, you need to start by looking at statistics of where the market is first! You need to drill down to the type of property specific to your situation.
This blog is designed to be a mile high overview of the market in Meridian (adjacent to Boise). I chose to report on Meridian instead of Boise since that is where a lot of the growth is and the homes are newer than Boise. I am also going to drill down to just resale homes, since new homes skew the data based on were they listed as plans and specs or when they were finished; did the sales price include upgrades like landscaping, fencing, better flooring, etc.!
In the table below, you can see we had an extremely strong market in 2018. Of the 1,596 resale homes that sold in Meridian in 2018 that were priced between $199,000 and $400,000; you can see the average sale to list price ratio was 99.81%! The average days on market was only 18 days (a standard balanced market is about 90 days).
The chart shows that only 90.73% sold but that is misleading since ... more
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