2010 Mid-Year Idaho Real Estate Report

Idaho Real Estate Report for July 1, 2010

What is happening in the Idaho Real Estate market?

The middle of 2010 for the Idaho real estate industry brings quite an uphill road to run. With foreclosures and short sales being a large portion of our market, it is difficult for sellers who bought at higher prices, but an incredible opportunity for buyers!

At a glance: Treasure Valley Single-Family Home data as derived from the Intermountain MLS
From Jan, 1, 2010 to July 1, 2010:
     Inventory is up nearly 8%
     Average sales price is down almost 10%
The good news: The number of Homes sold is up 58% from 1 year ago

Current Absorption Rates:
(This is the number of homes sold per month divided into the current inventory)
      Nampa   7+ months                       Meridian  -6.5 months
      Caldwell   -7 months                      Boise  8+ months  
      Canyon County  7+ months            Ada County  -7.5 months
The good news: These absorption rates are down significantly as compared to 1 year ago.
(Each price range will have it's own absorption rate. Contact me for specific data for your home)

Distressed Properties: (Bank Owned and Idaho Short Sales)
                                         Active Inventory                 SOLD Inventory
Nampa                                    50%                                      67%       
Caldwell                                   49%                                      64%       
Canyon County                         47%                                      65%    
Meridian                                   39%                                      45%
Boise                                       34%                                      39%
Ada County                               36%                                      44%
The good news: Distressed properties are selling faster than coming onto the market

Get a complete copy of the  Mid-Year Idaho Real Estate Report