Homes for sale in Meridian Idaho this year is a hot commodity. According to the Intermountain Multiple Listing Service, Meridian, Idaho has already had a complete turnover of its residential inventory once this year and will likely turn it over again by the end of the year. Meridian homes for sale are not lasting more than 48 days on average these days and the average sales volume is $226,773. This is a 17.54% increase over the same time period one year ago.
The improved economy has been the biggest cause for this improvement. With unemployment numbers down folks are more confident in moving ahead with their home purchase plans. Lower interest rates are another cause for keeping buyers in the market place. Hence more buyers than inventory to choose from make it a “sellers market”. Another component in the mix is the very affordable prices. Good sized 4 bedroom 3 bathroom homes in Meridian Idaho priced very affordably. These three factors come together for a very “perfect storm” of sorts. This is the kind of storm that keeps homes for sale in Meridian moving into the hands of new and very happy buyers.
The balance between existing home sales and new construction has been in favor of new construction. While it is not a 50/50 ratio, it is still a dramatic improvement over 2012 numbers. When existing homes for sale in Meridian Idaho drops to a low 30 day turnover, new homes for sale in Meridian Idaho is the only option for more and more buyers.
Good news further is that this high activity has been felt in all areas of Meridian, Idaho. Homes for sale in Meridian Idaho were most active in the northwestern area of the city. With over 350 units the northwestern segment remains the most active segment. The northeast segment has been the next strongest at 203 homes sold.
All in all this has been a generous year for homes for sale in Meridian Idaho.
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