Idaho Real Estate Report for July 1, 2010

What’s happening in the Idaho Real Estate market?

Being in the middle of 2010 for the Idaho real estate industry is still 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 right now!

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:
                                         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

Contact Top Nampa Realtor, Don Wixom with RE/MAX Advantage at (208) 880-5039 or visit www.sellidaho.com