The Real Estate market in East Idaho is off to a great start in 2012.  Our local market has been gaining ground since last summer and has continued to move in a positive direction for the first time in 4 years.

​As posted in my year end numbers on the January blog post, Rexburg was up nearly 20% when comparing homes sold in 2011 vs 2010.  When comparing the months of January and February of 2012 vs Jan.-Feb. 2011 Madison county was up significantly, nearly 44%.  Buyer seem to be feeling more comfortable and willing to get back into the real estate market.   Overall 2012 is up 28% in the first 2 months compared to the same period last year.  

​The percentage of distressed properties have dropped slightly so far in 2012 to 39% of our total sales.  That number was as high as 48% in the middle of 2011.  Just for clarification, when I refer to distressed properties I am talking about bank owned and short sale properties.  They may be in good or bad condition but all are referred to distressed properties.

Overall, things seem like they may have turned the corner.  The demand for homes and real estate in East Idaho seems to be increasing and our inventory seems to be stable.  With record low interest rates and great prices on a lot of real estate, now is the time to make the move.