I was interested to see how the numbers for 2011 compare to those of 2010 for the real estate market in East Idaho.  When comparing 2Q 2010 to 2Q 2011 we expected to see a decline because of the tax credit that expired 1 year ago and boosted sales for the first half of 2010.  The first quarter of this year seemed very sluggish but things have picked up in the 2nd quarter and seem to be carrying over into the 3rd quarter. 

There are some great buys out there, most of those being foreclosed bank owned properties which made up 34% of the sales in 2Q 2011.  With the interest rates still at all time lows, it is a great time to take advantage of the buyers market before it turns into a sellers market.  Click here to search for bank owned properties.

It is difficult to see where our market currently is because of the tax credit that we are comparing to last year, the 3rd quarter of 2011 will give us a better indication of where we actually are, look for those numbers in October.

Residential Sale by County

1st Half 2010 vs 1st Half 2011

 

4/1/2010-

6/30/2011

 

4/1/2010-

6/30/2011

% Change

Fremont - Island Park, Ashton, St. Anthony

  Number Sold

36

30

▼ 17%

  Median Sales Price*

$149,200

$175,000

▲  15%

  Average Sold/List Price

93.98%

96.78%

▲    3%

  Average Days on Market

219

191

▼   13%

Madison - Rexburg, Sugar City

  Number Sold

35

29

▼  17%

  Median Sales Price*

$188,500

$155,000

▼  18%

  Average Sold/List Price

95.94%

95.21%

▼   0%

  Average Days on Market

146

89

▼ 39%

Jefferson - Rigby, Menan, Terreton, Ririe

  Number Sold

69

50

▼ 28%

  Median Sales Price*

$157,000

$143,000

▼   9%

  Average Sold/List Price

97.17%

95.47%

▼   2%

  Average Days on Market

119

96

▼ 19%

Bonneville - Ucon, Iona, Idaho Falls, Ammon, Swan Valley

  Number Sold

357

296

▼ 17%

  Median Sales Price*

$144,000

$130,000

▼ 10%

  Average Sold/List Price

96.90%

96.22%

▼     %

  Average Days on Market

98

112

▲  2%

Bingham - Blackfoot, Shelley, Firth

  Number Sold

98

54

▼ 45%

  Median Sales Price*

$124,610

$105,000

▼ 16%

  Average Sold/List Price

96.39%

94.98%

▼   1%

  Average Days on Market

100

172

▲  42%