Well the numbers are out!  That's right, the 1st Quarter numbers for the East Idaho Real Estate market are out.  To be honest I have been a little nervous to see what they looked like compared to the 1st Quarter of 2010I think we all expected there to be a sharp decline this year since we are comparing to last year when Buyers could still take advantage of the Federal Tax incentive of $8000.  As you can see by the chart below, some of the counties actually had an increase in the number of transactions, those counties include Jefferson County and Bingham Counties.  Bonneville County saw a sharp decline and Madison was also down for the 1st Quarter.

Of the properties that have sold in 2011, 42% were distressed properties which include bank owned properties and short sale properties.  The bank owned properties alone made up 31% of our total sales.  The distressed properties currently listed only make up 15% of our total market inventory.  The aggressive pricing by the banks explain the low number in inventory but high number of sales.

Sold Stats For East Idaho Counties for the 1st Quarter

 

 

1Q 2010

 

1Q 2011

 

% Change

Fremont - Island Park, Ashton, St. Anthony

  Number Sold

18

18

 0%

  Median Sales Price*

$155,500

$158,000

▲ 2%

  Average Sold/List Price

92.86%

93.92%

▲ 1%

  Average Days on Market

244

234

▼ 4%

Madison - Rexburg, Sugar City

  Number Sold

29

24

▼ 17%

  Median Sales Price*

$169,500

$145,950

▼14%

  Average Sold/List Price

97.97%

97.43%

▼ 1%

  Average Days on Market

172

147

▼ 15%

Jefferson - Rigby, Menan, Terreton, Ririe

  Number Sold

39

41

▲ 5%

  Median Sales Price*

$175,000

$144,900

▼ 18%

  Average Sold/List Price

98.91%

98.56%

 0%

  Average Days on Market

110

103

▼ 6%

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

  Number Sold

245

192

▼ 22%

  Median Sales Price*

$144,500

$135,000

▼ 7%

  Average Sold/List Price

96.92%

97.51%

▲ 1%

  Average Days on Market

118

112

▼ 5%

Bingham - Blackfoot, Shelley, Firth

  Number Sold

38

44

▲ 14%

  Median Sales Price*

$117,450

$117,775

0 %

  Average Sold/List Price

98.65%

97.48%

▼ 1%

  Average Days on Market

80

163

▲  51%

If you are a buyer, take advantage of some of the great buys on properties that we have not seen for years, click here to search for properties. 

If you are a seller in this challenging market, it is important that you employ an agent that understands the changing market and can help you price your home accordingly.  Click here to find out what your home is worth.