Happy New Year!  I hope that you had a great holiday season and I wish you the best for 2014.  As a full time real estate agent I am often asked the question "how is the real estate market?"  I hope to answer that question for you today and provide you with some key statistics that may help you with your real estate plans in 2014. 

Overall the East Idaho Real estate market improved by 6% over the 2012 number of homes sold.  I beleive the increase is a healthy growth rate that is still being fueled by great interest rates and a good inventory of property.  Jefferson County (Rigby) was the county with the biggest jump in activity with a 20% increase.  The days on market was also slightly down overall with the exception of Bonneville County (Idaho Falls) was down nearly 50 for days on market.

Madison County has a lot going on right now.  There are large scale apartment complexes being built through the city of Rexburg.  The need for apartments is being fueled with the growth of BYU-Idaho.  It is confusing so some why the number of homes being sold actually dropped in 2013 vs 2012.  My explanation for this is more of a lack of supply than it is lack of desire to live in Rexburg.  There are a shortage of building lots that appeal to builders that are hoping to build any type of spec house, most pricing is too high to be able to make numbers work and as a result they build in Rigby or maybe stay in the greater Idaho Falls area.   If you are a home owner in the Rexburg area and have thought of selling your home, now may be a good time to consider listing your home.

For a printable version of this spreadsheet click here