Whereas total Meridian ID real estate sales for 2011 exceeded 2010 sales, total foreclosures (short sales, bank-owned and HUD properties) were lower in 2011.  Total foreclosures for 2010 were 849, or almost 51% of total Meridian Idaho home sales.  Total foreclosures for 2011 were 730, approximately 41% of total home sales.  As shown on the graph below, 2011 foreclosures dropped from a high of 65% in March to 49.6% in December, much lower than the 66.2% recorded in December 2010.

As shown in the graph below, 2011 median home prices were also lower than 2010 for most of the year.  However, whereas December 2010 posted the lowest median home price of the year at $145,000, December 2011 posted the highest at $169,495.

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About 52% of the Meridian real estate sales were foreclosure properties (short sale or bank-owned) last month.  The next graph shows the market share of foreclosures in Meridian since Jan ’10.

The following graph is a more detailed look at how these percentages are formed.  As you can see, bank-owned homes account for the majority of the foreclosure sales.  You can also see that the lower market share of foreclosures in April-June was largely due to an increase in non-foreclosure sales.

Out of the 187 sales in the Meridian, ID Real Estate market, 110 were non-foreclosures, 44 were bank-owned, and 33 were Meridian short sales.  The bank owned and short sales made up 41.2% of the overall Meridian Real Estate market, up significantly from June and July as shown in the following graph:

When broken down by area, NW Meridian continues to be where the majority of houses are purchased, with 94 sold in August compared with 51 in NE Meridian, 25 in SE Meridian, and 6 in SW Meridian.  All but SW Meridian showed a jump in sales in August compared to the previous month, as the following graph shows:

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Data Source: Boise MLS (IMLS). Information deemed reliable but not guaranteed.

The graph below shows the breakdown of non-distressed, bank-owned, and short sales in the Meridian real estate market over the last 4 months.

The average home sold price in Meridian was $190,644, and the median home sold price was $178, 200.
The majority of homes selling in Meridian are in the North West area of town as you can see in the graph below. NW Meridian accounted for 56% of home sales, while the smallest market share is comprised in SW Meridian at 5%

Data Source: Boise MLS (IMLS). Information deemed reliable but not guaranteed.

Data Source: IMLS. Information not guaranteed.

Data Source: IMLS.  Information not guaranteed.