Home sales in the Meridian ID real estate market have been fairly strong for the first half of 2012. Although 2012 total home sales in Meridian Idaho dipped below both the 2010 and 2011 levels in January, they started to rebound in February. The Meridian Idaho real estate market finished the 1st half of 2012 with the highest monthly total sales for the year-to-date of 181, slightly ahead of the 178 sales in May, but just below the 182 sales recorded in June 2010.
What is interesting to note is the distribution of sale types comprising these totals. As can be seen in the graph below, as the year progressed non-foreclosure sales have been making up a larger portion of total sales in the Meridian ID real estate market than foreclosures and short sales. For example, in January 2012, there were 104 total sales, of which only 45 were non-foreclosures, less than half of total sales for the month. Jumping ahead to June, there were 208 total sales, of which 137 were non-foreclosures. This represents a 65.8% market share. In fact, for February through June there were more non-foreclosure sales of Meridian Idaho real estate than bank-owned and short sales combined.
This decrease in foreclosure sales is further illustrated below. Generally, the market share of Meridian Idaho foreclosures for 2010 and 2011 ranged between 40% and 70%. However, the foreclosure market share for the first half of 2012 ranged from a high of 45.8% in January to a low of 24.3% in June.