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    1st QTR 2009

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    lukestallings
    Local real estate activity in southeast Idaho increased in March 2009 compared to the previous year, likely due to a new $8,000 tax credit for first-time home buyers and interest rates between 4.5-5%. Home sales and prices varied between counties. While most activity was in the sub-$200,000 range, upper-end homes faced declining sales and high inventory. Foreclosures and short sales made up 15-20% of local sales, lower than the national rate of 50%.

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    1st QTR 2009

    Uploaded by

    lukestallings
    14 views1 page
    Local real estate activity in southeast Idaho increased in March 2009 compared to the previous year, likely due to a new $8,000 tax credit for first-time home buyers and interest rates between 4.5-5%. Home sales and prices varied between counties. While most activity was in the sub-$200,000 range, upper-end homes faced declining sales and high inventory. Foreclosures and short sales made up 15-20% of local sales, lower than the national rate of 50%.

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    1st qtr 2009

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    Local real estate activity in southeast Idaho increased in March 2009 compared to the previous year, likely due to a new $8,000 tax credit for first-time home buyers and interest rates between 4.5-5%. Home sales and prices varied between counties. While most activity was in the sub-$200,000 range, upper-end homes faced declining sales and high inventory. Foreclosures and short sales made up 15-20% of local sales, lower than the national rate of 50%.

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    14 views1 page

    1st QTR 2009

    Uploaded by

    lukestallings
    Local real estate activity in southeast Idaho increased in March 2009 compared to the previous year, likely due to a new $8,000 tax credit for first-time home buyers and interest rates between 4.5-5%. Home sales and prices varied between counties. While most activity was in the sub-$200,000 range, upper-end homes faced declining sales and high inventory. Foreclosures and short sales made up 15-20% of local sales, lower than the national rate of 50%.

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    of 1

    Southeast Idaho April 2009

    Local Real Estate Information


    Local Market Stirs Residential Sales by County
    First Quarter of 2008 versus First Quarter of 2009
    Spring sales started to show a marked
    County 1/1/2008 - 1/1/2009 - % Change
    increase in March as buyers took 3/31/2008 3/31/2009
    advantage of the new up to $8,000 Activity Activity

    first-time buyer tax credit. Plus, interest Fremont - Island Park, Ashton, St. Anthony*
    rates are in the 4.5-5.0% range – a Number Sold 16 16 0.00%
    level not seen in 40+ years. Average Sales Price $387,513 $159,820 -58.76%
    Average Sold/List Price 90.07% 92.48% 0.85%
    Each price range is different. Most Average Days on Market 145 113 -22.07%
    market activity is in the sub-$200,000
    Madison - Sugar City, Rexburg
    range. In contrast, upper-end homes
    Number Sold 41 28 -31.71%
    are being pinched sharply by high
    Average Sales Price $170,615 $204,037 19.59%
    inventories, relatively soft sales and far
    Average Sold/List Price 99.25% 97.24% -2.03%
    fewer move-ins.
    Average Days on Market 117 194 65.81%
    Jefferson - Terreton, Menan, Rigby, Ririe
    Foreclosure & short sales are about 15-
    20% of all local sales. Nationally, the Number Sold 57 38 -33.33%

    equivalent number is about 50%. Average Sales Price $201,933 $163,347 -19.11%

    Average Sold/List Price 98.51% 94.44% -4.13%


    Average Days on Market 110 149 35.45%
    Bonneville - Ucon, Iona, Idaho Falls, Ammon, Swan Valley
    Number Sold 289 180 -37.72%
    Average Sales Price $165,223 $166,985 1.07%

    Average Sold/List Price 98.76% 96.45% -2.34%


    Average Days on Market 103 136 32.04%
    Bingham - Shelley, Firth, Blackfoot, Fort Hall
    Number Sold 73 39 -46.58%
    Average Sales Price $147,900 $137,018 -7.36%
    Southeast Idaho’s Average Sold/List Price 97.15% 95.86% -1.33%

    Real Estate LeaderK Average Days on Market 107 123 10.19%


    Source: Snake River Regional MLS database
    Heavily influenced by Island Park recreational sales
    The GOLD Standard SM *

    859 S. Yellow stone #802, Rexburg


    First-Time Buyer Tax Credit
    (208) 356-0588 or (800) 807-0588 Only available through November 30 th, the $8,000
    w w w .Rexburghomes.com in cash credit is for buyers who haven’t owned a
    home in the previous three years and can be used
    400 W . Sunnyside, Idaho Falls for a down payment through IHFA. If the buyer
    (208) 524-2121 or (800) 255-1747
    w w w .IFhomes.com
    stays three years, there is no repayment.

    Named one of the top 500 U.S. real estate companies.


    Source: RISMedia in 2007 & 2008

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