Jefferson, Madison & Fremont County

Housing Inventory Analysis

As of July 30, 2009

Price Range Homes Sold On Market Months of

Past Year Today Inventory
$0-$99,999 68 72 12.7
$100,000-$199,999 268 286 12.8
$200,000-$299,999 111 197 21.3
$300,000-$399,999 19 112 70.7
$400,000-$499,999 7 49 84.0
$500,000-$599,999 11 40 43.6
$600,000-$699,999 1 12 144.0
$700,000-$799,999 0 6 Unknown
$800,000+ 4 32 96.0
Overall 489 806 19.8
Source: Snake River MLS database

Analysis

Today, 806 homes are for sale in the Upper Snake River Valley counties of Jefferson,
Madison & Fremont. 489 homes have sold in the last 12 months. At that sales level, it
would take 19.8 months to sell all the homes now on the market. As a point of
comparison, current inventories nationally are 9.4 months and Bonneville County has
12.8 months of inventory.

A closer scrutiny of the data is even more revealing. Simply put, inventories are fairly
moderate for lower priced homes and excessive for higher priced properties. For
instance, homes priced between $100,000 and $199,999 are competing against 12.8
months of inventory. In contrast, there is 70.7 months of inventory for homes priced
between $300,000 and $399,999.

Why the skewing towards the lower end? Several factors are at play. First, much of
the market activity is by first-time buyers motivated by the $8,000 federal tax credit.
Second, far fewer folks are relocating to our area from higher priced markets.