1st Qtr 2009

April 2009

Southeast Idaho

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 increase in March as buyers took advantage of the new up to $8,000 first-time buyer tax credit. Plus, interest rates are in the 4.5-5.0% range – a level not seen in 40+ years.

County

1/1/2008 3/31/2008 Activity

1/1/2009 3/31/2009 Activity

% Change

Fremont - Island Park, Ashton, St. Anthony* Number Sold Average Sales Price Average Sold/List Price

Each price range is different. Most market activity is in the sub-$200,000 range. In contrast, upper-end homes are being pinched sharply by high inventories, relatively soft sales and far fewer move-ins.

Average Days on Market

16

16

0.00%

$387,513

$159,820

-58.76%

90.07%

92.48%

0.85%

145

113

-22.07%

Madison - Sugar City, Rexburg Number Sold Average Sales Price Average Sold/List Price Average Days on Market

41

28

-31.71%

$170,615

$204,037

19.59%

99.25%

97.24%

-2.03%

117

194

65.81%

Jefferson - Terreton, Menan, Rigby, Ririe

Foreclosure & short sales are about 1520% of all local sales. Nationally, the equivalent number is about 50%.

Number Sold Average Sales Price Average Sold/List Price Average Days on Market

57

38

-33.33%

$201,933

$163,347

-19.11%

98.51%

94.44%

-4.13%

110

149

35.45%

Bonneville - Ucon, Iona, Idaho Falls, Ammon, Swan Valley Number Sold Average Sales Price Average Sold/List Price Average Days on Market

289

180

-37.72%

$165,223

$166,985

1.07%

98.76%

96.45%

-2.34%

103

136

32.04%

Bingham - Shelley, Firth, Blackfoot, Fort Hall Number Sold Average Sales Price

Southeast Idaho’s Real Estate LeaderK

Average Sold/List Price Average Days on Market

73

39

-46.58%

$147,900

$137,018

-7.36%

97.15%

95.86%

-1.33%

107

123

10.19%

Source: Snake River Regional MLS database

The GOLD Standard SM

859 S. Yellow stone #802, Rexburg (208) 356-0588 or (800) 807-0588 w w w .Rexburghomes.com

400 W . Sunnyside, Idaho Falls (208) 524-2121 or (800) 255-1747 w w w .IFhomes.com

*

Heavily influenced by Island Park recreational sales

First-Time Buyer Tax Credit Only available through November 30 th, the $8,000 in cash credit is for buyers who haven’t owned a home in the previous three years and can be used for a down payment through IHFA. If the buyer stays three years, there is no repayment.

Named one of the top 500 U.S. real estate companies. Source: RISMedia in 2007 & 2008