4th Qtr 2008

January 2009

Southeast Idaho

Local Real Estate Information Sales Soft Locally

Residential Sales by County Fourth Quarter 2007 versus Fourth Quarter 2008

Local home sales were hit hard in the 4th Quarter of 2009 by the decline in consumer confidence triggered by the international financial meltdown.

County

10/1/2007 12/31/2007 Activity

10/1/2008 1231/2008 Activity

% Change

Fremont - Island Park, Ashton, St. Anthony* Number Sold

Fewer properties were sold up and down the Upper Valley. Prices fell particularly hard in Jefferson & Bingham Counties. Madison, Fremont and Bonneville prices were essentially flat. But, high end homes suffered everywhere from big inventories.

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

41

32

-21.95%

$184,680

$199,502

8.03%

97.74%

92.44%

0.85%

117

129

10.26%

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

Going forward, a key issue will be what forms of housing incentive are implemented by President Obama & the new Congress.

66

43

-34.85%

$166,383

$167,368

0.59%

98.04%

98.47%

0.44%

140

149

6.43%

Jefferson - Terreton, Menan, Rigby, Ririe Number Sold Average Sales Price Average Sold/List Price Average Days on Market

65

45

-30.77%

$180,147

$163,990

-8.97%

97.46%

96.41%

-1.08%

85

126

48.24%

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

336

213

-36.61%

$176,618

$174,487

-1.21%

98.37%

96.71%

-1.69%

96

105

9.38%

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

78

56

-28.21%

$146,515

$134,621

-8.12%

97.32%

96.84%

-0.49%

105

80

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

New First-Time Buyer Tax Credit Under the new housing bill passed by Congress, first-time buyers who buy by June 30, 2009 are entitled to a refundable tax credit of 10% of their purchase price up to $7,500. For more information, go to SoutheastIdahoHomes.com.

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