Upper Valley Idaho Inventory Report
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Jefferson, Madison & Fremont County Housing Inventory Analysis As of July 30, 2009
Price Range
Homes Sold Past Year
On Market Today
Months of 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
806
19.8
Overall 489 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.
Price Range
Homes Sold Past Year
On Market Today
Months of 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
806
19.8
Overall 489 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.
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