Market update provided by Jim Paulson, Broker-Owner of Progressive Realty Corp in Meridian, Idaho.
Inventory is dropping even though historically it is still too high. We have over nine months of available inventory based on current sales levels.
Many homes in Meridian, Idaho are sitting stagnant on the market because home sellers have refused to price them at realistic prices. If you look at the raw numbers from the MLS it is easy to see why some homes are selling and some aren’t!
Listings under contract
Listings sold in Sept.
These numbers illustrate what a few people have been saying on this website for a year – we need more affordable homes since that is what is selling. When you look at the median price of all the homes that sold in Meridian last month, you get $215,000. If you don’t like that number look at the average and you get Continue reading this post