Meridian Idaho Real Estate: Chasing the Market
The Meridian Real Estate Market is soft. Buyers are investing in Meridian homes based on price. Its reality. Here’s a market snapshot:
This is a Meridian Resale Homes Market Analysis for the following criteria:
Lets consider single family homes, minimum 3 bdrms 2 baths 3 car garage, Age: 1 to 5 years old in NW Meridian with 1,800 to 2,500 sq.ft.
Available Meridian ID Homes: 88
Average Price: $263,504
Average Price per Square Foot: $119
Pending Meridian ID Homes: 12
Average Price: $241,529
Average Price per Square Foot: $113
Sold Meridian ID Homes Since January 1, 2008: 21
Average Original List Price: $245,609
Average Sold Price: $240,326
Average Price per Square Foot: $112
Average Sold Price per Square Foot: $110
Do You See the Trend??
The Meridian ID foreclosures and Meridian short sales are really dictating what is actually selling in this market. It looks like some of the Meridian Idaho homes available are overpriced. The homes that actually sell are priced at around $112 per square foot (on average) and are sold for $110 per sq.ft. (on average).
You can brag all you want about how your home is way better than the short sale next door, but if you aren’t priced comparably, chances are - the short sale will sell first. And that’s exactly what’s happening. If you really want to sell your home, you have to be competitive.
Tags: Meridian ID foreclosures, Meridian ID Homes, Meridian Idaho Homes, Meridian Idaho Real Estate, Meridian Real Estate Market, Meridian Short Sales, Meriidan Resale Homes