MOUNTAIN HOME IDAHO REAL ESTATE MARKET CONDITIONS
(As of 7/3/08 - Updated Every Two Weeks)

Sales Activity and Value Trends   The early Summer buying season continues with increases in both the number of homes on the market and homes under contract.  

The six month median sales price for existing homes increased to $157,000 while the new home median price dropped slightly to $166,700.  The continuing fall in the median new home price is primarily the result of a national and market shift to smaller homes with fewer upgrades and not because builders are lowering their prices on existing inventory.

Inventory  Inventory jumped by nearly 5% over the past four weeks due to, in large part, the addition of several spec (i.e. not under contract when construction begins) homes by local builders.  Demand - indicated by the number of new and pending sales - has grown since the last reporting period.  

Marketing Time The median marketing time for existing homes remains steady at about 73 days but it's important to remember that marketing times vary considerably among price and age ranges. Foreclosure Activity  A major factor in the difficulties that many markets are currently experiencing is the huge number of foreclosures resulting from subprime and adjustable rate mortgages.  As buyers default, lender owned homes are dumped on those markets and a value death spiral begins. Fortunately, the predominate use of VA financing in Mountain Home resulted in few high risk loans being made.

Remember "All Real Estate is Local" and changes in value are based entirely on local market conditions.  What's happening in either Sacramento (bad) or Salt Lake (good) is not what you can expect in Mountain Home.

Opportunities  Contact Us to learn about the best values available in the Mountain Home Idaho real estate market and for general market updates.