Go Idaho Team @ Exp Realty (208) 547-6408 or goidahoteam@goingidaho.com
Meridian, ID 83642
Single-Family Homes
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Meridian, ID 83642
Tue Jun 06 2023
This week the median list price for Meridian, ID 83642 is $645,000 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has increased to 149.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $645,000 | |
| Median Price of New Listings | $654,900 | |
| Per Square Foot | $283 | |
| Average Days on Market | 70 | |
| Median Days on Market | 35 | |
| Price Decreased | 34% | |
| Price Increased | 4% | |
| Relisted | 12% | |
| Inventory | 149 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,150,000 | 3,442 | 0.25 - 0.5 acre | 5 | 4 | 4 | 5 | 5 | 91 |
| $699,900 | 2,578 | 6,500 - 8,000 sqft | 4 | 3 | 1 | 6 | 7 | 35 |
| $598,900 | 2,160 | 6,500 - 8,000 sqft | 3 | 3 | 1 | 4 | 5 | 35 |
| $489,945 | 1,830 | 4,500 - 6,500 sqft | 3 | 3 | 4 | 5 | 8 | 17 |