Wednesday, April 15, 2015

First quarter home sales up in Bonneville County

Home sales in Bonnville County jumped sharply in the first quarter of 2015, to a level not seen since the economic meltdown of 2008.

With 308 homes sold, sales were up 28.4 percent over the first three months of 2014. The average time it took for a home to sell dropped under 100, the first time since 1007, while new listings climbed to 535.

The median price of a Bonneville County home remained roughly where it has been since 2012, around $137,000. A median is the number at which half the homes on the market sold for more than that amount and half the homes sold for less. The average median price for the past 10 years was $140,658.

What would a home that bought for that price in 2006 be worth today? A little more, but not much, according to the Federal Housing Finance Agency's HPI Calculator. Going by sales in the Idaho Falls Metropolitan Statistical Area, a home that sold for $140,658 in the first quarter of 2006 would have been worth $143,694 at the beginning of 2015, a jump of 2.16 percent. That home's value would have peaked in the first quarter of 2008 at $164,130, then tumbled to a low of $137,711 in the second quarter of 2011.