Meridian Idaho Home Values

2022 Real Estate Report

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When people think of Meridian, they probably think of shopping & restaurants at The Village, Wahooz & Roaring Springs and Settlers Park. All fantastic attractions, and all part of what makes living in popular and fun. There is so much to do across the valley but Meridian may have more to do per square block than anywhere else which is one reason Meridian ID home values are increasing rapidly. The leadership of the City of Meridian has done a great job of creating a family and business-friendly community and therefore demand for more homes is high.

 

Meridian Idaho Real Estate Market Snapshot

There are three leading indicators of a changing market that real estate agents pay close attention to:

  1. Price Increases. Meaning the # of homes listed for sale that actually increased the price of the home.
  2. Inventory
  3. Average Days on Market

The following report is about listings, which is about what is happening in the market currently. It is a real estate report that can more quickly identify future trends in the local real estate market.

Meridian Idaho Real Estate Report

 

How are Meridian home values changing?

Real estate is seasonal and cyclical so it is best to review charts with more data so you can see a more complete story and trends over longer periods of time.  Home values normally are strongest during the home buying season which is the hottest in Spring and Summer. CoVid has disrupted what we would expect as normal trends. Also, the number of people leaving California and large cities in the northwest has made the market more year-round. 

Meridian Idaho Home Values Chart

 

How many homes are for sale?
What does the inventory of homes for sale look like currently? How many homes are there for sale? Read current Meridian Real Estate Market Report.

Meridian Inventory of Listed Homes

 

Review history of Meridian HomeVAlues-
The chartx below track how home values have changed over the last 16 years comparing NEW to EXISTING Median Quarterly Home Values since 2005. These trend lines also display the growth of the Meridian area. Meridian is divided into two separate areas, north and south of the freeway.

 

South Meridian Home Values trends chart-

2022 South Meridian Idaho Home Value Trends

North Meridian Home Values trends chart-

2022 North Meridian Idaho Home Value Trends

Meridian Idaho is considered the center of Treasure Valley and offers some of the most diverse housing from fourplexes to custom homes in luxury communities. This would also indicate that Meridian has the most diverse income levels of the valley population. As these charts indicate, Meridian home values have had large peaks and valleys in average home values across Meridian. Home Values in Meridian are on the rise and with diverse new communities and an array of existing homes for sale, Meridian real estate is very active.

 

 

How have Meridian Home Values Changed Year-Over-Year?

North Meridian:

  Median Prices %∆ Year-Over-Year Total Homes Sold %∆ Year-Over-Year
2021 $500,000 +35.14% 2,400 -10.95%
2020 $370,000 +12.84% 2,695 +4.47%
2019 $327,990 +10.47% 2,587 +4.95%
2018 $296,900 +14.24% 2,465 -0.76%
2017 $259,900 +8.29% 2,484 11.94%

 

South Meridian:

  Median Prices %∆ Year-Over-Year Total Homes Sold %∆ Year-Over-Year
2021 $569,995 +34.12% 746 -35.86%
2020 $425,000 +12.89% 1,163 +42.18%
2019 $376,500 +2.73% 818 +1.49%
2018 $366,500 +18.23% 806 +4.00%
2017 $309,999 +9.79% 775 +3.20%
*source Intermountain MLS

 

 

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