Eagle Idaho: This Summer vs. Last Summer

Here’s an interesting comparison of Eagle, Idaho home sales for Summer 2013 vs. Summer 2014.

Eagle Idaho Homes: Available Listings

  • August 31, 2013: 286
  • August 31, 2014: 414
  • % Change: +44.8%

Eagle Idaho Homes: Pending Sales

  • August 31, 2013: 103
  • August 31, 2014: 108
  • % Change: +4.9%

Eagle Idaho Homes: Closed Sales

  • June – August, 2013: 74
  • June – August, 2014: 81
  • % Change: +9.5%

Eagle Idaho Homes: Average Sales Price

  • August 31, 2013: $399,062
  • August 31, 2014: $375,960
  • % Change: -5.8%

Eagle Idaho Homes: Median Sales Price

  • August 31, 2013: $363,650
  • August 31, 2014: $349,500
  • % Change: -3.9%

Takeaways

  • Eagle’s listing increased by a stunning 44.8% year-over-year., resulting in substantially more competition for sellers and many more choices for buyers.
  • Eagle’s pending sales increased by a modest 4.9% during our normally-busy summer selling season.
  • Eagle’s average and median sales prices both declined modestly.
  • Some of the numbers above are being influenced by strong activity in The Preserve, a new home subdivision in Eagle with lower price points.

 

Eagle Idaho Real Estate Stats – August 2014

Here’s a snapshot of August’s activity for Eagle, Idaho real estate:

Eagle Idaho Available Homes

  • # Available: 414
  • Average Asking Price: $522,459
  • Median Asking Price: $439,900
  • Months’ Supply: 6.3

Eagle Idaho Pending Sales

  • # Pending: 108
  • Average Asking Price: $400,351
  • Median Asking Price: $349,450

 Eagle Idaho Closed Sales – August 2013

  • # Closed: 76
  • Average Sales Price: $400,902
  • Median Sales Price: $363,650

 Eagle Idaho Closed Sales – August 2014

  • # Closed: 81
    % Change: +6.6%
  • Average Sales Price: $375,760
    % Change: -6.3%
  • Median Sales Price: $349,500
    % Change: -3.9%

Data taken from Intermountain MLS on 9/5/14 and pertains to Eagle, Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past six months.

 

Eagle Idaho Homes: State of the Market

Here’s a look at the current market for Eagle Idaho homes.

Eagle Idaho Homes: Available
  • # Available: 399
  • Average Asking Price: $529,418
  • Median Asking Price: $449,000
  • Months’ Supply: 7.0
Eagle Idaho Homes: Pending Sales
  • # Pending: 123
  • Average Asking Price: $396,774
  • Median Asking Price: $357,400
Eagle Idaho Homes: YTD Closed Sales
  • # Closed Sales: 380
  • Average Sales Price: $368,505
  • Median Sales Price: $330,635
Eagle Idaho Homes: Analysis
  • We have 32.1% more listing inventory now than we had one year ago.
  • We have 6.0% more pending sales than we had one year ago (due to more new homes selling).
  • We have 3.6% fewer YTD closed sales than we had one year ago.
  • We had 6.9% fewer closings in July 2014 vs. July 2013.
  • Higher listing inventory, combined with nearly level pending sales and fewer closed sales, is indicative of a slowing market.

Data pertains to Eagle Idaho single-family homes on lot or acreage.

Data does not include condo or town home properties.

Months’ supply = available listings divided by average monthly closed sales for the past six months.

Eagle Idaho Real Estate Stats – July 2014

Here’s a snapshot of July’s activity for Eagle, Idaho real estate:

Eagle Idaho Available Homes

  • # Available: 402
  • Average Asking Price: $526,492
  • Median Asking Price: $444,943
  • Months’ Supply: 7.0

Eagle Idaho Pending Sales

  • # Pending: 119
  • Average Asking Price: $408,691
  • Median Asking Price: $372,700

 Eagle Idaho Closed Sales – July 2013

  • # Closed: 84
  • Average Sales Price: $354,577
  • Median Sales Price: $331,350

 Eagle Idaho Closed Sales – July 2014

  • # Closed: 77
    % Change: -8.3%
  • Average Sales Price: $388,062
    % Change: +9.4%
  • Median Sales Price: $339,900
    % Change: +2.6%

Data taken from Intermountain MLS on 8/6/14 and pertains to Eagle, Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past six months.

 

Eagle, Idaho ~ High End Market Saturation

We have a lot of high-end homes for sale in Eagle, Idaho now.

In fact, there are 57 homes above $750,000 for sale in Eagle now.

More important is the fact that only 10 homes above $750,000 have closed year-to-date in Eagle.

That works out to an absorption rate of about 1.4 homes per month and 41 months’ supply of high-end listings.

That’s definitely a buyer’s market!

Data pertains to Eagle, Idaho single-family homes on lot or acreage. Data does not include condo or townhome properties.