Eagle ID Short Sales Stats | November 2012

Eagle ID short sales hit their lowest point this year during the month of November.  In fact, there was only one.  Still, monthly short sales in Eagle ID have typically ranged between 3 and 7 this year.  There’s also been a drop in short sales from one year ago.  And, while the chart below shows that a few months in 2012 actually posted higher numbers, the overall average for Eagle ID short sales per month this year has been 4.6.  In 2011 there was an average of 6.8 short sales each month (Dec. ’11 numbers included.)

Eagle ID Short Sales 2011 vs. 2012

While the foreclosure rate remained low in November (9.7%), Eagle ID short sales have been the more dominant type of distressed sale this year.  In the past 11 months, there have only been 25 Eagle bank-owned homes sold.  Short sales more than double that number this year.  Still, when comparing foreclosure rates year-over-year, the numbers are drastically different.  Last year, the foreclosure market share for November was 46.2%, making it 36.5% higher than Nov. 2012 numbers.

Eagle ID Real Estate Sales by Type 2012 Market Stats

While the numbers are negligible, most of the Eagle ID short sales this year were in the Brookwood subdivision.  There has been a total of 7.  Banbury Meadows, which has the second highest amount, has posted 5 short sales.  The short sale in Eagle ID from November was in the Lexington subdivision.  Lexington subdivision has now had 4 this year, making it the third highest total for short sales in a given subdivision.


Eagle Idaho Short Sales | Jan.-June 2012

The number of Eagle Idaho short sales stayed fairly consistent through the first half of 2012, generally averaging around 5-6 short sales per month, with a few fluctuations.  This is much lower than the average number of short sales in Eagle ID during the same time period in 2010 and 2011.

Eagle Sales Yr over YR_2012


During this same time period the number of bank-owned and HUD properties sold each month have been decreasing while, at the same time, total sales have been increasing.  As depicted below, Eagle Idaho short sales in June were 28.5% lower than January, and bank-owned and HUD properties sold in June were 66.7% lower.  However, total sales were 133% higher in June over January.

Eagle Home Sales by Type_June 2012


The result?  The Eagle Idaho foreclosure market share is at its lowest point in years.  At its highest point, the market share for foreclosures (Eagle Idaho bank-owned or REO) and pre-foreclosures (Eagle Idaho short sales) was 75% in January 2010. January 2011 saw a foreclosure rate of 70.6%; the foreclosure rate in January 2012 was 46.4%.  Since then, the foreclosure rate for 2012 has steadily declined to a low of 16.7% in June.

Eagle Foreclosure Rate June 2012