Bonneville County Housing Inventory Analysis

Published On: July 30, 2009

On July 29, 2009, we took a close look at the housing inventories in Bonneville County.

Here is a chart that shows the results by price range:

 Price RangeHomes Sold
Past YearOn Market
TodayMonths of Inventory $0-$99,999 12898
 9.2 $100,000-$199,999 654 556 10.2 $200,000-$299,999 204 249 14.6 $300,000-$399,999 54 124 27.8 $400,000-$499,999 15 55 44.0 $500,000-$599,999 5 20 48.0 $600,000-$699,999 2 12 72.0 $700,000-$799,999 4 4 12.0 $800,000+ 1 20 240.0 Overall 1067 113812.8
Source: Snake River MLS database


Analysis

Today, 1138 homes are for sale in Bonneville County.  1067 homes have sold in the last 12 months.  At that sales level, it would take 12.8 months to sell all the homes now on the market.  As a point of comparison, current inventories nationally are 9.4 months.

A closer scrutiny of the data is even more revealing. Simply put, inventories are fairly moderate for lower priced homes and excessive for higher priced properties.  For instance, homes priced between $100,000 and $199,999 are competing against 10.2 months of inventory.  In contrast, there is 27.8 months of inventory for homes priced between $300,000 and $399,999.

Why the skewing towards the lower end?  Several factors are at play.  First, much of the market activity is by first-time buyers motivated by the $8,000 federal tax credit.  Second, far fewer folks are relocating to our area from higher priced markets.