I had to run some data for a fouplex report. Figured I would share the data.
Shows how mulit-units (duplex, Triplex, fourplex) change in dollar value over time for the City of Meridian, ID.
Experience tells me with this data type, it tends to LAG be the market by about 6 months. (Deals with when data is taken and the fact that EACH home is not meant to be bought and sold every year). I am more concerned with the TREND not the NUMBER.
I a perfect world, when supply tightens demand increases which causes a turning point on value. It's not one date, more of a range (few months or few years pending market). It fights to slow the drop, fights to stay stable, and then fights to increase in value.
I would say, in Meridian, they are fighting to increase in value. I'm wondering how much resistance we will see from the buyers and new construction.... only time will tell.
My guess...they are going up.
You may ask yourself...How do I make the above graph?
I find matched pairs in IMLS and determine the slope of the growth line. The data is below if you want to double check my math. Since I can't show the "SOLD PRICE" due to IMLS rules, I listed the MLS numbers and summary data for the sales.
MLS #
Type
Address
Closing Date
Change $
Days Between
Yearly Change
98311403
Fourplex
1045 W Pine Ave.
9/7/2007
98446496
11/5/2010
($158,000)
1,138
-12.1%
98079632
Duplex
120 W Broadway Ave
9/4/2001
98183172
2/1/2005
$21,000
1,227
4.0%
98070427
1401-1421 W Sandalwood Dr
6/21/2001
98219230
12/9/2005
$142,000
1,608
15.9%
98453248
1401-1421 W Sandalwood Dr.
7/14/2011
($165,000)
2,015
-8.7%
98163147
1478 W Sandalwood Dr
5/25/2004
98382510
2/11/2009
$23,600
1,696
2.3%
98113110
1578 Storey Ave
11/13/2002
98159466
3/24/2004
$9,200
491
4.3%
98279153
1805 E Overland Bldg 53
2/12/2007
98424312
4/30/2010
($182,500)
1,158
-14.0%
98244959
1805 E OVERLAND # 27
8/18/2006
98461824
3/4/2011
($185,000)
1,636
-9.7%
98228970
1805 E OVERLAND BLDG. #11
3/30/2006
98405966
11/15/2009
($157,000)
1,305
-10.6%
98229441
1805 E Overland Rd Bldg 19
2/13/2006
98400331
11/2/2009
($193,000)
1,339
-12.6%
98213927
1805 E Overland, Bldg #40
10/14/2005
98431556
7/13/2010
($175,000)
1,709
-9.2%
98244963
1805 E Overland Rd, Bldg 16
6/28/2006
98450502
1/27/2011
($190,000)
1,649
-9.9%
98141403
1903 E Wilson Lane
8/14/2003
98447013
9/27/2010
($55,000)
2,563
-2.7%
98122639
1905 E Wilson Lane
5/10/2004
98259456
8/21/2006
$109,400
821
16.9%
98122642
1927 E Wilson Lane
6/9/2004
98259465
$109,100
792
17.5%
98150757
1931 E Wilson Lane
12/30/2003
98225814
2/1/2006
$110,000
751
19.4%
98149012
1933 E Wilson Ln
11/11/2003
98244765
5/4/2006
$149,362
893
23.4%
98140104
1945 E Wilson Lane
7/19/2004
98259470
10/16/2006
807
17.2%
98122635
1951 E Wilson
4/21/2004
98347371
6/23/2008
$50,200
1,502
98283407
2028 N Gladewater Ave
3/30/2007
98439603
9/30/2010
($144,000)
1,260
-11.5%
98168661
2035 N Woodford Ave
8/16/2004
98268694
11/13/2006
$85,000
14.4%
98237725
2927-2939 W Marbeth Ct.
1/9/2007
98307553
8/13/2007
($1,080)
214
-0.4%
98245129
2979 & 2991 W Marbeth Court
6/13/2006
98433688
10/29/2010
($191,000)
1,576
98154623
34 E King
3/18/2004
98229728
34 King
1/18/2006
$103,000
660
20.9%
98404042
7/9/2009
98084373
41-53 SW 7th
10/23/2001
98180860
11/18/2004
$26,050
1,105
3.6%
98190305
417 W Idaho
2/16/2005
98220927
1/12/2006
$80,474
326
39.3%
98234811
428 E Idaho Avenue
2/28/2006
98329969
2/5/2008
$10,000
695
1.9%
98161241
428 E State Ave
6/15/2004
98292358
5/23/2007
$50,000
1,058
13.8%
98234815
438 E Idaho Avenue
2/27/2006
98274473
4/2/2007
$36,450
395
12.2%
98127236
508 E BROADWAY
4/21/2003
98214389
12/7/2005
$119,000
946
19.1%
98405894
7/21/2009
($135,000)
1,304
-10.5%
98059335
582-592 W Idaho Ave
5/8/2001
98143321
11/21/2003
$35,000
913
9.6%
98453028
1/14/2011
($22,800)
2,573
-1.8%
98185367
622 W Idaho
12/30/2004
98217941
11/23/2005
$82,000
323
36.3%
98174729
Triplex
623-627 Pine
10/11/2004
98291264
7/5/2007
$134,900
984
21.3%
98185372
642 W Idaho
98217940
10/28/2005
$80,000
298
38.4%
98271487
11/27/2006
($2,562)
389
-0.7%
98093178
702-724 W Seventh St
3/12/2002
98470687
10/17/2011
($40,000)
3,455
-2.2%
98150395
714 W Idaho
2/2/2004
98214302
11/30/2005
$75,150
658
18.4%
98136707
726-732 W Idaho
8/26/2003
98232716
3/23/2006
$95,000
927
17.1%
98377301
12/29/2008
($64,100)
996
-7.5%
98101181
814 W 8th St.
5/24/2002
98162882
6/14/2004
$42,500
740
11.4%
98222002
12/26/2005
$89,400
552
26.1%
98450172
1/31/2011
($169,000)
1,835
98153227
824 & 830 E Blue Heron
3/11/2004
98178274
1/31/2005
$25,900
320
13.3%
98237721
8/15/2006
$90,500
555
24.0%
How many are distress sales in Ada County?
2010 = 83% (134 of 165)
2011 = 55% (81 of 157)
2012 = ?
ADA COUNTY - MULITUNITS (per IMLS)
DISTRESS VS NON-DISTRESS
DISTRESS
NON-DISTRESS
TOTAL SALES
Count
Percent
2010
Jan
1
86.7%
2
Feb
8
73.7%
3
26.3%
11
Mar
13
93.5%
6.5%
14
Apr
73.4%
26.6%
May
79.7%
20.3%
9
Jun
19
95.4%
4.6%
21
Jul
89.0%
11.0%
Aug
69.9%
6
30.1%
Sep
12
73.1%
5
26.9%
17
Oct
89.3%
10.7%
Nov
82.9%
Dec
98.3%
1.7%
2010 Total
134
83.6%
31
16.4%
165
2011
15
76.5%
23.5%
20
61.9%
38.1%
51.4%
48.6%
52.4%
47.6%
7
69.1%
4
30.9%
73.9%
10
73.0%
27.0%
28.2%
71.8%
34.4%
65.6%
83.5%
16.5%
82.8%
43.0%
57.0%
2011 Total
81
55.2%
76
44.8%
157
2012
41.8%
58.2%
16
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