Meridian Idaho 

Named for the prime meridian from which the Idaho territory was originally surveyed, Meridian is centrally located in the Boise Metro area and it's half a million people. Meridian has recently been named one of the best places in the USA to raise a family. The central location makes it attractive for people looking for convenience in shopping, freeway access and drive-times to work and recreation anywhere in the metro area. 

Meridian has about 140,000 population today and has been growing by 3.25% a year since 2020. No surprise new construction dominates the housing market here.   

If you're visiting, don't miss Roaring Springs Waterpark, Yahoos, Meridian Speedway and the Village Shopping Center. Along Eagle and Fairview roads there are a plethora of shops and restaurants.

Meridian real estate is different than Boise's. Meridian was at one time the fastest growing city in the nation and tripled in size in just a short time. Hence, most of the housing stock in Meridian is less than 20 years old. 

The housing market has been tight in Meridian for over a decade. As a result, home prices have climbed quickly but appreciation rates are moderating toward normal again. Existing homes price mid-year average $616,556 median $530,000. On homes sold last month market times averaged 20 days, median 8. Half sold in a week! 

This chart illustrates the velocity of listings and contract signings in Meridian on all single-family homes including existing homes and new construction. The current housing supply based on the pace of sales stands at 1.37 months. Very far from a balanced market with 5-6 months inventory and where prices would be expected to be stable or slowly rising.

This pie chart shows the breakdown of homes for sale in Meridian. Regular sellers of existing homes make up 53% of available inventory, while new construction accounts for 47%. Only 1 foreclosed home and zero short sales thanks to a strong economy and rising home prices.

Meridian's long-term trends in housing are similar to Boise, but with more new construction by percentage. Regular sellers of existing homes are trending upward each year since cratering during covid and spiking after interest rates jumped in 2022. New construction peaked at an all-time high last winter, but builders moved a lot of inventory this spring and are ramping up again with many more homes under construction in Meridian. Great time to consider new construction here. Ask me which builders are best and offering big incentives. 

For more info on the Boise Metro housing markets and home prices, see my Market Monitor updated monthly.

Call or text me with questions about Meridian, for good local lenders or help finding available homes for sale that meet your criteria.