Although there have been similar high’s and lows in real estate sales in Eagle through the past three years, there has been a consistent increase in sales within those expected ups and downs. As you can see in the graph above, there were 39 traditional home sales in December of ’13, a 44% increase since ’12. As you can see, December of 2012 also showed a 50% increase from the year prior; equaling an 84% increase in sales in just two years.
The most dramatic increase in traditional home sale numbers we saw in 2013 were seen in July- 68 homes sold, a 119% increase from July of 2012. Summer was hot for real estate- which was bound to drop slightly. However the rest of the year still had consistent increases in numbers each month compared to 2012.
New home sales also increased throughout 2013; the year started with 3 new home sales in January, but ended in December with 14. On average, 32% of home sales were new and 68% were existing in 2013. As you can see however, the proportion was even in December when 50% of the home sales were new. This proportion seems even bigger when considering only 10% of home sales were new in January.
The highest peak we saw for new home sales for 2013 was in July, 28 new homes were sold (39% of home sales that month). Historically the warmer months tend to increase real estate sales, and the colder months (along with different factors such as the school year and holiday season) seem to encourage some potential buyers to wait.
The graph below gives us a clear picture of the proportion of short sales and bank owned homes vs. non foreclosures sold each month. Eagle has the lowest foreclosure rate in Ada county, this low proportion is reflected in the graph below. For example, in December of 2013, there was 1 short sale, 2 bank owned, and 39 non foreclosure sold. That means 93% of sales were traditional, 2% short sales, and 5% were bank owned.
You can see that throughout the entire year those numbers really only varied slightly. The highest foreclosure rate was in March when 7 bank owned homes sold, and 3 short sale homes sold. This means 23% of home sales were foreclosures; the highest we saw all year. The average foreclosure rate in Eagle, 2013 was 10.2% of sales, a 9.5% drop from 2012. The average foreclosure rate in 2012 was 19.7%.