What to expect regarding Boise Real Estate through the end of the 2010
Should you buy or sell real estate during the holidays? I always get this question this time of the year as people wonder what to do and to gauge the Boise real estate market. I do not claim to be able to accurately forecast the future, but I do continuously research the past and try to learn from it.
I just checked the Intermountain MLS and so far this month (November 1 - November 19th) there have been 457 residential listings in Ada County that have reported new offers on them (contingent or pending offers). That shows current sales that occurred that would not have occurred if these homes were taken off the market! It shows that there were 457 buyers that successfully negotiated offers on homes so far this month.
So far this month, we have had 335 homes successfully "close" in Ada County this month.
Historically, we have closed the following residential listings in Ada County:
If you are a buyer, why opt of of a market to miss the chance to buy more than a thousand homes that won't be on the market in February?
If you are a seller, why not take advantage of the fact that Inventory contracted again in October to 3,173. That’s the lowest our inventory has been since May ’06. Why wait for the spring market to compete with more homes? Last years closed transactions from November - January, imply that almost 43% of these homes will sell if no other homes come on the market.
As a result, I will actively be pursuing listing that expire with my competitors so that I can show the sellers why a though out marketing plan and the right exposure to both buyers and other Realtors will greatly increase the odds of them selling now verses in the spring!
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