NOTE: Find the latest housing market news for Boise at the blog.
Seems like everyone is interested in how the housing market is going to fair in 2011, and Boise is no exception. I’ve been getting a lot of questions from perspective buyers wondering if now is a good time to buy, or if they should wait. Obviously there is no one answer to that question, everyone’s situation is different. But the Intermountain MLS (IMLS) released the January 2011 market statistics and there was some positive news in there. You can view the Existing Homes Market Statistics for Ada County here.
We saw a sharp decrease in listings between October 2010, which had 3,216 active listings, and December 2010, which only had 2,212 active listings, in Ada County. Many expected January to continue this downward trend but it turned out January 2011 held pretty firm with 2,163 active listings in Ada County.
But what was really positive was pending sales in January jumped up to 568; way up from the pending sales we saw in December at 432. Obviously there is a lot to digest anytime you look at market statistics, but these two things are positive in my book.
If you look at particular MLS areas–or as I call them on my site, communities–you’ll also see that the Eagle, NW Boise, North Boise and NE Boise are seeing some upward pressure on prices! Obviously these are some of the most desirable areas of town, but this is positive news for everyone!
OK, more later. Sorry I’ve been slacking lately!