There are 5,476 properties on the market, 2,886 of which are residential homes. The inventory is slowing moving upwards as is typical for the early spring market.
We've already started to see an increase in prices from all sectors including existing homes and new construction. Pretty much the best time to buy and sell is right now. It's the 'equilibrium' point in the market.
For buyers, prices are only going to rise. Inventory will increase, giving you more options (as long as your price range is not at the entry level as entry level prices are increasing) to choose from. Prices will also increase.
For sellers, with increasing inventory levels, the competition gets stiffer, making it take longer and longer to sell your home, unless of course you lower the listing price.
All in all, 2007 is shaping up to be a great year for real estate.
Jarvis:
Thank you for commenting. I wrote the comment above, based on facts and figures and historical analysis of the market. I am wondering though, where you are finding me to be the "biggest flaming cheerleader on the net". The only place I provide commentary on our local real estate market is right here, on this blog.
Please do share with me why you "cant take anything you say seriously" specifically pointing to anything I've said that would cause you to feel this way. Tell me why. How am I wrong? Did I have inaccurate information? I definitely want to correct anything I am providing that is not factual and accurate.
The entire point of this blog is to provide the facts, with commentary based upon evidence, not 'gut opinions'. I know I've done so and I know my analysis are right now, just by watching how the market has been going.
If you are speaking of markets other than specifically Kootenai County Idaho, you've got the wrong person. I do not research or make commentary on any other real estate market other than the one that I work in and buy/sell in.