Just for kicks I ran a hot sheet on the Coeur d’Alene & Post Falls Real Estate Market for the past 24 hours. Here’s what happened:
- 58 new listings were put on the market
- 8 listings were cancelled
- 17 listings closed (recorded and changed hands)
- 7 listings expired
- 24 listings went pending (buyers and sellers came to terms and plan on closing)
- 3 listings were withdrawn
- 7 listings extended their listing contracts
- 1 listing went back on the market
- 28 listings had price changes
Looking at one 24-hour period in Coeur d’Alene & Post Falls doesn’t give us a true history or direction. However, it is interesting. Consider this:
- 3.4x more listings are being PUT on the market than are closing.
- For every listing closing, 1 is being taken off the market.
- 50% of listings are reducing their prices.
- Less than half of all listings are getting viable offers.
Even on a 24-hour hot sheet, one can see that it’s still imperative that you price your home perfectly so that it is one of the chosen homes to sell.
