What activity is transpiring in the Boise Valley Real Estate Market during the COVID-19 stay-at-home order?

April 22, 2020 joshharbst No comments exist

See video here!

Search Homes Here!

Free Home Search App HERE!

Hi, this is Josh with Genesis Real Estate. Thank you for watching my video. I have missed making videos with this stay-at-home order. But obviously we need to do what we need to do. I hope you all are staying safe with your families at home as well. The main question I’m getting asked is, “What is the real estate market doing while we’re shut down?” I can tell you we’re taking it one day at a time. Things are changing every single day. We also have seen some buyers back away from deals. I’ve seen some sellers not bring their home to market yet, just you know closing it up and shutting down. but we are still remaining pretty active. So we take precautions when we’re showing property as well as when we’re listing property, to ensure social distancing occurs. As well. As you know, providing disinfectant at homes and things of that nature in between showings. So, there’s a lot that goes on with this Covid thing. So, I wanted to show you some numbers because people are wondering, “Hey, since the shutdown on the 25th of March in Idaho what has gone down?” So I’ve compiled the list here, Boise Valley real estate market during Covid-19. Notice it’s red because that’s bad. Right? We’ve got Ada County and Canyon County. In Ada, that we’ve closed 883 homes. And in Canyon 506. That’s not an accurate portrayal only because, these our deals that probably got entered into prior to the shutdown. However, all of these happened after the shutdown, which is the pendings meaning went from active to under contract. 729 in Ada and 382 in Canyon and then homes that have come to market during Covid. 834 in Ada and 322 and Canyon so people are still selling their homes and you can tell our inventory levels, our absorption rate. 1.7 months at Ada and 1.5 in Canyon which is still severely low. It means we still need more homes to add to our inventory in order to create more supply. It’s still very much in demand. So hopefully again quick shot at what’s happened during the covid shut down. Best wishes, stay safe, and I’ll see you on the next one.



Leave a Reply