Where is the inventory?

Boise real estate agents are really feeling it. If we have buyers, we are struggling to find homes that fit their wish lists. When we locate the right home, we are confronted with multiple offer situations as everyone fights to make the best offer. It’s tough out there!

I decided to take a look at one area of town to see what the numbers are like. I chose the Boise Bench because it has a wide variety of home styles and prices. Currently, there are only 48 active single family homes for sale in that area. Only 48! Those homes range in price from $73,900 to $875,000. They have been on the market from new today up to 462 days, but most have been for sale less than a month. In the last month, 35 sold (closed) and only 20 new listings have come on market. At this rate, the inventory is going to get even tighter.

What does this mean for Boise buyers and sellers? It means buyers must be pre-qualified with a lender and working with an agent who is searching diligently for them. It means they need to be able to make quick decisions – not easy when considering such a large purchase – and it means they need to act fast.

Sellers in Boise that price their homes correctly and prepare them for a great showing will find that their homes sell quickly and they may receive multiple offers. They also may be able to sell their homes for more than they thought. I’d love to tell you what your home is worth.

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