Our stunning lack of Boise real estate listings is finally affecting sales.
Buyers and their agents are struggling to find available homes with our current low listing inventory.
In real estate, a “balanced market” is generally considered to be six months’ supply of listings.
We currently have a 1.9 months’ supply of listings in the Boise real estate market (Ada County).
The Meridian real estate market also has a 1.9 months’ supply of listing inventory.
Resale home listings are nearly non-existent in some of our MLS areas.
I’ve personally experienced increased interest in offers contingent upon the sale of buyers’ homes with one of my listings.
That’s interesting, because few sellers will accept an offer that’s contingent upon the sale of another home.
One theory is that some buyers are reluctant to list their present home without having another home under contract.
My April statistics posts confirm that the number of closed sales has declined while prices continue to rise.
Simply stated, sales have declined because buyers can’t find what they want to buy.
During his 44 years of full-time real estate experience, Phil has helped thousands of past clients buy and sell quality properties in the Western U.S.
Phil is one of only ten local Realtors® (of nearly 5,500) honored with the coveted “Realtor® Emeritus” award from the National Association of Realtors®, recognizing 40 years in real estate.