Has the Boise Real Estate Market Stabilized?

Two Key Metrics that agents and industry professionals pay close attention to, especially in new construction are:

  1. Days on Market (DOM)
  2. Months of Inventory

How long does it take to sell a home? What are the median Days on the Market before a home goes pending? This helps establish expectations with sellers as well. We can share what DOM is for an area or a price point so that we can gauge how long it may take a client to sell. This also can help a client price their house based on their motivation.If they need to sell quicker, a lower price will find a buyer quicker.

The second one, Months of Inventory, is a math problem. It is the total homes for sale divided by DOM. If no more homes were listed starting today, how long would it be before we sold out of homes? Builders, in particular, pay attention to this stat. They do not want homes sitting on the market for months while they are paying interest.

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