Number of homes listed for sale in January 2019 increased for the first time since October 2014 on the year-over-year basis in Boise. It was up by 5.7 percent compared to January 2018.
Despite this uptick in existing inventory, closed sales were down 6.1% year-over-year. The number of closed sales that are even possible was limited due to the fact we’ve had fewer and fewer existing homes to sell each month compared to buyer demand.
Despite this recent rise in existing inventory, overall closed sales were down 6.1% year-over-year. Looking at the existing/resale segment specifically, sales were down 18.4% from a year ago. The number of closed sales was hampered by the fact that there have been fewer and fewer existing homes to sell each month compared to buyer demand for over four years.
In summary - Buyer demand for Boise real estate remains strong and it outweighs the inventory of available homes.
Please contact Krystyna Ryan at (208)918-5007 with any questions, current listings and/or your home evaluation in today's market.