What’s Going on in the Market Right Now?

Idaho Falls Real Estate Video Blog with Shawn Anderson

Our market has slowed down a tad, but that’s only because there are so few homes for sale and such high demand.

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We’ve got another great market update for you. We’re still in a good market, but the big challenge is our limited inventory. At the end of last week, we only had 181 homes on the market, which is a severe shortage. Even just a few years ago, we had four times as many homes for sale.

Because of this limited inventory, first-time buyers are having a tough time and sales are lagging just a little bit. However, it’s still a good market with good opportunities for both buyers and sellers.

If you're looking to sell your home right now, we have 13 agents working with multiple buyers in multiple price ranges. Selling is easy in this market because there are plenty of people looking to buy.

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February is actually one of the better months to sell.

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Some people think it might be a little too early to get on the market, but bucking the trend and listing now makes it easier for your home to stand out. I think February is actually one of the better months to list because buyers are looking and most sellers are waiting. The average days on market right now is just 38.

We don’t know what the next 12 months will look like for sure, but I don’t see any economic indicators for a massive slowdown. We will see a bit of a slowdown just because of the limited inventory, but there’s still plenty of demand. Values won’t drop like they did in 2008. When you couple this with rising interest rates, it means this market is a whole lot more stable than what we’ve seen in the past.

If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. I look forward to hearing from you soon.