BOISE HOME SALES GOING UP IN 2011
What is up lately? Starting in January every home under $100,000 we bid on had multiple offers. In March it seemed like every home under $150,000 had multiple offers. Now, we are in the $225,000 to $275,000 range….and guess what? Every “good to great” house here in the Treasure Valley has Multiple Offers. No one is more stunned than Buyers (who the media has conditioned are in the driver’s seat and will get a fire sale price) when they lose out on a home that they bid more than list price for.
It almost feels the the go go days back in Colorado in the late 90s or the boom years here in B-Town circa 2005-2006. While we focus on “best deal” homes for our buyers, which may explain some of it, our best-priced listings are not lasting more than a few days. Demand appears to be up everywhere. You can feel a new “vibe” when you drive around town. New neighborhoods are opening up and new construction houses are rising on lots that have been idle for a few years.
Treasure Valley Home Sales in March were up 37% from Feb and April and May homes sales seem to be as good as or maybe better. Stay tuned – We hope this is the start of some stabilization in the home prices. Another factor is the banks are dumping REO property under market value which is creating a “feeding frenzy” in some instances. A recent home in Windsong (4 bedroom, 3 bathroom, 3 car garage) had 15 offers on it.
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