What should Boise Home Sellers expect? How many Days on market will your home sit?

If you are considering selling your Treasure Valley home or if it is currently listed on the Boise MLS, ask your realtor about the difference between Days on Market and current Inventory Turn Days. There is a big difference between the two and may help you better understand the current market  and your situation. 

Days on Market is misleading because if a home goes off the market for a month and is then re-listed with a different realtor, the Days on Market starts over. Checking current inventory levels compared to current sales levels makes a lot more sense. This will give you turnover rate. Think of it like a store. If the Store has 10 units and is selling 2 units per month they have 5 months of inventory. This means that it will likely take 5 months to sell the store out based on current supply and demand. The lower the turnover days means the faster inventory is being sold.

Ask your realtor if they have data regarding your area so you know where your home stands in regards to the price according to the area. If you live in MLS Area 650 and have a reasonably priced home you should be excited, I have been told.

Don't fool yourself though. We know how your house is worth more than every other house on the block but theirs did not sell in a week either! I know of many homes that are having a hard time getting toured. You need to think about your home and marketing it. For example, a home that is listed just above $400k is missing how many more searches compared to, if it were just lowered to $399,999? Your Treasure Valley realtor can give you all the pointers to make your home the most presentable but get yourself familiar with today's market so you can have realistic expectations.

Good luck out, it's a jungle

Trey Langford
Founder