How to be a Successful Buyer in a Seller's Market and
Price Range Statistics in the Sun Valley MLS.
The charts below are for the residential real estate market in the Sun Valley area, including single-family homes, condos, townhouses and duplexes. I think these numbers do a good job illustrating why it's a seller's market - the inventory is very skinny across all price points. Additionally the Days on Market are short, so if you are a buyer you better be prepared to make an offer in very swift order. Moreover, at the current rates of sales, we won't have any residential property to sell in 1.64 months assuming there is no new inventory. In July of 2020, the adsorption rate was 7.96 months of inventory. A balanced market has 4 or 5 months of inventory. A balanced market is neither a buyer's market nor a seller's market.
Here's My Advice to Buyers to Make Their Offer More Appealing to a Seller