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Quick responses to sometimes long answers..
Homes in all areas and price ranges continue to rise in price. Housing inventory is historically low. Building lot sales and inventory are steadying. In hyper local areas, and properties free of CCRs, like the City of Victor, real estate inventories are low, and new listing prices continue to rise. Moving into the second week of November we are experiencing a slowing pace from the heated pressure of summer, and with lower numbers of listings as well.
The Teton County, Idaho real estate market is booming. Multiple offers, and short market times continue in the desirable stick built home up to $600,000 category. Single family home inventory is historically low. It is essential for buyer’s to be ready to purchase when they see a home they want. 2021 is a record breaking year for high prices and sales volume.
As long as there is more demand than properties for sale – the data says it’s a good bet that until inventory levels rise we are going to experience this fast and unforgiving market.
As of November 11th, the Tetons are receiving a rain, and mostly snow mix. Total snowfall accumulation is around 50″ on both sides of the Tetons (according to computers), with base depths at the resorts reading 15 to as as much as 22 inches. I call this typical pre-season weather, with snow flurries, scattered showers and temperatures bouncing around the freezing mark down low (no valley snow accumulation), and beginning the seasonal freeze above 8,000 feet.