Boise Idaho Real Estate Blog

Early Demand Boost Helps Stabilize Boise-Area Home Prices

As the spring selling season begins, Treasure Valley home prices display glimmers of stability following year-over-year declines.

In Ada County, the median single-family home price declined 10.7% from the previous year, finishing February at $491,057. Canyon County prices dipped to $389,945, down 10.2% from the year before.

While prices rose slightly in Ada County and declined somewhat in Canyon County, their combined prices are essentially unchanged from January, marking the first month without a decline since October.

Star and Middleton emerged as the only two cities in the Treasure Valley to record a yearly increase in prices. Star saw a gain of 11.7%, while Middleton's prices rose by 2.6%. Conversely, Kuna showed the biggest decline, with…

1756 Views, 0 Comments

How to Choose a Home Builder for Your New Home: A Step-by-Step Guide

So, you’ve been perusing homes online, considering floorplans, contemplating kitchen cabinet colors, and imagining the perfect wood floor. Maybe you’ve even toured a few homes to get an idea of what feels best.

You want to buy or build a new home, and you’re ready to commit and ensure that, from stud to Sunday dinner, your new home is perfect. After all, this will be your home. It’s the place where love and laughter will sound for years and years, and whether it’s kids, grandkids, friends, family, toys, or tools, your new home needs to reflect the things that matter most to you.

Your Boise home builder options are nearly endless, and who you choose matters.

You and your builder will spend countless hours together, and with something as…

1707 Views, 0 Comments

Lower Home Prices & Rates Point to Spring Recovery in Treasure Valley Market

The Treasure Valley housing market saw home prices and sales decline in January, as rising interest rates and a typical seasonal slowdown ahead of the holidays took their toll.

In Ada County, home prices fell 10.2% year-over-year to $485,000—the lowest level since April 2021. Canyon County saw a 6.9% yearly price decrease, settling at $395,445, a slight increase from December but also in line with the beginning of 2021.

The slowdown in the market can be partly attributed to the seasonal trend of fewer sales and lower appreciation in January; it also reflects purchase decisions made months earlier when mortgage rates were at a 20-year high.

Decreasing affordability and increasing economic uncertainty caused many buyers to retreat from the…

1531 Views, 0 Comments

Treasure Valley Home Prices Head Lower Despite Dwindling Supply

Treasure Valley home prices remain on a downward trend despite a rapidly shrinking supply of homes for sale.

Median home prices declined 5.7% in Ada County and 7% in Canyon County for the year ending in December.

In 2022, home prices remained positive on a year-over-year basis until November before ultimately finishing the year lower than where they had begun. This marked the first time since 2010 that home prices ended the year lower than where they started.

In January, the average 30-year mortgage rate was just over 3%. However, by the end of December, it had risen to 6.42%. This represents the largest increase for any calendar year on record.

The dramatic rise in rates shocked the system, ending the pandemic-driven housing boom. For…

1530 Views, 0 Comments

Boise’s Best Trail Hikes for All Skill Levels

With more than 200 miles of trails surrounding the city, it’s no exaggeration to say that Boise is a haven for hikers. It’s also a great way for families to explore the rugged beauty of our high-desert ecosystem. Below, we highlight some of the best trails in and around Boise, from easy paths that double as great nature walks for kids, to challenging day hikes. All you’ll need to pack is your sense of adventure, sunscreen, and plenty of water.

Mountain Cove

Difficulty: Easy
Length: 2 miles, 175’ elevation gain
Estimated time: 45 to 60 minutes (location)

Mountain Cove is the most accessible trail in the Military Reserve trail complex, which is located in Boise’s East End neighborhood. The mostly flat trail parallels a creek and culminates in a…

16057 Views, 0 Comments

Ada County Home Prices See First Annual Decline in 8 Years

In November, Ada County home prices recorded their first year-over-year price decline since 2014.

On a month-to-month basis, home prices began falling in June but remained higher annually until now. The median home price in Ada County declined by 2.5% from last November. Prices in Canyon County eked out an annual gain of 1.4%.

Home prices have been under pressure this year as moves by the Federal Reserve to tame inflation have sent mortgage rates soaring.

Prices can rise and fall monthly, even when the overall price trend is higher (or lower). Many economists and real estate professionals focus on yearly comparisons to help smooth out that monthly volatility.

In the past few years, buyers saw the fall and winter months as an opportunity to…

1524 Views, 0 Comments

Treasure Valley Home Supply Shrinks as Sellers Move to the Sidelines

In October, the supply of homes for sale dropped for the first time this year as rising mortgage rates and slowing appreciation continued to discourage potential sellers.

The number of newly listed homes plunged 30% from September, marking the fourth consecutive monthly decline. While it is not unusual to see a slight slowdown in late summer, new listings are also down nearly a third from last October, suggesting more than a seasonal shift.

Months’ supply of homes for sale in Ada and Canyon County slipped to 2.81 and 2.87, respectively, the first monthly declines since January.

As inventory decreased, Treasure Valley home prices increased. Ada County prices rose 5.1% from last October and jumped $21,000 just from last month. While home prices…

1229 Views, 0 Comments

How To Prepare Your Idaho Home for Winter

One of the best ways to celebrate winter is curling up on the couch with a hot drink and a good book. One of the worst ways is frantically calling an HVAC maintenance specialist during the first snowstorm of the year because your heat has suddenly stopped working. Yet many Treasure Valley homeowners still skip basic maintenance and home checks each season until they have an emergency on their hands.

That’s a hard and expensive lesson to learn–and one you can avoid with a few easy steps each fall. Below, we’ve outlined everything you need to keep in mind to get your Boise-area home ready for a cozy, emergency-free winter.

Inspect Your Roof

You may not be thinking of selling your home at the moment, but simple annual maintenance will save you a…

2143 Views, 0 Comments

Boise Housing Market Gives Back 2022 Gains as Rates Hit 15-Year High

Treasure Valley home price appreciation declined to the lowest in eight years as rising interest rates sent affordability to multidecade lows.

Ada County and Canyon County home prices rose just 1% in the year ending in September—the slowest growth rate since 2014.

The two counties' combined sales declined to 1,043 from last year's 1,543, reflecting a shift in buyer sentiment and reduced affordability from rising rates.

Homebuyers have more choice and negotiating power compared to prior years, but monthly payments can create sticker shock.

The year began with near-record low inventory and years of pent-up demand, but rapidly rising interest rates have changed the equation for many would-be buyers.

Since January, mortgage rates have more…

1784 Views, 0 Comments

Treasure Valley Housing Market on Edge as the Slow Season Looms

Treasure Valley home price growth continues to slow as volatile mortgage rates keep buyers on their toes, suppressing demand.

Ada County home prices rose 6.5% from a year earlier, while Canyon County prices gained 7.4%. While below the double-digit price increases we have become accustomed to in the last few years, 6-7% appreciation rates are above the Treasure Valley's long-term average.

Continuing the volatility we saw this summer, the average 30-year fixed mortgage rate increased to 5.89%—the third increase in as many weeks. Rates reached 5.81% in June before declining to 4.99% at the beginning of August.

Record low mortgage rates have been a significant driver of the demand we have seen since the beginning of the pandemic. Population…

2686 Views, 0 Comments