Deb and Tom Nicholls
Deb and Tom Nicholls
2024-04-16
Kara, Gracie and Becky were great to work with during our home search. It was a long process and they were both patient and gracious with us from beginning to end. If you are in the market to purchase or sell your home, we would highly recommend City of Trees Real Estate.
Louis Spiker
Louis Spiker
2024-04-14
We recently had the pleasure of working with Renee Faught as my realtor, and I cannot praise her enough for the outstanding service she provided throughout the entire home-buying process. Renee took the time to understand our needs and preferences truly, and she was dedicated to finding us the perfect home that checked off all the boxes on our wishlist. Her attention to detail and expertise in the real estate market were invaluable in helping us navigate through the various listings and make informed decisions. What truly sets Renee apart is her exceptional communication skills and responsiveness. She was always available to answer any questions, provide updates on new listings, and guide us through each step of the home-buying process. Her proactive approach and willingness to go above and beyond for her clients made the entire experience seamless and stress-free. Thanks to Renee's expertise and guidance, we found the perfect home that exceeded our expectations. I cannot recommend Renee highly enough to anyone in search of a dedicated, reliable, and knowledgeable realtor. If you're looking for a real estate professional who truly cares about finding you the perfect home, look no further than Renee. Thank you, Renee, for helping us find our dream home!
LeeAnn Rossi
LeeAnn Rossi
2024-04-10
Tara and her team did an outstanding job helping us Selling our home!
Dennis Lanham
Dennis Lanham
2024-04-04
very easy and very professional.
Dan Zimmerman
Dan Zimmerman
2024-04-02
Francesca is an absolute pleasure to work with. She is knowledgeable and professional. Highly recommend using Francesca if you are in need of real estate services.
Meghan Yenney
Meghan Yenney
2024-04-02
Thank you to Victoria and team for helping us through buying our new home and selling our previous home! Our experience was great and so much less stressful because of them. Highly recommend!
Teena Nash
Teena Nash
2024-03-21
I can't say enough good about working with Lucas O'Neill. He is very knowledgeable and professional in his work with my elderly parent. He soldiered through a very difficult transaction with two clients that couldn't coordinate, had a rocky divorce sale, court orders, difficult title company to work with and yet he remained positive through the entire experience. I'm impressed with his ability to problem solve with all the issues we had between the two clients, two attorneys, and the inspections and repairs. The one client was really difficult to coordinate with, wouldn't provide keys or use a lockbox, locked the inspector out and yet Lucas was so good about dealing with all the crazy that was going on and still making the sale go through on the closing date. I really don't know any other agent that would have stuck around to finish the deal, and through the holidays to boot. Lucas is a keeper, and just such a good solid guy! Bravo for a job well done!
Blake Mckernan
Blake Mckernan
2024-03-19
City of Trees Real Estate has an amazing team that made our big move painless and easy! They were all very responsive on top of each step and very informative when needed. Cant thank them enough for getting us into our dream home!
Blakely Frechette
Blakely Frechette
2024-03-18
Francesca exceeded my expectations as a real estate agent. From the moment I expressed interest, she was prompt in her responses and demonstrated a genuine attentiveness to my specific needs throughout the entire home buying journey. Her professionalism and dedication made the process smooth and stress-free. I wholeheartedly recommend Francesca to anyone seeking a reliable and committed agent.

Shifting Market or Seasonal Fluctuations? Your Local Market Update

By: Brent Hanson

Shifting Market or Seasonal Fluctuations? Your Local Market Update

If you’re considering buying or selling a home in the Treasure Valley, understanding the current real estate market trends is essential to making an informed decision. Let’s explore the recent changes in inventory, interest rates, and market dynamics to help you navigate this landscape effectively.

Inventory Insights: A Two-Year Peak

Currently, Boise’s real estate inventory is at its highest level in the last two years, with 950 active listings. This increase, approximately 12% higher month over month, offers buyers a broader selection of homes, potentially easing the competition slightly. For sellers, understanding this trend is crucial as it might affect the speed at which your home sells and the negotiating power you might hold.

The Role of Interest Rates

Interest rates significantly influence real estate market dynamics. Recently, Boise experienced a peak in rates at around 7.5%, the highest in six months, which has temporarily slowed down some of the buying activities. However, rates have since adjusted to about 6.75%, reinvigorating interest among potential buyers. If you’re looking to buy, this slight relief in rates could be your signal to enter the market. Sellers should be aware that lower rates can increase buyer interest, possibly shortening the time your home stays on the market.

A Look Back at June 2022

Reflecting on June 2022 can provide context for today’s conditions. Back then, we saw a 2.1-month supply of homes with 1,386 active listings—a considerable increase compared to previous years. However, despite higher inventory levels, the rapid rate hikes introduced by the Federal Reserve created a cautious atmosphere among buyers.

Current Market Conditions vs. Historical Trends

With a similar 2.1-month supply of homes now, but fewer listings than last year, the market still leans towards sellers due to relatively low inventory. However, there’s a noticeable shift. Although less than five months’ supply traditionally indicates a seller’s market, giving sellers the upper hand due to scarcity, the increased inventory provides buyers with more options, potentially improving their negotiating stance.

Pricing and Negotiations

The current trend shows homes selling at about 98.6% of the listing price, suggesting that sellers are becoming more open to negotiation, reflecting a slight shift towards buyer favorability. If you’re a buyer, this could mean more room to negotiate on price and terms. Sellers might need to be more flexible to close deals in this evolving market.

What’s Next for the Boise Market?

As we monitor these trends, it’s essential to consider whether they signal a move towards a more balanced market or are merely seasonal adjustments. For buyers, this could mean more opportunities to find the right home without rushing decisions. For sellers, staying informed will help strategize pricing and marketing to align with current buyer expectations.

Want to take a closer look at current market trends? Click here to watch the full video.