Boise Idaho Real Estate Blog - Lisa Kohl

Record-High Prices and Scarce Inventory Turn Treasure Valley Home Buying Into an Extreme Sport

July brought continued great news for home sellers in the Treasure Valley: record-high home prices in both Ada and Canyon Counties, combined with record-low inventory, is making home buying in these markets more competitive than your favorite extreme sport.

While we are seeing the strongest seller’s market ever recorded in the Treasure Valley, there is a silver lining for home buyers. Thirty-year mortgage rates continue to hit new lows, most recently 2.88%, offsetting some of the record high selling prices we’re seeing.

Let’s take a closer look at the numbers before we jump into what is driving this current market:

• The biggest gains we’re seeing is in Canyon County, which hit a median sales price of $300,000 for the first time ever,…

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Treasure Valley Idaho: A Guide to the Greater Boise Metro Area

From the remote desert of the Owyhee Mountains, to expanding vineyards and family-run farms, to bustling metropolitan areas ringed by national forest, there is no other place in Idaho – or perhaps even the Northwest – that contains the diversity of the Treasure Valley.

In addition, job opportunities are plentiful, housing prices are reasonable, and national rankings show everyone from millennials to retirees think it’s a desirable area to live. So it’s no surprise that the Treasure Valley, also called the Boise Metro Area, is currently consistently ranked as one of the fastest-growing in the nation.

But all that diversity can sometimes cause confusion. For instance, what exactly do we mean when we’re speaking of the Treasure Valley? Is the…

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Buying a Foreclosure? Here’s What You Need to Know

Buying a foreclosure can be an excellent opportunity to save money on a new property purchase. The key is to do your homework and go in with your eyes open.

In most parts of the country, home prices seemingly increase by the month. Despite the fact that there are fewer Boise foreclosures for sale today than there have been in the past few years, there is still very strong interest from buyers considering buying a foreclosure. With the potential to save some hard-earned money, it probably doesn’t come as a surprise.

So what exactly is a foreclosure and how do they work? When different people mention foreclosures, they are not always referring to the same type of foreclosure. Let’s review the five main types of foreclosures, how they differ, and…

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Metro Boise Market Sees New Listings Fall off a Cliff

New listings took a nosedive across the Treasure Valley in June, driving home prices up and setting new sales records in Boise, Ada County, and Canyon County.

Despite the continuing pandemic, demand for homes has not lessened – it has grown – as sellers postponing listings, and new construction delays are now compounding an already critical lack of supply in the valley.

To get a better idea of just how sudden and dramatic the change was, let’s look at the numbers:

• In Ada County, available listings plunged from 1,353 in May to 985 in June – a more than 27% drop. When compared with last year’s available listings (1,715), we see a 42.6% decline. For context, we haven’t seen so few listings on the market in any June since the ‘90s housing…

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Float the Boise River: The Complete Guide

There’s only one thing to do when summer temperatures hit triple digits and you feel yourself wilting faster than a wildflower: slather on the sunscreen, grab a few friends and float the Boise River.

Floating the six-mile stretch of the Boise River from Barber Park to Ann Morrison Park is a uniquely thrilling yet tranquil pastime. Where else can you spot wild mink, deer and bald eagles’ nests, or watch teenagers jumping from bridges, or even stop to picnic or fish on a quiet stretch of beach before floating on to the heart of the city?

No one is quite sure when the tradition started, but now each year more than 125,000 people take the two-hour trip downstream. If you’ve never tried this local rite of passage, don’t worry, we’ve got you covered.…

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Boise Wineries and Tasting Rooms: An Idaho Wine Lover's Guide

Discover the Wineries and Tasting Rooms of Boise’s Urban Wine Region

The wineries of downtown Boise and the surrounding communities are home to some of the most unique and exquisite local wines. The "Boise Urban" wine region is quickly becoming a hot spot for diverse cuisine, art, culture, and outdoor recreation, making it the perfect place to sip and sample with your friends. Some wine-lovers even hop on their bikes and hit the Boise River Greenbelt to tour and taste these local wineries.

As Boise continues to grow and thrive, so do the many locally-owned and operated restaurants and wineries. Today, locals and visitors can sip their way through downtown and the surrounding cities. The wineries and tasting rooms in Boise's urban core make up…

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Boise-Area Home Prices Head Higher as New Listings Vanish

COVID-19 required stay-at-home orders did little to slow the Treasure Valley's real estate market in May as demand rose.

In Ada County, the median home price rose to $362,00, up 5.6% from the year prior. The time it takes for the typical home to sell remained unchanged at 11 days. In addition, the available supply of homes on the market declined to 1,353 – a drop of more than 200 new listings compared to last year. This means that available inventory is down to a 1.48 months supply in the county.

As is typical for this time of year, we had more available inventory in May than the previous two months. That said, there are now fewer homes for sale than any month of last year except December (a slow month for new listings despite soaring demand).

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How Boise’s Population Growth Is Shaping Idaho’s Largest City

Spend a few days in Boise and it’s easy to understand why it has topped lists for the past few years as one of the fastest-growing cities in the nation. The city’s low cost of living, an impressive array of breweries and restaurants, and diverse recreation activities are just a handful of reasons Boise has dominated national “best of” lists for the last decade. They’re also why people of all ages are choosing to call Boise home.

And with the Boise metro population projected to surpass one million residents by 2040, it’s worth taking a look at who’s migrating to the area. Where are they moving from, and what can our projected population growth tell us about the Treasure Valley’s future?

Metro Boise, Idaho Population

Boise

241,590

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Boise’s Historic Neighborhoods: A Blast From the Past

Did you know Boise boasts six beautiful residential neighborhoods on the historical register?

Some of the most sought-after locations for homebuyers, many of the historic districts in Boise are near downtown, offering short commutes, high walkability, desirable amenities and local flair. Whether you are looking for Queen Anne cottage, a Craftsman bungalow, or the perfect Colonial Revival style home, you’ll see a wide array of gorgeous examples in Boise's historic neighborhoods.

Many, such as Harrison Boulevard, are also a vibrant part of the Boise community. On Halloween, you’ll notice Harrison blocked off to allow lines of trick-or-treaters to visit the historic houses. The Christmas lights every year on Warm Springs Avenue are a delight to…

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Home Prices Soar in the Treasure Valley Despite Pandemic

We may be in the midst of a once-a-century global pandemic, but you’d never guess it by looking at local housing data.

Despite statewide social distancing rules and nationwide uncertainty, both Ada and Canyon counties reported new record-high home prices for the month of April.

This is encouraging news for potential sellers who hit the “pause” button on listing their homes over the past few months. The housing market is still strong in the Treasure Valley – in some ways, perhaps even stronger than usual, thanks to our unique, local circumstances.

Urgency among homebuyers

There are a number of factors that play into the sales records we’re currently seeing. Over the past year, tight inventory in the Treasure Valley – around 1.5 months – has…

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