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Will the Summer Housing Market Heat Up or Cool Down?

What to expect when buying or selling your home By Joshua Nishimoto

Real Estate Sandpoint Idaho

Whether you’re looking to purchase a summertime fun home on the water or an excellent escape from the sun under a forest canopy, real estate agent Jackie Suarez has the inside scoop to keep your summer housing market home selling or home buying options cool and comfortable as the market is looking to heat up.

Spring and summer traditionally provide a slew of options for the avid home hunter. Depending on the location and how much you want to pay for your new property may influence you to wait or pull the trigger on a new home or vacation home.

“Our waterfront market sees its highest activity in the summer months,” Suarez said. “Interest rates are forecast to continue to rise and will likely create a sense of urgency for borrowers. While our overall pricing is higher this year compared to 2021, many sellers are currently reducing prices to meet market demand, and we will likely see more of this in the coming months.”

For trends on their way out, although prices have increased for homes in the last couple of years, competition is slowly dying. With fewer buyers looking to spend market value or higher for homes, this allows for more properties to stay on the market longer. “With more properties available this year than last year, buyers have more leverage, although we aren’t seeing the power shift from sellers to buyers completely,” she said. “Demand is still high, and people can perceive a good deal—well-priced land and homes are still seeing multiple offers.”

To ensure that Suarez’s clients are making the best deal for their needs, she does her homework and stays on top of current and past trends with professional tactics for getting her clients the best deal possible.

“I research the market and consistently communicate so we know our options and can make the best decisions,” Suarez said. “Each property is unique, and each client’s needs are different.”

Suarez has also built up a long list of other agents she has worked with, attorneys, lenders, title companies and local professionals, a group of people she relies on, and the key to her success and the successful home buying and selling for her clients. “Timing is important,” Suarez said. And many other conditions combine to make a transaction “best-case” for everyone. “There is no substitute for years of experience when it comes to negotiating and helping my clients reach their goals at the best possible terms, whether buying or selling.”

Besides Suarez’s education and experience, another key to her job is paying attention to trends and doing her daily research, not just in the local Sandpoint market, but also in markets where her clients are coming from.

“It's important for me to listen carefully and be ready to anticipate my clients’ needs,” she said. “Our market ramps up every summer, so we expect no different this year. However, compared to last year, we should see less of a frenzy and more balanced negotiations with more homes and land to choose from.”

A traditional summer brings price reductions from sellers who are unlikely to want to move in the winter. This provides a good opportunity for buyers to negotiate in the late summer season when sellers are more likely to give buyers a little wiggle room when it comes to price.

“Closer to the snow coming, some sellers will remove their properties from the market and bring them back for sale the following spring,” Suarez said. “Our Schweitzer Resort market typically ramps up in the fall as the focus shifts from the lake to the mountain.”

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