Provided by Phil Doerflein, Windermere Sun Valley
The forecast for the Sun Valley real estate market for 2020 will be driven by one word: inventory. Currently, there is a four-month supply of resort area condos for sale. In the single-family home market, the supply of active listings will last six months.
Overall, 2019 was a steady year in Blaine County real estate, with slight declines in the number of closed transactions and total dollar volume, but an increase in the median selling price, according to the Sun Valley Board of Realtors MLS data.
In the resort condo market, 244 sales were recorded in 2019, compared to 266 a year earlier. That decline was off set in the resort single family market which climbed 7.8 percent and boosted a 4.4 percent gain in the median sales price.
The luxury market continues to perform well. Sales of homes and condos listed above $2 million now account for nearly 25 percent of the total dollar volume sold. Properties in this price range had a median selling price of $630 per livable square foot in 2019, an increase of 11 percent from 2018.
We expect 2020 to be a steady year in Sun Valley real estate, with tight inventory levels driving residential real estate prices upward in certain price points. The local market has posted three consecutive years of steady growth, and interest in our community from out of area buyers is at a decade long high.
This real estate update is provided as a service to our guests and other interested parties. Alpine Lodging is not affiliated with Windermere or any other real estate firm, and is not responsible for the accuracy of this content.