Each July, the population of the Sun Valley area swells, and visitors and second homeowners converge on the area’s numerous offerings of activities and events. As you might image, new real estate listings spike to take advantage of the population spike. This year is no exception.
In the months of May through July, 380 new properties have come on the market, a 9% increase from the same time last year. That said, the overall number of active listings is down nearly 16% from last year. While the number of listing is down, the median listing price is up 25% and the medium price per square foot is up 17% from last year.
Historically, active listings peak in July and bottom in April. Does this mean late summer is the best time to buy? Maybe. With 5.3 months in inventory, you can be assured that lots of today’s listings will have sold in 6 months.
This real estate update is provided as a service to our guests and other interested parties. Alpine Lodging is not affiliated with Coldwell Banker Distinctive Properties (CBDP) or any other real estate firm. CBDP is responsible for the content.
(Data provided by the Sun Valley Board of Realtors Monthly Market Report)