End of the drought – Putting all your eggs in one basket as the rabbits are peeking out!
2017 is proving to be a year of counting all the eggs in your basket. The First Quarter Market Report shows that optimism is high in the Sun Valley area after an epic winter and one of the best snowfall years on record. The weather is good and the skiers from near and far are very happy. The real estate market, after disappointing us in 2016, has rebounded producing some of the most positive numbers we have seen since 2005, or before the recession.
The first quarter of 2017, compared to the same period in 2016, sales statistics are showing signs of a huge upswing in activity from one year ago. The number of sales is up 25% and our sold volume is up 44% over last year. This has left us with 8% fewer properties on the market before our summer selling season. This may be the shift between a buyer’s market and seller’s market.
The lifts are closing but the skiing will continue in the backcountry until June. In addition, with a smaller inventory and buyers seeking out desirable properties, the real estate market is healthy again.