Happy Friday!
We’ve had another week of incredible snow and amazing conditions on the mountain. And today is a beautiful bluebird day here in Sun Valley. Laurel is off this morning taking a few runs with her family.
I’ve been on the phone this morning with an agent from another local office discussing our lack of inventory. Buyers who have been on the hunt for quite some time are starting to get extremely frustrated with their lack of choices. Since mid-2022, buyers have been anticipating a drop in prices and an increase in inventory, however we have seen exactly the opposite. Inventory remains low and prices have continued to rise.
In an attempt to help some of our frustrated clients, I figured I’d reach to all of you to see if we can drum up some properties that are not yet on the market.
CAN YOU HELP?
If you have been toying with the idea of selling, we might be able to make a match.
Here is a list of a few of the clients we are working with and what they are looking for:
- Local couple looking for a single-family home, East Fork or north, 2500+ square feet, up to $3,000,000.
- Local family seeking an Elkhorn townhome, 3 + bedrooms, two-car garage, good light & sun, views a plus, up to $2,750,000.
- Active couple seeking a single-family home on one to 10 acres, 3500 – 5000 square feet. Equestrian facilities a bonus. Seeking privacy. Buyers like a more traditional style. Will spend up to $10,000,000 for the right place.
- Local business owners looking for a home in Bellevue or Hailey with at least 3 bedrooms, a functional kitchen and a two-car garage. $700,000-$950,000
- Local business owners, wife due late spring with third child, Looking for a 4-bedroom home in Hailey up to up to $800,000
- Longtime visitor seeking a 2+ bedroom condo in Elkhorn, preferably with a garage. $700,000-$1,000,000.
- Boise business owners seeking a 3-bedroom condo or townhome in Ketchum or Warm Springs. $2,000,000-$3,000,000, preferably upgraded
- Buyer seeking a condo or townhome specifically in White Clouds, Diamond Back or Thunder Spring. Willing to pay above market value for the right property.
- Local chef seeking a 3+ bedroom home in Hailey with a nice yard, up to $850,000
- Young local couple who recently relocated to Ketchum from Colorado. Seeking a fixxer-upper in Ketchum or Warm Springs, up to $2,000,000.
Please reach out if we help make a connection.
In the meantime, here are the statistics for February 2023:
- 70 New Listings
- 48 Properties went under contract
- 12 Price Reductions
- 31 Sales
Of the Sales:
- Low: $190,000 (Lot in Hailey)
- High: $8,800,000 (Home in Warm Springs)
- Average Sales Price: $1,729,000
- Average Price Per Square Foot: $778
- Median Sales Price: $1,147,500
- Average Sales Price to List Price: $95.6%
- Average Days on Market: 148
Compared to February 2022
- New Listings: Down 24%
- Number of Properties in Contract: Down 43%
- Number of Properties Sold: Down 55%
- Volume Sold: Down 40%
- Average Sales Price: Up 33%
If you are here and in town, enjoy the sunny day. The weather gods are calling for more snow tomorrow.
Wishing you all a fantastic weekend!
Katherine
