The Correlation Between Sales and Price Per Square Foot
The Sun Valley Report
Friday, March 17, 2023
In our latest real estate research, Jordan put together the chart below showing the correlation between active listings, sales and price per square foot:
This is an interesting visualization of how even though the market has slowed and the number of sales is down, the general trend is that prices continue to rise. We saw a jump in activity this past week, especially between $1 – 3 million. I believe a lot of this activity is due to buyer fatigue. Buyer’s have been waiting and watching the market for new listings and not enough has been coming available to satisfy the demand. So some of the properties that have been sitting are finally seeing offers. Especially the ones that have had recent price reductions.
We are always available if you would like to discuss the market of the moment.
Goings-On in the Valley
It’s a gorgeous Saint Patrick’s Day here in Sun Valley. After another huge dump of snow, the skies have opened up and the sun is shining on the Valley again. It should be a good weekend both on and off the mountain.
Sun Valley is starting to prepare the mountain for the US Alpine Championships, scheduled for April 2-5. The racing event is the final competition on the hotly contended US national ski racing circuit and is the culmination of a season-long showcase of the best of the best in US ski racing. Men’s and women’s slalom will run on Monday, April 3, women’s giant slalom on Tuesday, April 4, and men’s giant slalom on Wednesday, April 5. Each day’s races will be followed by awards and live music in the Warm Springs Plaza. If you are in town, make sure to check it out.
Wishing you all a very happy St. Paddy’s Day and a fantastic weekend!