Wednesday, April 10, 2013

Falling Real Estate Inventory in Sun Valley and Ketchum, Idaho

The number of Sun Valley properties actively listed for sale is down 17% from the same time last year. This is the lowest amount of inventory we have had on the market since 2005.

For example, in March of 2011, there were 168 condo/townhouses in Ketchum listed for sale, today that number is 96, a 42% reduction.  In Elkhorn there were 105 condo/townhouses listed in March 2011, today that number is 63, a 40% reduction in inventory. Because new inventory coming on the market is about par this year as it was last year, this decrease in inventory is a direct result of the increasing momentum of closed transactions, up 48% in 2012 over the previous year.

Typically, we see a slight increase in inventory before the summer selling season. And since we have yet to see substantial price appreciation in the Sun Valley market, now is a great time to purchase your place in the sun.

If you are thinking of buying or selling a home, an associate from Sun Valley Sotheby's International Realty can help. Please call our office at 208.726.5300 to schedule a complimentary consultation, or to contact your current SVSIR agent.

*Statistics Provided by the Sun Valley Board of Realtors.

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