Sustained Rebound underway in the Wood River Valley

“Summer is officially underway in the Wood River Valley, with wildflowers blanketing the hillsides and an assortment of outdoor activities in full bloom. As always, there’s a busy calendar of events planned with theater productions, live music and creative workshops to be enjoyed. The Farmer’s Markets begin this week in Hailey and Ketchum and will continue each week until early October.

I’ve just completed an analysis of the local real estate market over the past 24 months. In this historical overview, it’s clear we’ve witnessed some significant changes. After local home prices and sales volume tumbled from 2009 to 2011, a sustained rebound is now underway. The mid-valley and south valley have showed strong gains in both the number of single family homes sold and the average selling price. In the resort area, the statistics are much more mixed. Sales have increased, but  by a smaller amount, and the average selling price per square foot is dependent on the neighborhood.

I think there’s an important lesson here for both buyers and sellers. We all have seen the media reports of a robust rebound in the housing market. While that’s true on the national level, each real estate market is unique and prices are established locally. Whether you are buying or selling, I’d be happy to have a Windermere agent who is familiar with the area prepare a detailed Comparative market Analysis on a particular property which shows you the long-term trends in that neighborhood or subdivision.

Blaine County remains a highly desirable place for young families to relocate, as well as haven for urban dwellers to rest and recreate. I look forward to a summer of strong real estate sales, as sellers enjoy the rebound in home prices and buyers seek out the best values in the marketplace. As I mentioned earlier, if I can be of help in the coming months, please don’t hesitate to call.”

Sincerely,

Dan Gorham