Happy Friday!
I was looking yesterday at the statistics put out by the Western Mountain Resort Alliance showing the first quarter sales in each Western resort area. (Towns include Whistler, Park City, Steamboat, Summit County, Sun Valley, Telluride, Teton , Vail, McCall, Grand County, Big Sky, and Tahoe) When graphed, the statistics show a very obvious trend over the past three years. While I think everyone is aware of the dip down, what is impressive to see is that in every resort market, the sales in the first quarter of 2010 have dramatically improved in both volume and number of units sold. The graphs look like a bunch of varying sized "Vs".
On the graphs for average sales price, the trend is still downward in most markets, showing the impact short sales and REOs are having across the board. Once the supply of distressed and bank-owned properties diminish, we will then see prices stabilize and then start to rise. I believe that this will happen in our area towards the beginning of next summer. An early indicator that things may be turning towards the positive is that for the first time in a number of months Blaine County finally saw a drop in loan default notices. The rate of foreclosures will be the next to drop. The reason I mention these statistics is to remind you that Sun Valley is going through the same cycles as all of the other Western resort markets. Once we start to see their markets improve we can expect the same to follow suit in our area.
If you are interested in seeing these statistics, feel free to reply to this email and I'll be happy to send them along.
Pilot Investments is currently working on three very interesting commercial investment opportunities. These deals are not on the market and range in size from $4 Million to $35 Million. They all have very strong tenants and leases. One of the properties has a committment for financing from a very solid lender who is familiar with both the market and the tenant. Please give Rob Hogan or Rob Cronin a call if you would like more information.
Tomorrow I'm taking my kids over Trail Creek Summit to experience the Mackay Rodeo first hand. Then we're off to celebrate Father's Day with Papa Rixon.
Happy Father's Day to all you Dads out there. May your weekend be filled with love and adventure!
Katherine Rixon, Rob Cronin and Rob Hogan
If you know of anyone looking to buy or sell real estate please let us know. We are never to busy for your referrals!
Sun Valley Brokers, LLC
office: 208-622-7722
cell: 208-720-4958
fax: 208-622-7127
www.svbrokers.com
www.pilotinvestmentsllc.com
Friday, June 18, 2010
Tuesday, June 8, 2010
Blaine County Real Estate Statistics, May, 2010
Happy Friday!
Despite the mediocre weather, Memorial Day weekend was busy throughout the valley. Retails and restaurants saw increased activity and all signs pointed towards the beginning of a busy summer!
On this very wet and rainy day I thought you'd all be interested in seeing the statistics for the month of May.
200 New Listings
162 Price Reductions
47 Properties went under contract
30 Properties Closed (5 over $1 Million)
1 house in Bellevue
1 house mid-valley
3 houses north of ketchum
2 houses outside the valley
11 houses in Hailey
2 houses in Ketchum
4 condo/townhouses in Ketchum
3 condo/townhouses in Elkhorn
1 townhouse in Hailey
2 condos in Warm Springs
1 vacant lot in Hailey
Of the 30 that sold
Average days on the market: 250
Average sales price: $603,000
Properties sold at an average of 87% of their listing price.
I also found the following article from the Wall Street Journal interesting. While it doesn't apply to our valley yet, this is definitely a sign of better times to come. Once the wealthy feel comfortable in the primary markets, the next step will be a strengthening of resort markets such as ours!
Luxury Sales Bounce Back
Bidding wars for a $2 million house? In some markets, sales of high-end homes return to levels not seen since the boom
If you know someone thinking of buying or selling a home, who would appreciate the service we offer, we'd love to help them. So, just give us a call or email me their name and number and we'll
be happy to follow up. You can be assured we'll take great care of them!
Wishing you all a terrific weekend!
Katherine Rixon, Rob Cronin and Rob Hogan
Despite the mediocre weather, Memorial Day weekend was busy throughout the valley. Retails and restaurants saw increased activity and all signs pointed towards the beginning of a busy summer!
On this very wet and rainy day I thought you'd all be interested in seeing the statistics for the month of May.
200 New Listings
162 Price Reductions
47 Properties went under contract
30 Properties Closed (5 over $1 Million)
1 house in Bellevue
1 house mid-valley
3 houses north of ketchum
2 houses outside the valley
11 houses in Hailey
2 houses in Ketchum
4 condo/townhouses in Ketchum
3 condo/townhouses in Elkhorn
1 townhouse in Hailey
2 condos in Warm Springs
1 vacant lot in Hailey
Of the 30 that sold
Average days on the market: 250
Average sales price: $603,000
Properties sold at an average of 87% of their listing price.
I also found the following article from the Wall Street Journal interesting. While it doesn't apply to our valley yet, this is definitely a sign of better times to come. Once the wealthy feel comfortable in the primary markets, the next step will be a strengthening of resort markets such as ours!
Luxury Sales Bounce Back
Bidding wars for a $2 million house? In some markets, sales of high-end homes return to levels not seen since the boom
If you know someone thinking of buying or selling a home, who would appreciate the service we offer, we'd love to help them. So, just give us a call or email me their name and number and we'll
be happy to follow up. You can be assured we'll take great care of them!
Wishing you all a terrific weekend!
Katherine Rixon, Rob Cronin and Rob Hogan
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