The 16th annual Windermere Report has just been published—over the years this report has earned its reputation as one of the most accurate sources for data on the Blaine County housing market. You can download the pdf here.
Overall, 2015 was an encouraging year for our local market, with the median selling price showing gains in most areas and price points.
In the Hailey market, 120 homes sold in 2015, up from 92 homes the year before. The average price per square foot climbed 4%, held in check by a healthy inventory. The average $/SF in Hailey hit $180, still far below the 2008 market peak of $210/SF. The biggest gains in the south valley came in Bellevue where 33% more homes sold in 2015 and the average selling price climber nearly 27%.
In the resort market of Ketchum and Sun Valley, the median per square foot sale price of single family homes was up 4% from 2014 and the number of closed sales climber by nearly 17%. At $415 per square foot, the median sold price is now 26% higher than when the market bottomed out in 2011, but it is still 15% below the peak of 2008.
The resort condo market recorded 198 sales in 2015 compared with 158 the year before. Interesting the median price per square foot was up 7% from 2014 with 25% more closed sales. At $325/SF, the median sold price is now also 26% higher than 2011’s market bottom but still well below the peak when only 91 units sold.
The 2016 market outlook is great. We expect the low interest rates, healthy inventory and reasonable market appreciation. There’s a lot of great economic drivers in our valley including the new four-star Limelight Hotel will open later this year in Ketchum. Airline service is improving with better direct service and a great newly remodeled airport to welcome visitors.
I am working on new tools for buyers and sellers, partnering with local lenders, preparing complimentary comparative market analysis upon request, and I am generally available for coffee or a ski/hike—so give me a call for any real estate need or desire. I’d love to hear from you!
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Anna was fantastic. My husband and I both enjoyed working with her. At the beginning of our house hunt she spent a lot of time getting to know what was important to us and what we wanted out of our house. As the process continued, she helped keep us on track with our price range and home wish list. She understood our wants even more than we did! The house we purchased was not even on my list, Anna added it as a home for us to look at because she just knew we would love it… And we did!!! … (Brandee & Adam Smith)
Anna was extremely helpful and proactive in helping me with the sale of my home. The transaction required skillful navigation of multiple contractual, zoning, and property issues which Anna handled capably. She was fantastic at every stage of the process; from market research, to pricing, to marketing and through closing. I would recommend Anna to anyone and she would be the 1st person I reach out to if/when I'm in the market again… (Jon Piggins)
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