With supply down and prices up, it’s a sellers’ market in Blaine County, according to the Sun Valley Board of Realtors.
Year over year, the median home sales price jumped almost 19 percent in June, rising to $495,000 for single-family homes, condos, townhouses and duplexes countywide. And, those homes are selling much faster, spending just about half as long on the market as the same time last year.
In all, 71 homes sold in June—a third less than in 2018—averaging 162 days on the market. The number of available homes is declining, too. All told, 483 properties were available to buy, a 21 percent decrease.
“The state of the market in Blaine County shows that homes are still selling quickly,” Ned Burns, president of the Sun Valley Board of Realtors, said in a statement. “There haven't been any significant changes year-over-year, and we continue to remind homeowners that now is the time to put their homes on the market.”
The board expects to see bigger numbers in July, August and September as the valley moves into peak season, according to CEO Grace Summers, but right now dipping inventory has kept opportunities “tight” for buyers and renters.
“The June numbers tell a diverse story based on location,” Summers said. “We will continue providing monthly updates on current market conditions.”