Tom, Paige and I escaped for some mountain biking in Southern Utah last week. While the sun and trails were great, I’m always happy to be home! It’s a relatively quiet time of year in the Wood River Valley as we wait for ski season to commence.
Sun Valley Round Up
Despite the national news reporting price adjustments, our data in the Wood River Valley does not yet support this. Our median sales prices for 2023 are up 22% over 2022.
The Wall Street Journal recently published an article confirming a national trend that we are seeing in our valley. High mortgage rates have impacted the housing market under $1M, but for homes over $2M, cash sales are strong. Nationally, homes in the top 5% of the market are out pacing the housing market. Nearly half of these Buyers are paying cash.
And, it’s hard not to acknowledge the national news regarding Realtor commissions! It will be interesting to see how quickly this changes our business.