January ’17 Market Stats
2017 is starting off a bit slow in terms of sales, but prices remain very strong. As the holidays become smaller in the rear view mirror and Spring Break approaches we will anticipate a strengthening market and more residential sales, especially as new home construction begins to break ground across the Valley, likely as the snow begins to melt in late March. For the 9 residential sales in Teton Valley, the average sales price was $497,777, one of the highest numbers we have seen in a decade.
Assumable Loans
Most of us in the industry know that interest rates have already begun to rise, and while they are nowhere near historic levels, they are approaching levels we started to see prior to the recession. Average 30-year rates dipped into the low 3s at the bottom of the 2008 downturn, and held at these levels for some time.
Deal of the Week
8120 Trout Bend Victor, ID
This 2200SF home in the popular Victor “Brookside Hollow” community in Victor boasts 5 bedrooms, dramatic vaulted ceilings, a large yard, and room to expand with a partially finished basement.
Why it’s a good deal:
Nicely appointed homes between 3 and 400,000 are getting hard to come by in the Victor area.
How much?
$340,000.
How quick will it sell?
Homes in this price range (especially in Victor) tend to sell quickly. I would anticipate a contract before Spring.
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