Year-to-Date Sun Valley Real Estate Market Trends

Year-Over-Year Comparison

This Year: 1/1/2018 to 8/7/2018 

Last Year: 1/1/2017 to 8/72017

What’s Hot? What’s Not?

THE SUN VALLEY SINGLE-FAMILY RESIDENTIAL UPDATE: 

  • The total number of active homes on the market in the Sun Valley MLS dipped 3% from 861 listings last year to 831 this year.
  • The number of homes under contract/pending rose from 255 to 311, an increase of 21%.
  • Last year-to-date a total of 210 homes sold, while this year 265 homes have sold, an increase of 26%.
  • Median sale price moved from $429,000 to $445,000 or an increase of 3%. Please remember this statistic is for the entire Sun Valley MLS. Look at the charts below for pricing information broken out by area; i.e. Warm Springs, Ketchum, Elkhorn, Hailey, etc. 
  • Sold volume increased from $161,377,204 last year to $203,751,912, up 26%!
  • The average sale price is steady with last year at $768,000.

What are some stand-out numbers in the residential market?

  • The two locations with declining inventory are South of Ketchum (we used to call this area the mid-valley) with a 10% decrease in inventory, and Sun Valley with a 33% decrease in inventory. This Sun Valley number does not include Elkhorn – just the core of Sun Valley. 
  • Hailey witnessed a 32% increase in sales, from 82  homes sold last year, compared to 109 this year.
  • Kechum saw the greatest increase in median price of all the municipalities at 36%, rising from $912,500 last year to $1,250,000 this year.
  • The “area” with the greatest increase in median price for a single-family residence was Warm Springs in Ketchum moving from $915,000 last year to $1,497,500 this year, a whopping 63% increase. 

For the statistics by location, check out these charts for all the details.

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue8173-95546-1626287
Elkhorn in Sun Valley6058-33423-32101770
Hailey186212131381541110012121
Ketchum778263943101614-12
Mackay272501540002+
South of Ketchum159142-108981-833356
North of Ketchum434662119-9621250
Other11383-265539-29293210
Stanley Basin37133235002+
South Blaine Co25281218201191122
Sun Valley5939-332817-391510-33
Warm Springs in Ketchum535412725-7111863
Sub Type Totals: Single Family Residence861831-3507475-625531121
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue1624506,130,5008,764,67042383,156365,195-4
Elkhorn in Sun Valley6131167,311,67817,905,5001441,218,6131,377,34613
Hailey821093233,989,53047,826,77540414,506438,7785
Ketchum1413-721,108,50018,465,000-121,507,7501,420,385-5
Mackay02+0345,000+0172,500+
South of Ketchum2426828,820,66125,714,000-101,200,861989,000-17
North of Ketchum8158715,295,00023,378,467521,911,8751,558,564-18
Other2730115,417,10911,514,500112200,634383,81791
Stanley Basin03+02,145,000+0715,000+
South Blaine Co8802,523,9004,695,00086315,488586,87586
Sun Valley148-4229,006,00018,890,000-342,071,8572,361,25013
Warm Springs in Ketchum11142711,774,32624,108,0001041,070,3931,722,00060
Sub Type Totals: Single Family Residence21026526161,377,204203,751,91226768,463768,8750
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue325,000303,000-69897-1
Elkhorn in Sun Valley1,056,0001,140,00079694-1
Hailey352,500368,000497980
Ketchum912,5001,250,0003695972
Mackay0172,500+098+
South of Ketchum931,250849,000-895950
North of Ketchum1,175,0001,000,000-1491920
Other168,000235,0003995950
Stanley Basin0495,000+097+
South Blaine Co193,450247,500279687-9
Sun Valley1,887,5001,830,000-392910
Warm Springs in Ketchum915,0001,497,5006393930
Sub Type Totals: Single Family Residence429,000445,00039594-1

THE SUN VALLEY CONDO MARKET UPDATE:

  • Inventory is down 4% from 341 condos listed this time last year to 324 homes listed this year. 
  • Number of condos under contract/pending sales rose from 117 last year to 160 this year, up 36%.
  • Number of condos sold rose from 109 this time last year to 129 this year, an increase of 18%.
  • The median sale price was reduced to $325,000 from $355,000 last year, or a decline of 9%. 
  • Sold volume is almost dead even with last year at $67,347,577 in sales.
  • Condos this year across the entire Sun Valley real estate market including all of Ketchum, Warm Springs, Elkhorn, Sun Valley, North of Ketchum, Hailey, Bellevue and beyond, are selling at 97% of listing price.

What segment of the market is contributing to the decline in the median sale price for condos?

  • The median price for Elkhorn condos slide from $294,500 to $288,000, down 2%.
  • Warm Springs took the biggest hit when the median price for a condo moved from 340,000 last year to $307,500 this year, or a slide of 8%.
  • Ketchum condo median price is down 4% from $550,000 to $527,000. 
  • The hottest condo market is Sun Valley, where the median price went from $343,500 to $498,000, up a staggering 44%.

For the statistics by location, check out these charts for all the details.

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley9077-14445218274981
Hailey1721239167771157
Ketchum1301332708521465110
South of Ketchum02+02+02+
North of Ketchum01+01+01+
Sun Valley4947-4293210142471
Warm Springs in Ketchum5543-213019-362322-4
Sub Type Totals: Condominium341324-41822071311716036
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley2443799,225,80014,066,92552384,408327,138-14
Hailey65-161,073,0001,001,500-6178,833200,30012
Ketchum4539-1342,549,50030,177,153-29945,544773,773-18
South of Ketchum02+0323,000+0161,500+
North of Ketchum01+01,775,000+01,775,000+
Sun Valley1219584,703,40011,019,000134391,950579,94747
Warm Springs in Ketchum2220-99,612,0008,984,999-6436,909449,2502
Sub Type Totals: Condominium1091291867,163,70067,347,5770616,181522,074-15
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley294,500288,000-295961
Hailey191,750222,0001597970
Ketchum550,000527,000-496950
South of Ketchum0161,500+0101+
North of Ketchum01,775,000+096+
Sun Valley343,500498,0004496981
Warm Springs in Ketchum340,000307,500-99493-1
Sub Type Totals: Condominium355,000325,000-896971

THE SUN VALLEY TOWNHOUSE MARKET: 

  • Townhouse inventory across all sectors of the Sun Valley real estate market fell 20%, from 163 townhouses on the market last year, compared to 130 this year.
  • This reduction in inventory is reflected in a lower number of townhouses sold from 55 last year to 47 this year, or a reduction of 14%.
  • Pending sales are also down. Last year at this time there were 79 townhouses under contract, compared to just 57 this year.
  • Interestingly, the median price of a townhouse in the Sun Valley market rose from $355,000 last year to $445,000 this year, an increase of 32%.
  • Townhouses are selling at 96% of list price, the same as last year.

For the statistics by location, check out these charts for all the details.

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue101010
Elkhorn in Sun Valley2015-25105-507814
Hailey5541-255029-423523-34
Ketchum5938-353120-352316-30
South of Ketchum10000000
Other31-6631-6610
Sun Valley4912546503433
Warm Springs in Ketchum20263011197296-33
Sub Type Totals: Townhouse163130-2011080-277957-27
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue10186,5000186,5000
Elkhorn in Sun Valley59802,865,0008,389,000192573,000932,11162
Hailey2219-135,203,7074,229,500-18236,532222,605-5
Ketchum1812-3313,931,0009,756,500-29773,944813,0425
South of Ketchum000000000
Other10135,0000135,0000
Sun Valley2201,705,000945,000-44852,500472,500-44
Warm Springs in Ketchum65-164,607,0004,219,000-8767,833843,8009
Sub Type Totals: Townhouse5547-1428,633,20727,539,000-3520,604585,93612
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue186,5000-100990
Elkhorn in Sun Valley500,0001,010,00010293930
Hailey224,475225,00009997-2
Ketchum692,500761,250995960
South of Ketchum000000
Other135,0000-100980
Sun Valley852,500472,500-4495950
Warm Springs in Ketchum823,500725,000-1194983
Sub Type Totals: Townhouse335,000445,0003296960

Check back as I update the market statistics from time to time. 

Respectfully submitted, 

Sheila Liermann | Sun Valley Real Estate Broker

208.481.0450

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