Year-to-Date Real Estate Statistics for the Sun Valley MLS 

Comparing October 31, 2018 with October 31, 2017

Stand-Out Numbers in the Residential Home Market

  • Warm Springs is on fire! The median price of a Warm Springs home this time last year was $760,000 and was $1,497,500 as of October 31, 2018. 
  • Inventory in Warm Springs is dead even with last year at 65 listings.
  • Pending sales and closed sale in Warm Springs are both up YTD, 25% and 15%, respectively.
  • A word of caution about Warm Springs – last year homes in Warm Springs were selling at 96% of listing price; this year that number slipped to 94%. 
  • The area South of Ketchum (you know the area – Gimlet, Golden Eagle, Greenhorn, East Fork, Valley Club, Heatherlands, etc) continues to see price appreciation. The median price of a home in this area moved from $925,000 YTD 2017 to $1,100,000 YTD 2018, an increase of 18%. 
  • Will this area continue to see appreciation? Who knows, but the indicators are positive as the number of homes under contract South of Ketchum increased from 40 YTD 2017 to 27 YTD 2018, an increase of 18%. Check back next month for updated statistics to see how these upcoming closings will affect price.  
  • Ketchum appears to be in the dumps. The median price of a home in Ketchum moved from $1,537,500 last year to $1,250,000 this year, a decrease of 18% 
  • The pending/under contract sales and sold/closed deals in Ketchum dropped, too, by 22% and 42%, respectively. Why? Perhaps Ketchum has hit price resistance? Inventory in Ketchum is up 18%, but perhaps the inventory isn’t attractive? Perhaps buyers in Ketchum are more likely to be from the west coast or urban areas that are witnessing softening markets? Your thoughts?
  • Elkhorn is also seeing the median price of single-family homes slide in value. Last year the median price was $1,282,500 and this year that number was $1,120,000, a dip of 12%.
  • The inventory in Elkhorn is down 8% YTD and the number of homes under contract is up 10%. 
  • Overall, the inventory across the entire Sun Valley MLS is down 4% for single-family homes. 
  • The median price across the entire MLS is up 2%, from $460,000 to $470,000. It will be interesting to see how the year ends because the number of homes under contract is up 11% and sold deals are up 8%.

Check out the charts towards the bottom for complete statistical information across all areas of the Sun Valley MLS.

Stand-Out Numbers in the Sun Valley Condo Market

  • As I reported in an earlier blog post, condos in Sun Valley (excluding Elkhorn) continue to appreciate. The median price of a Sun Valley condo last year was $387,500 and increased this year by 28% to $498,000. 
  • Pending/under contract deals for Sun Valley condos moved from 25 last YTD to 33 this YTD, an increase of 32%. Sold deals are up, too. See the chart at the bottom of this blog for more details about Sun Valley condos. 
  • Again, Ketchum’s condo numbers aren’t as steller as other segments of the Sun Valley MLS. The median price of a condo in Ketchum was $530,000 last YTD and was $498,000 as of October 31, 2018, down 14%. 
  • Unlike the single-family market, pending deals and closed sales are up in the condo market in Ketchum. Last year we saw 60 pending deals and this year that number increased 11% to 67. The number of condo sales increased in Ketchum by 29%. 
  • Condos in Warm Springs are not enjoying the same appreciation as the single-family market. The median sale price of a Warm Springs condo moved from $357,500 last year to $317,500 this year, a decline of 11%.
  • Condos in Hailey increased in median price by 7%; $204,500 last year to $220,000 this year. Condos in Hailey are selling at 97% of listing price, the exact same as last year.

Stand-Out Numbers in the Sun Valley Townhouse Home Market

  • Across the entire Sun Valley MLS, the price of a townhouse increased 19%, from $380,000 last YTD to $455,000 this YTD. These are interesting numbers because the number of pending/under contract deals and closed deals are down 18% and 20%, respectively. Perhaps we don’t have enough townhouse inventory make bold statistical statements? Inventory is down 20%, which might figure into the equation. If you are a statistician, give me a call if you have the answer. 
  • Elkhorn townhouses appreciated this year. The median price last year was $522,500 and the median price this year was $1,010,000. 
  • Townhouse inventory in Elkhorn is down 30%; pending deals are down 8% and closed deals are down 15%. 
  • The median price of townhouses in Warm Springs was down October 31, 2018 over last year by 7%, moving from $787,000 to $725,000. 
  • Hailey townhouse prices are stable at $228,000 last year and $227,000 this year.
  • Bellevue’s townhouse inventory is too skinny to offer much analysis.

Check out the charts towards the bottom for complete statistical information across all areas of the Sun Valley MLS.

SINGLE-FAMILY RESIDENTIAL STATISTICS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue9885-137257-204140-2
Elkhorn in Sun Valley7064-84429-34192110
Hailey225255131771971113515615
Ketchum93105125565182721-22
Mackay293501760004+
South of Ketchum177159-1010798-8404717
North of Ketchum5448-113221-34924166
Other12389-276545-304139-4
Stanley Basin511120477514300
South Blaine Co333712262911161812
Sun Valley6841-393719-482014-30
Warm Springs in Ketchum656503936-7202525
Sub Type Totals: Single Family Residence1013968-4659610-736941311
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue3534-211,876,35013,474,67013339,324396,31416
Elkhorn in Sun Valley1818026,639,67824,540,500-71,479,9821,363,361-7
Hailey1231461853,423,40567,629,77526434,337463,2186
Ketchum2615-4267,318,50026,630,000-602,589,1731,775,333-31
Mackay03+0635,000+0211,667+
South of Ketchum4043757,958,66157,164,500-11,448,9671,329,407-8
North of Ketchum102313018,072,50031,428,467731,807,2501,366,455-24
Other4038-58,141,00913,486,20065203,525354,90074
Stanley Basin04+03,070,000+0767,500+
South Blaine Co1113182,977,0035,766,42393270,637443,57163
Sun Valley1912-3637,411,00032,044,000-141,969,0002,670,33335
Warm Springs in Ketchum19221518,104,32636,178,00099952,8591,644,45572
Sub Type Totals: Single Family Residence3413718301,922,432312,047,5353885,403841,098-5
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue318,000307,750-397970
Elkhorn in Sun Valley1,282,5001,120,000-129694-1
Hailey364,700390,000697980
Ketchum1,537,5001,250,000-1894973
Mackay0195,000+098+
South of Ketchum925,0001,100,000189694-1
North of Ketchum1,281,250910,000-2891932
Other147,480203,0003794940
Stanley Basin0710,000+098+
South Blaine Co190,000216,423139791-6
Sun Valley1,875,0001,830,000-292910
Warm Springs in Ketchum760,0001,497,500979694-1
Sub Type Totals: Single Family Residence460,000470,000295950

 

SUN VALLEY CONDO STATISTICS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley11092-1665684486229
Hailey222618142150121525
Ketchum1451471859916606711
South of Ketchum02+02+02+
North of Ketchum01+01+01+
Sun Valley55561354117253332
Warm Springs in Ketchum5755-33231-3242920
Sub Type Totals: Condominium389379-22312631316920923
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley48622917,304,70022,007,42527360,515354,958-1
Hailey914551,701,0003,123,30083189,000223,09318
Ketchum6367655,817,00046,873,353-16885,984699,602-21
South of Ketchum02+0323,000+0161,500+
North of Ketchum01+01,775,000+01,775,000+
Sun Valley24312911,228,36917,081,00052467,849551,00017
Warm Springs in Ketchum2628711,098,50011,984,9997426,865428,0360
Sub Type Totals: Condominium1702052097,149,569103,168,0776571,468503,259-11
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley300,000295,000-196971
Hailey204,500220,000797970
Ketchum530,000455,000-1496960
South of Ketchum0161,500+0101+
North of Ketchum01,775,000+096+
Sun Valley387,500498,0002895983
Warm Springs in Ketchum357,500317,500-1194940
Sub Type Totals: Condominium332,500350,000596971

SUN VALLEY TOWNHOUSE STATISTICS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110110110
Elkhorn in Sun Valley2618-30157-531211-8
Hailey6854-206342-334637-19
Ketchum6843-364022-452923-20
South of Ketchum10-000000
Other31-6631-6610-
Sun Valley710427704650
Warm Springs in Ketchum202840112190117-36
Sub Type Totals: Townhouse194155-20140101-2710485-18
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110186,500277,00048186,500277,00048
Elkhorn in Sun Valley1311-159,542,1009,983,5004734,008907,59123
Hailey4030-259,832,2596,950,500-29245,806231,683-5
Ketchum2823-1723,327,00027,051,50015833,1071,176,15241
South of Ketchum000000000
Other10-135,0000-135,0000-
Sun Valley35662,179,0004,771,875118726,333954,37531
Warm Springs in Ketchum117-368,245,0004,836,500-41749,545690,929-7
Sub Type Totals: Townhouse9777-2053,446,85953,870,8750550,999699,62226
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue186,500277,0004899980
Elkhorn in Sun Valley522,5001,010,0009394930
Hailey228,000227,00009998-1
Ketchum707,500728,750395971
South of Ketchum000000
Other135,0000-100980-
Sun Valley474,000515,00089795-2
Warm Springs in Ketchum787,000725,000-794961
Sub Type Totals: Townhouse380,000455,000199796-1
Respectfully submitted,
Sheila Liermann | Sun Valley Real Estate Broker 

Information is deemed to be reliable, but is not guaranteed. © 2018 MLS and FBS. Prepared by Sheila Liermann, Associate Broker | Principal, AB, GRI, SFR on Monday, November 05, 2018 6:07 PM.