Latest Sun Valley Real Estate Statistics

Latest Sun Valley Real Estate Statistics 

This Year: 1/1/2018 to 11/30/2018
Last Year: 1/1/2017 to 11/30/2017

A FEW STAND-OUT NUMBERS

What’s Up? What’s Down? 

This blog post will look at the change in median price over November of 2017. A lot of factors go into a change in the market, most particularly inventory levels, the number of sales and the local and national economy. Pending or under contract sales help us project into the future. If you want the complete picture of the market, scroll down to the charts which reveal active listings, days on market, sold volume, average and median sale price, and percentage of listing price, and more. 

What’s Up?

RESIDENTIAL HOME MARKET

• Entire MLS: The median price of a home across the entire Sun Valley MLS rose in value from $450,000 as of November 30, 2017 to $467,500 as of November 30, 2018, or an increase of 3%. 
• Hailey: The median price of a home in Hailey moved from $362,350 as of November 30, 2017 to $390,000 this year, or an increase of 7%.
• The median price of a home in the area our Sun Valley MLS defines as “South of Ketchum” (literally south of Ketchum and north of Hailey) increased from $931,250 last year to $1,100,000 this year, or an increase of 18%. 
• Warm Springs in Ketchum continues to see formidable appreciation with the median price increasing from $795,000 to $1,500,000, or a whopping 88% increase. 

CONDOMINIUM STATISTICS

• Entire MLS: The median price of a condo across the entire Sun Valley MLS increased 8% over last year, moving from $330,000 to $357,000.
• Only two areas saw appreciation this YTD over last YTD. 
• Hailey: The median price of a condo in Hailey increased from $204,500 last YTD to $218,000 this YTD, or an increase of 6%. 
• Sun Valley (excluding Elkhorn) Condos increased in value by 19% with the median price moving from $412,500 to $494,000. 

TOWNHOUSE NUMBERS

• Entire Sun Valley MLS: The median price of a townhouse in the Sun Valley MLS rose 14% from $375,000 to $430,000.
• Sun Valley townhouses saw an increase in median price from $474,000 to $1,080,938, or an increase of 128%. A word of caution about this statistic — there have only been 7 townhouse sales this year. That small number of sales may not provide a degree of statistical reassurance that the Sun Valley townhouse market is on a steep upswing. Also, there are only a few townhouse projects in Sun Valley. What this more likely means is that there were more Val D’Sol last year and more Diamond Back Townhouses this year. Val d’Sol townhouses sell in the $400,000 to $500,000 range. Diamond Back’s sell in the $1,600,000 to $1,950,000 range. 
• Elkhorn in Sun Valley townhouses enjoyed an increase in median price from $522,500 to $1,010,000, a 93% increase.

RESIDENTIAL LAND

Only about a 18% of vacant land inventory has been selling over the past several years. If you want the nitty-gritty of vacant land sales by area, please scroll down for the charts.

What’s Down?

RESIDENTIAL HOME MARKET

• Sun Valley median home prices dropped to $1,640,000 from $1,875,000, a decrease of 12%.
• The median price of a home North of Ketchum was $1,262,500 last year and as of November 30th this year the median price was $955,000, or a slide of 24%.
• Ketchum homes prices dropped 3% from $1,400,000 to $1,350,000. 
• Elkhorn prices decreased 5%, moving from $1,282,500 last year to $1,212,500 this year.
• The median price of a home in Bellevue took a 3% hit this year. Last November the median price was $319,000 and this year that number was $307,500.

CONDOMINIUM STATISTICS

• The median price of a Ketchum, Idaho, condo slid 13% moving from $525,000 to $455,000.
• The value of condos in Warm Springs dropped 10% with a change in median price from $357,500 last year to $320,000 this year. 
• Condos in Elkhorn in Sun Valley changed in median value from $300,000 last year to $295,000 this year, or a drop of just 1%.

TOWNHOUSE NUMBERS

The only townhouses to see a decline were in Warm Springs, moving from $823,500 to $725,000, of a decrease of 11%.

For a complete picture of the entire Sun Valley real estate market, please scroll down for the charts. 

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PREDICTING THE FUTURE

THE SUN VALLEY REAL ESTATE MARKET IS STILL LOOKING GOOD 

One indicator of a softening market is how long a property is on the market before it sells. Aside from vacant land sales, Sun Valley real estate is selling at a healthy clip. 

• The Days-on-Market for a single-family home increased from 67 days as of November 30, 2017 to 69 days as of November 30, 2018.  This number represents trends across all price ranges in Blaine County, Idaho. 
• Condos and Townhouses are selling at a faster clip this year, with Days-on-Market down 23.5%. 
• Vacant land sales continue to be plagued by the high cost of construction. The Days-on-Market for vacant land rose a dramatic 164.8% over November of 2017. 

Another crystal ball view of the market is Pending Sales or Under Contract Sales. Again, Sun Valley is looking good.

Check out these 12-month rolling average charts for Days-on-Market and Pending/Under Contract statistics. And keep scrolling down for all of the raw data on the Sun Valley real estate market.

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STATISTICAL CHARTS FOR ALL PROPERTY TYPES ACROSS ALL NEIGHBORHOODS IN THE SUN VALLEY MLS 

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RESIDENTIAL HOME MARKET

	Total Active			New Listings			Number Under Contract
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	102	85	-16	76	57	-25	44	41	-6
Elkhorn in Sun Valley	73	66	-9	47	31	-34	19	22	15
Hailey	234	263	12	186	205	10	138	166	20
Ketchum	98	113	15	60	73	21	27	24	-11
Mackay	2	10	400	1	8	700	0	4	+
South of Ketchum	180	166	-7	110	105	-4	41	51	24
North of Ketchum	54	48	-11	32	21	-34	10	24	140
Other	128	91	-28	70	47	-32	43	40	-6
Stanley Basin	5	11	120	4	7	75	1	4	300
South Blaine Co	33	38	15	26	30	15	16	17	6
Sun Valley	68	41	-39	37	19	-48	21	14	-33
Warm Springs in Ketchum	67	68	1	41	38	-7	21	25	19
Sub Type Totals: Single Family Residence	1044	1000	-4	690	641	-7	381	432	13

	Number Sold			Sold Volume			Average Sale Price
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	40	39	-2	13,583,850	14,920,170	9	339,596	382,568	12
Elkhorn in Sun Valley	18	20	11	26,639,678	28,328,000	6	1,479,982	1,416,400	-4
Hailey	132	155	17	56,599,605	71,178,375	25	428,785	459,215	7
Ketchum	27	17	-37	68,178,500	35,530,000	-47	2,525,130	2,090,000	-17
Mackay	0	4	+	0	790,000	+	0	197,500	+
South of Ketchum	43	49	13	63,003,661	65,344,500	3	1,465,201	1,333,561	-8
North of Ketchum	11	24	118	18,757,500	33,778,467	80	1,705,227	1,407,436	-17
Other	44	38	-13	8,618,909	13,486,200	56	195,884	354,900	81
Stanley Basin	0	4	+	0	3,070,000	+	0	767,500	+
South Blaine Co	15	14	-6	4,816,553	5,851,470	21	321,104	417,962	30
Sun Valley	19	13	-31	37,411,000	33,684,000	-9	1,969,000	2,591,077	31
Warm Springs in Ketchum	21	25	19	21,249,326	43,483,000	104	1,011,873	1,739,320	71
Sub Type Totals: Single Family Residence	370	402	8	318,858,582	349,444,182	9	861,780	869,264	0

	Median Sale Price			Percent of List
Area	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	319,000	307,500	-3	97	96	0
Elkhorn in Sun Valley	1,282,500	1,212,500	-5	96	94	-1
Hailey	362,350	390,000	7	97	98	0
Ketchum	1,400,000	1,350,000	-3	94	97	3
Mackay	0	175,000	+	0	97	+
South of Ketchum	931,250	1,100,000	18	96	95	-1
North of Ketchum	1,262,500	955,000	-24	91	93	2
Other	140,000	203,000	45	94	94	0
Stanley Basin	0	710,000	+	0	98	+
South Blaine Co	205,000	215,711	5	96	92	-4
Sun Valley	1,875,000	1,640,000	-12	92	92	0
Warm Springs in Ketchum	795,000	1,500,000	88	96	94	-2
Sub Type Totals: Single Family Residence	450,000	467,500	3	95	95	0

SUN VALLEY CONDO MARKET 

	Total Active			New Listings			Number Under Contract
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Elkhorn in Sun Valley	117	98	-16	72	74	2	52	65	25
Hailey	23	28	21	15	23	53	12	16	33
Ketchum	147	154	4	87	106	21	65	71	9
South of Ketchum	0	2	+	0	2	+	0	2	+
North of Ketchum	0	1	+	0	1	+	0	1	+
Sun Valley	58	61	5	38	46	21	27	34	25
Warm Springs in Ketchum	59	57	-3	34	33	-2	26	29	11
Sub Type Totals: Condominium	404	401	0	246	285	15	182	218	19

	Number Sold			Sold Volume			Average Sale Price
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Elkhorn in Sun Valley	53	64	20	18,741,300	22,661,425	20	353,609	354,085	0
Hailey	11	15	36	2,108,000	3,272,300	55	191,636	218,153	13
Ketchum	67	70	4	56,820,000	48,184,853	-15	848,060	688,355	-18
South of Ketchum	0	2	+	0	323,000	+	0	161,500	+
North of Ketchum	0	1	+	0	1,775,000	+	0	1,775,000	+
Sun Valley	28	34	21	13,050,869	18,521,000	41	466,102	544,735	16
Warm Springs in Ketchum	26	29	11	11,098,500	12,424,999	11	426,865	428,448	0
Sub Type Totals: Condominium	185	215	16	101,818,669	107,162,577	5	550,371	498,431	-9

	Median Sale Price			Percent of List
Area	Last Year	This Year	PCT	Last Year	This Year	PCT
Elkhorn in Sun Valley	300,000	295,000	-1	96	97	1
Hailey	204,500	218,000	6	97	97	0
Ketchum	525,000	455,000	-13	96	96	0
South of Ketchum	0	161,500	+	0	101	+
North of Ketchum	0	1,775,000	+	0	96	+
Sun Valley	412,500	494,000	19	95	98	2
Warm Springs in Ketchum	357,500	320,000	-10	94	94	0
Sub Type Totals: Condominium	330,000	357,500	8	96	97	1

SUN VALLEY TOWNHOUSE MARKET

	Total Active			New Listings			Number Under Contract
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	1	1	0	1	1	0	1	1	0
Elkhorn in Sun Valley	26	18	-30	15	7	-53	12	12	0
Hailey	68	56	-17	63	44	-30	49	40	-18
Ketchum	69	45	-34	41	24	-41	30	25	-16
South of Ketchum	1	0	–	0	0	0	0	0	0
Other	3	1	-66	3	1	-66	1	0	–
Sun Valley	8	10	25	8	7	-12	4	7	75
Warm Springs in Ketchum	22	28	27	13	21	61	11	8	-27
Sub Type Totals: Townhouse	198	159	-19	144	105	-27	108	93	-13

	Number Sold			Sold Volume			Average Sale Price
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	1	1	0	186,500	277,000	48	186,500	277,000	48
Elkhorn in Sun Valley	13	13	0	9,542,100	11,613,500	21	734,008	893,346	21
Hailey	43	38	-11	10,371,259	8,995,500	-13	241,192	236,724	-1
Ketchum	29	23	-20	28,064,000	27,051,500	-3	967,724	1,176,152	21
South of Ketchum	0	0	0	0	0	0	0	0	0
Other	1	0	–	135,000	0	–	135,000	0	–
Sun Valley	3	6	100	2,179,000	6,721,875	208	726,333	1,120,312	54
Warm Springs in Ketchum	12	7	-41	9,395,000	4,836,500	-48	782,917	690,929	-11
Sub Type Totals: Townhouse	102	88	-13	59,872,859	59,495,875	0	586,989	676,089	15

	Median Sale Price			Percent of List
Area	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	186,500	277,000	48	99	98	0
Elkhorn in Sun Valley	522,500	1,010,000	93	94	94	0
Hailey	225,000	227,500	1	99	97	-1
Ketchum	715,000	728,750	1	95	97	2
South of Ketchum	0	0	0	0	0	0
Other	135,000	0	-100	98	0	–
Sun Valley	474,000	1,080,938	128	97	95	-2
Warm Springs in Ketchum	823,500	725,000	-11	95	96	1
Sub Type Totals: Townhouse	375,000	430,000	14	97	96	-1

SUN VALLEY VACANT LAND MARKET

	Total Active			New Listings			Number Under Contract
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	56	64	14	33	27	-18	8	9	12
Elkhorn in Sun Valley	30	32	6	15	15	0	3	1	-66
Hailey	179	219	22	114	114	0	39	38	-2
Ketchum	19	27	42	7	20	185	8	4	-50
Mackay	0	11	+	0	11	+	0	1	+
South of Ketchum	151	128	-15	84	52	-38	21	20	-4
North of Ketchum	39	28	-28	14	8	-42	7	5	-28
Other	175	146	-16	85	67	-21	33	46	39
South Blaine Co	67	63	-5	38	25	-34	13	15	15
Stanley Basin	2	9	350	1	7	600	0	3	+
Sun Valley	43	32	-25	26	10	-61	7	4	-42
Warm Springs in Ketchum	38	43	13	19	23	21	2	5	150
Sub Type Totals: Residential Land	799	802	0	436	379	-13	141	151	7

	Number Sold			Sold Volume			Average Sale Price
Area	Last Year	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	10	8	-20	1,278,500	918,500	-28	127,850	114,812	-10
Elkhorn in Sun Valley	3	1	-66	2,112,000	315,000	-85	704,000	315,000	-55
Hailey	34	31	-8	5,322,961	5,180,860	-2	156,558	167,125	6
Ketchum	5	4	-20	3,237,000	12,175,000	276	647,400	3,043,750	370
Mackay	0	1	+	0	38,380	+	0	38,380	+
South of Ketchum	22	13	-40	7,156,000	4,016,500	-43	325,273	308,962	-5
North of Ketchum	6	5	-16	12,255,000	6,550,000	-46	2,042,500	1,310,000	-35
Other	32	42	31	2,530,323	2,753,030	8	79,073	65,548	-17
South Blaine Co	12	13	8	851,000	1,326,900	55	70,917	102,069	43
Stanley Basin	0	3	+	0	620,000	+	0	206,667	+
Sun Valley	6	5	-16	6,587,000	6,615,000	0	1,097,833	1,323,000	20
Warm Springs in Ketchum	3	4	33	978,500	1,819,000	85	326,167	454,750	39
Sub Type Totals: Residential Land	133	130	-2	42,308,284	42,328,170	0	318,107	325,601	2

 

	Median Sale Price			Percent of List
Area	Last Year	This Year	PCT	Last Year	This Year	PCT
Bellevue	134,250	107,500	-19	89	94	5
Elkhorn in Sun Valley	630,000	315,000	-50	87	80	-7
Hailey	131,000	130,000	0	94	95	1
Ketchum	557,000	2,600,000	366	94	92	-2
Mackay	0	38,380	+	0	82	+
South of Ketchum	300,000	220,000	-26	92	91	-1
North of Ketchum	1,865,000	1,392,000	-25	92	87	-5
Other	46,000	33,000	-28	92	89	-3
South Blaine Co	72,500	100,000	37	84	90	6
Stanley Basin	0	200,000	+	0	85	+
Sun Valley	1,000,000	1,150,000	15	90	93	3
Warm Springs in Ketchum	365,500	465,500	27	94	89	-6
Sub Type Totals: Residential Land	135,000	124,000	-8	91	89	-2

Respectfully Submitted,
Sheila Liermann | Sun Valley Real Estate Broker 

Call Sheila Liermann if you’d like more information on Sun Valley real estate statistics. And check back each month for an update. 

208.481.0450

Information is deemed to be reliable, but is not guaranteed. © 2018 MLS and FBS. Prepared by Sheila Liermann, Associate Broker | Principal, AB,GRI,SFR.