Latest Sun Valley Real Estate Statistics 

Year Over Year Comparison

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?

The Median Price of a home in Sun valley is tending 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?

The Median Price Trends in the Sun Valley MLS

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 ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue10285-167657-254441-6
Elkhorn in Sun Valley7366-94731-34192215
Hailey234263121862051013816620
Ketchum98113156073212724-11
Mackay2104001870004+
South of Ketchum180166-7110105-4415124
North of Ketchum5448-113221-341024140
Other12891-287047-324340-6
Stanley Basin511120477514300
South Blaine Co33381526301516176
Sun Valley6841-393719-482114-33
Warm Springs in Ketchum676814138-7212519
Sub Type Totals: Single Family Residence10441000-4690641-738143213
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue4039-213,583,85014,920,1709339,596382,56812
Elkhorn in Sun Valley18201126,639,67828,328,00061,479,9821,416,400-4
Hailey1321551756,599,60571,178,37525428,785459,2157
Ketchum2717-3768,178,50035,530,000-472,525,1302,090,000-17
Mackay04+0790,000+0197,500+
South of Ketchum43491363,003,66165,344,50031,465,2011,333,561-8
North of Ketchum112411818,757,50033,778,467801,705,2271,407,436-17
Other4438-138,618,90913,486,20056195,884354,90081
Stanley Basin04+03,070,000+0767,500+
South Blaine Co1514-64,816,5535,851,47021321,104417,96230
Sun Valley1913-3137,411,00033,684,000-91,969,0002,591,07731
Warm Springs in Ketchum21251921,249,32643,483,0001041,011,8731,739,32071
Sub Type Totals: Single Family Residence3704028318,858,582349,444,1829861,780869,2640
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue319,000307,500-397960
Elkhorn in Sun Valley1,282,5001,212,500-59694-1
Hailey362,350390,000797980
Ketchum1,400,0001,350,000-394973
Mackay0175,000+097+
South of Ketchum931,2501,100,000189695-1
North of Ketchum1,262,500955,000-2491932
Other140,000203,0004594940
Stanley Basin0710,000+098+
South Blaine Co205,000215,71159692-4
Sun Valley1,875,0001,640,000-1292920
Warm Springs in Ketchum795,0001,500,000889694-2
Sub Type Totals: Single Family Residence450,000467,500395950

SUN VALLEY CONDO MARKET 

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley11798-1672742526525
Hailey232821152353121633
Ketchum1471544871062165719
South of Ketchum02+02+02+
North of Ketchum01+01+01+
Sun Valley58615384621273425
Warm Springs in Ketchum5957-33433-2262911
Sub Type Totals: Condominium40440102462851518221819
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley53642018,741,30022,661,42520353,609354,0850
Hailey1115362,108,0003,272,30055191,636218,15313
Ketchum6770456,820,00048,184,853-15848,060688,355-18
South of Ketchum02+0323,000+0161,500+
North of Ketchum01+01,775,000+01,775,000+
Sun Valley28342113,050,86918,521,00041466,102544,73516
Warm Springs in Ketchum26291111,098,50012,424,99911426,865428,4480
Sub Type Totals: Condominium18521516101,818,669107,162,5775550,371498,431-9
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley300,000295,000-196971
Hailey204,500218,000697970
Ketchum525,000455,000-1396960
South of Ketchum0161,500+0101+
North of Ketchum01,775,000+096+
Sun Valley412,500494,0001995982
Warm Springs in Ketchum357,500320,000-1094940
Sub Type Totals: Condominium330,000357,500896971

SUN VALLEY TOWNHOUSE MARKET

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110110110
Elkhorn in Sun Valley2618-30157-5312120
Hailey6856-176344-304940-18
Ketchum6945-344124-413025-16
South of Ketchum10-000000
Other31-6631-6610-
Sun Valley8102587-124775
Warm Springs in Ketchum222827132161118-27
Sub Type Totals: Townhouse198159-19144105-2710893-13
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110186,500277,00048186,500277,00048
Elkhorn in Sun Valley131309,542,10011,613,50021734,008893,34621
Hailey4338-1110,371,2598,995,500-13241,192236,724-1
Ketchum2923-2028,064,00027,051,500-3967,7241,176,15221
South of Ketchum000000000
Other10-135,0000-135,0000-
Sun Valley361002,179,0006,721,875208726,3331,120,31254
Warm Springs in Ketchum127-419,395,0004,836,500-48782,917690,929-11
Sub Type Totals: Townhouse10288-1359,872,85959,495,8750586,989676,08915
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue186,500277,0004899980
Elkhorn in Sun Valley522,5001,010,0009394940
Hailey225,000227,50019997-1
Ketchum715,000728,750195972
South of Ketchum000000
Other135,0000-100980-
Sun Valley474,0001,080,9381289795-2
Warm Springs in Ketchum823,500725,000-1195961
Sub Type Totals: Townhouse375,000430,000149796-1

SUN VALLEY VACANT LAND MARKET

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue5664143327-188912
Elkhorn in Sun Valley303261515031-66
Hailey1792192211411403938-2
Ketchum19274272018584-50
Mackay011+011+01+
South of Ketchum151128-158452-382120-4
North of Ketchum3928-28148-4275-28
Other175146-168567-21334639
South Blaine Co6763-53825-34131515
Stanley Basin293501760003+
Sun Valley4332-252610-6174-42
Warm Springs in Ketchum38431319232125150
Sub Type Totals: Residential Land7998020436379-131411517
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue108-201,278,500918,500-28127,850114,812-10
Elkhorn in Sun Valley31-662,112,000315,000-85704,000315,000-55
Hailey3431-85,322,9615,180,860-2156,558167,1256
Ketchum54-203,237,00012,175,000276647,4003,043,750370
Mackay01+038,380+038,380+
South of Ketchum2213-407,156,0004,016,500-43325,273308,962-5
North of Ketchum65-1612,255,0006,550,000-462,042,5001,310,000-35
Other3242312,530,3232,753,030879,07365,548-17
South Blaine Co12138851,0001,326,9005570,917102,06943
Stanley Basin03+0620,000+0206,667+
Sun Valley65-166,587,0006,615,00001,097,8331,323,00020
Warm Springs in Ketchum3433978,5001,819,00085326,167454,75039
Sub Type Totals: Residential Land133130-242,308,28442,328,1700318,107325,6012

 

 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue134,250107,500-1989945
Elkhorn in Sun Valley630,000315,000-508780-7
Hailey131,000130,000094951
Ketchum557,0002,600,0003669492-2
Mackay038,380+082+
South of Ketchum300,000220,000-269291-1
North of Ketchum1,865,0001,392,000-259287-5
Other46,00033,000-289289-3
South Blaine Co72,500100,0003784906
Stanley Basin0200,000+085+
Sun Valley1,000,0001,150,0001590933
Warm Springs in Ketchum365,500465,500279489-6
Sub Type Totals: Residential Land135,000124,000-89189-2

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.