2018 Sun Valley Real Estate Statistics
Comparing 2018 with 2017
This blog post will look at the change in median price of Sun Valley property from 2017 to 2018 across the various locations in the Sun Valley MLS. A lot of factors go into a change in any real estate market, most particularly inventory levels, the number of sales, interest rates, and the local and national economy. Pending or under contract sales help us project into the future. Some of these numbers are highlighted below.
If you want the complete picture of the market across all areas and neighborhoods in the Sun Valley, Elkhorn, Ketchum, Hailey and Bellevue areas, please scroll down to the charts which reveal active listings, sold volume, average and median sale price, and percentage of listing price, and more.
What's Up?
SUN VALLEY RESIDENTIAL HOME MARKET
- Entire MLS: The median price of a home across the entire Sun Valley MLS rose in value from $450,000 in 2017 to $460,000 in 2018, an increase of 2%.
- Hailey: The median price of a home in Hailey moved from $360,000 in 2017 to $390,000 by December 31, 2018, or an increase of 8%.
- 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.
- The median price of a home in Sun Valley (excluding Elkhorn) rose from $1,750,000 to $1,845,000, an increase of 5%.
- The number of single-family homes in the entire Sun Valley MLS that went pending/under contract as of December 31, 2018 was 451, compared to 395 last December, or an increase of 14%.
- One presumes that this increase in pending deals will put an upward push on prices moving forward.
- All areas except Bellevue and Sun Valley enjoyed increased sales of residential homes last year. Overall across the entire Sun Valley MLS there were 392 sales in 2017 compared to 425 in 2018, a bump of 8%
CONDOMINIUM STATISTICS
- Entire MLS: During 2018 the median price of a condo across the entire Sun Valley MLS increased 10% over 2017, moving from $330,000 to $365,000.
- Only two areas saw appreciation comparing 2018 with 2017.
- Hailey: The median price of a condo in Hailey increased from $206,000 in 2017 to $220,000 in 2018, or an increase of 6%.
- Sun Valley (excluding Elkhorn) Condos increased in value by 20% with the median price moving from $412,500 to $498,000.
TOWNHOUSE NUMBERS
- The entire Sun Valley MLS: The median price of a townhouse in the Sun Valley MLS rose 19% from $370,000 to $442,500.
- Sun Valley townhouses saw an increase in median price from $439,500 to $525,000, or an increase of 17%.
- Elkhorn in Sun Valley townhouses saw an increase in median price from $522,500 to $1,010,000 for a 93% increase. I wouldn't necessarily hang my hat on this great percentage increase due to the fact that there were only 15 townhouse sales in Sun Valley in 2018 and just 13 in 2017. In other words, this percentage increase may be an anomaly and not a statistical trend.
- Ketchum townhomes increased in value from $730,000 to $761,250.
- Hailey townhomes increased in value from $225,000 in 2017 to $227,500, or a bump of 1%. Hailey witnessed the greatest number of townhouses sales of any area in our MLS with a total of 38 sales.
RESIDENTIAL LAND
Land sales across all areas of the Sun Valley MLS increased from 141 sales in 2017 to 146 sales in 2018, a jump of 3%. However, the median price dipped from $137,995 to $122,000, a decrease of 11%. 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%. This statistic excludes Elkhorn, which is technically in the City of Sun Valley, but is broken out as a separate area for this analysis.
- The median price of a home North of Ketchum was $1,262,500 in 2017 and as of December 31, 2018 the median price was $955,000, or a slide of 24%.
- Ketchum homes prices ended 2018 down 21% from $1587,500 to $1,250,000.
- Elkhorn prices decreased 5%, moving from $1,282,500 in 2017 to $1,212,500 in 2018.
- The median price of a home in Bellevue took a 3% hit in 2018. As of December 31,2017 the median price was $318,000 and in 2018 that number was $307,500.
CONDOMINIUM STATISTICS
- The median price of a Ketchum, Idaho, condo slid 13% moving from $525,000 to $452,450.
- The value of condos in Warm Springs dropped 10% with a change in median price from $357,500 in 2017 to $320,000 in 2018.
- Condos in Elkhorn in Sun Valley changed in median value from $298,000 to $296,00.
TOWNHOUSE NUMBERS
The only townhouses to see a decline in median price were those in Warm Springs, moving from $823,500 to 595,000, of a decrease of 27%. Again, this may not be statistically significant due to the fact that we aren't dealing with a big pool of numbers. There were only 8 townhouse sales in Warm Springs in 2018.
For a complete picture of the entire Sun Valley real estate market, please scroll down for the charts.
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RESIDENTIAL HOME STATISTICS FOR THE SUN VALLEY MLS
Comparing 2018 with 2017
| Total Active | New Listings | Number Under Contract | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 106 | 89 | -16 | 80 | 61 | -23 | 47 | 43 | -8 |
| Elkhorn in Sun Valley | 75 | 68 | -9 | 49 | 33 | -32 | 19 | 25 | 31 |
| Hailey | 248 | 272 | 9 | 200 | 214 | 7 | 142 | 173 | 21 |
| Ketchum | 102 | 118 | 15 | 64 | 78 | 21 | 30 | 25 | -16 |
| Mackay | 2 | 11 | 450 | 1 | 9 | 800 | 0 | 4 | + |
| South of Ketchum | 185 | 175 | -5 | 115 | 114 | 0 | 44 | 51 | 15 |
| North of Ketchum | 55 | 50 | -9 | 33 | 23 | -30 | 10 | 24 | 140 |
| Other | 130 | 91 | -30 | 72 | 47 | -34 | 44 | 42 | -4 |
| Stanley Basin | 5 | 11 | 120 | 4 | 7 | 75 | 1 | 4 | 300 |
| South Blaine Co | 34 | 38 | 11 | 27 | 30 | 11 | 16 | 17 | 6 |
| Sun Valley | 70 | 43 | -38 | 39 | 21 | -46 | 21 | 17 | -19 |
| Warm Springs in Ketchum | 71 | 71 | 0 | 45 | 41 | -8 | 21 | 26 | 23 |
| Sub Type Totals: Single Family Residence | 1083 | 1037 | -4 | 729 | 678 | -6 | 395 | 451 | 14 |
| Number Sold | Sold Volume | Average Sale Price | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 45 | 42 | -6 | 15,361,850 | 15,877,170 | 3 | 341,374 | 378,028 | 10 |
| Elkhorn in Sun Valley | 18 | 20 | 11 | 26,639,678 | 28,328,000 | 6 | 1,479,982 | 1,416,400 | -4 |
| Hailey | 135 | 165 | 22 | 57,559,605 | 76,282,375 | 32 | 426,367 | 462,317 | 8 |
| Ketchum | 30 | 19 | -36 | 78,466,000 | 37,335,000 | -52 | 2,615,533 | 1,965,000 | -24 |
| Mackay | 0 | 4 | + | 0 | 790,000 | + | 0 | 197,500 | + |
| South of Ketchum | 43 | 51 | 18 | 63,003,661 | 68,229,500 | 8 | 1,465,201 | 1,337,833 | -8 |
| North of Ketchum | 11 | 24 | 118 | 18,757,500 | 33,778,467 | 80 | 1,705,227 | 1,407,436 | -17 |
| Other | 46 | 40 | -13 | 8,933,909 | 14,134,700 | 58 | 194,215 | 353,368 | 81 |
| Stanley Basin | 0 | 4 | + | 0 | 3,070,000 | + | 0 | 767,500 | + |
| South Blaine Co | 18 | 17 | -5 | 5,728,553 | 6,965,470 | 21 | 318,253 | 409,734 | 28 |
| Sun Valley | 23 | 14 | -39 | 42,615,000 | 36,684,000 | -13 | 1,852,826 | 2,620,286 | 41 |
| Warm Springs in Ketchum | 23 | 25 | 8 | 22,824,326 | 43,483,000 | 90 | 992,362 | 1,739,320 | 75 |
| Sub Type Totals: Single Family Residence | 392 | 425 | 8 | 339,890,082 | 364,957,682 | 7 | 867,067 | 858,724 | 0 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 318,000 | 307,750 | -3 | 96 | 96 | 0 |
| Elkhorn in Sun Valley | 1,282,500 | 1,212,500 | -5 | 96 | 94 | -1 |
| Hailey | 360,000 | 390,000 | 8 | 97 | 98 | 0 |
| Ketchum | 1,587,500 | 1,250,000 | -21 | 93 | 97 | 3 |
| Mackay | 0 | 175,000 | + | 0 | 97 | + |
| South of Ketchum | 931,250 | 1,100,000 | 18 | 96 | 94 | -1 |
| North of Ketchum | 1,262,500 | 955,000 | -24 | 91 | 93 | 2 |
| Other | 140,000 | 215,500 | 53 | 94 | 94 | 0 |
| Stanley Basin | 0 | 710,000 | + | 0 | 98 | + |
| South Blaine Co | 208,000 | 216,423 | 4 | 97 | 93 | -3 |
| Sun Valley | 1,750,000 | 1,845,000 | 5 | 90 | 91 | 0 |
| Warm Springs in Ketchum | 795,000 | 1,500,000 | 88 | 96 | 94 | -2 |
| Sub Type Totals: Single Family Residence | 450,000 | 460,000 | 2 | 95 | 95 | 0 |
CONDO STATISTICS FOR THE SUN VALLEY MLS
Comparing 2018 with 2017
| 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 | 119 | 100 | -15 | 74 | 76 | 2 | 59 | 71 | 20 |
| Hailey | 24 | 30 | 25 | 16 | 25 | 56 | 12 | 16 | 33 |
| Ketchum | 154 | 158 | 2 | 94 | 110 | 17 | 70 | 76 | 8 |
| South of Ketchum | 0 | 2 | + | 0 | 2 | + | 0 | 2 | + |
| North of Ketchum | 0 | 1 | + | 0 | 1 | + | 0 | 1 | + |
| Sun Valley | 62 | 62 | 0 | 42 | 47 | 11 | 28 | 35 | 25 |
| Warm Springs in Ketchum | 66 | 63 | -4 | 41 | 39 | -4 | 27 | 30 | 11 |
| Sub Type Totals: Condominium | 425 | 416 | -2 | 267 | 300 | 12 | 196 | 231 | 17 |
| 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 | 56 | 67 | 19 | 19,604,300 | 24,562,175 | 25 | 350,077 | 366,600 | 4 |
| Hailey | 12 | 16 | 33 | 2,368,000 | 3,497,300 | 47 | 197,333 | 218,581 | 10 |
| Ketchum | 71 | 74 | 4 | 58,674,500 | 49,572,853 | -15 | 826,401 | 669,903 | -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 | 35 | 25 | 13,050,869 | 19,220,000 | 47 | 466,102 | 549,143 | 17 |
| Warm Springs in Ketchum | 28 | 29 | 3 | 11,813,500 | 12,424,999 | 5 | 421,911 | 428,448 | 1 |
| Sub Type Totals: Condominium | 195 | 224 | 14 | 105,511,169 | 111,375,327 | 5 | 541,083 | 497,211 | -8 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Elkhorn in Sun Valley | 298,000 | 296,000 | 0 | 96 | 97 | 1 |
| Hailey | 206,250 | 220,000 | 6 | 97 | 97 | 0 |
| Ketchum | 525,000 | 452,450 | -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 | 498,000 | 20 | 95 | 98 | 2 |
| Warm Springs in Ketchum | 357,500 | 320,000 | -10 | 94 | 94 | 0 |
| Sub Type Totals: Condominium | 330,000 | 365,000 | 10 | 96 | 97 | 1 |
TOWNHOUSE STATISTICS FOR THE SUN VALLEY MLS
Comparing 2018 with 2017
| 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 | 27 | 18 | -33 | 16 | 7 | -56 | 13 | 12 | -7 |
| Hailey | 71 | 56 | -21 | 66 | 44 | -33 | 51 | 42 | -17 |
| Ketchum | 69 | 46 | -33 | 41 | 25 | -39 | 31 | 26 | -16 |
| South of Ketchum | 1 | 0 | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Other | 3 | 1 | -66 | 3 | 1 | -66 | 1 | 0 | - |
| Sun Valley | 8 | 11 | 37 | 8 | 8 | 0 | 4 | 8 | 100 |
| Warm Springs in Ketchum | 23 | 29 | 26 | 14 | 22 | 57 | 11 | 8 | -27 |
| Sub Type Totals: Townhouse | 203 | 162 | -20 | 149 | 108 | -27 | 112 | 97 | -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 | 15 | 15 | 9,542,100 | 13,133,500 | 37 | 734,008 | 875,567 | 19 |
| Hailey | 46 | 38 | -17 | 10,967,259 | 8,995,500 | -17 | 238,419 | 236,724 | 0 |
| Ketchum | 30 | 25 | -16 | 33,058,000 | 29,526,500 | -10 | 1,101,933 | 1,181,060 | 7 |
| South of Ketchum | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other | 1 | 0 | - | 135,000 | 0 | - | 135,000 | 0 | - |
| Sun Valley | 4 | 7 | 75 | 2,579,000 | 7,160,875 | 177 | 644,750 | 1,022,982 | 58 |
| Warm Springs in Ketchum | 12 | 8 | -33 | 9,395,000 | 5,301,500 | -43 | 782,917 | 662,688 | -15 |
| Sub Type Totals: Townhouse | 107 | 94 | -12 | 65,862,859 | 64,394,875 | -2 | 615,541 | 685,052 | 11 |
| 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 | 730,000 | 761,250 | 4 | 95 | 97 | 2 |
| South of Ketchum | 0 | 0 | 0 | 0 | 0 | 0 |
| Other | 135,000 | 0 | -100 | 98 | 0 | - |
| Sun Valley | 439,500 | 515,000 | 17 | 96 | 95 | 0 |
| Warm Springs in Ketchum | 823,500 | 595,000 | -27 | 95 | 96 | 1 |
| Sub Type Totals: Townhouse | 370,000 | 442,500 | 19 | 97 | 96 | -1 |
VACANT LAND STATISTICS FOR THE SUN VALLEY MLS
Comparing 2018 with 2017
| Total Active | New Listings | Number Under Contract | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 57 | 67 | 17 | 34 | 30 | -11 | 8 | 11 | 37 |
| Elkhorn in Sun Valley | 30 | 32 | 6 | 15 | 15 | 0 | 3 | 2 | -33 |
| Hailey | 181 | 228 | 25 | 116 | 123 | 6 | 42 | 43 | 2 |
| Ketchum | 19 | 27 | 42 | 7 | 20 | 185 | 8 | 4 | -50 |
| Mackay | 0 | 11 | + | 0 | 11 | + | 0 | 1 | + |
| South of Ketchum | 155 | 132 | -14 | 88 | 56 | -36 | 21 | 21 | 0 |
| North of Ketchum | 39 | 28 | -28 | 14 | 8 | -42 | 8 | 5 | -37 |
| Other | 176 | 146 | -17 | 86 | 67 | -22 | 35 | 47 | 34 |
| South Blaine Co | 67 | 71 | 5 | 38 | 33 | -13 | 13 | 17 | 30 |
| Stanley Basin | 2 | 9 | 350 | 1 | 7 | 600 | 0 | 3 | + |
| Sun Valley | 45 | 33 | -26 | 28 | 11 | -60 | 7 | 5 | -28 |
| Warm Springs in Ketchum | 38 | 44 | 15 | 19 | 24 | 26 | 2 | 6 | 200 |
| Sub Type Totals: Residential Land | 809 | 828 | 2 | 446 | 405 | -9 | 147 | 165 | 12 |
| 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 | 10 | 0 | 1,278,500 | 1,094,500 | -14 | 127,850 | 109,450 | -14 |
| Elkhorn in Sun Valley | 3 | 1 | -66 | 2,112,000 | 315,000 | -85 | 704,000 | 315,000 | -55 |
| Hailey | 38 | 37 | -2 | 5,990,961 | 5,840,860 | -2 | 157,657 | 157,861 | 0 |
| Ketchum | 5 | 5 | 0 | 3,237,000 | 13,250,000 | 309 | 647,400 | 2,650,000 | 309 |
| Mackay | 0 | 1 | + | 0 | 38,380 | + | 0 | 38,380 | + |
| South of Ketchum | 23 | 14 | -39 | 8,231,000 | 4,241,500 | -48 | 357,870 | 302,964 | -15 |
| North of Ketchum | 6 | 5 | -16 | 12,255,000 | 6,550,000 | -46 | 2,042,500 | 1,310,000 | -35 |
| Other | 34 | 45 | 32 | 3,108,723 | 3,163,030 | 1 | 91,433 | 70,290 | -23 |
| South Blaine Co | 13 | 15 | 15 | 1,116,000 | 1,456,900 | 30 | 85,846 | 97,127 | 13 |
| 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 | 5 | 66 | 978,500 | 2,869,000 | 193 | 326,167 | 573,800 | 75 |
| Sub Type Totals: Residential Land | 141 | 146 | 3 | 44,894,684 | 46,054,170 | 2 | 318,402 | 315,440 | 0 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 134,250 | 92,500 | -31 | 89 | 95 | 5 |
| Elkhorn in Sun Valley | 630,000 | 315,000 | -50 | 87 | 80 | -7 |
| Hailey | 133,500 | 122,500 | -8 | 93 | 93 | 0 |
| Ketchum | 557,000 | 2,537,500 | 355 | 94 | 90 | -4 |
| Mackay | 0 | 38,380 | + | 0 | 82 | + |
| South of Ketchum | 305,000 | 222,500 | -27 | 92 | 91 | -1 |
| North of Ketchum | 1,865,000 | 1,392,000 | -25 | 92 | 87 | -5 |
| Other | 46,000 | 33,000 | -28 | 93 | 89 | -3 |
| South Blaine Co | 75,000 | 99,000 | 32 | 85 | 91 | 7 |
| 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 | 481,000 | 31 | 94 | 86 | -9 |
| Sub Type Totals: Residential Land | 137,995 | 122,000 | -11 | 91 | 88 | -3 |
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It is my hope that by providing up-to-date real estate statistics and trends for the Sun Valley real estate market that buyers, sellers and investors can make an informed decision.
If you are interested in buying, selling or investing in the Sun Valley real estate market, please give me a call. And if you need information about a specific neighborhood in Sun Valley, Ketchum, Hailey or Stanley, just ask.
Respectfully submitted,
Sheila Liermann
Sun Valley Real Estate Broker | Partner in Keller Williams Sun Valley Southern Idaho
208.481.0450
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