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?

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

 

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%. 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 ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue10689-168061-234743-8
Elkhorn in Sun Valley7568-94933-32192531
Hailey2482729200214714217321
Ketchum102118156478213025-16
Mackay2114501980004+
South of Ketchum185175-51151140445115
North of Ketchum5550-93323-301024140
Other13091-307247-344442-4
Stanley Basin511120477514300
South Blaine Co34381127301116176
Sun Valley7043-383921-462117-19
Warm Springs in Ketchum717104541-8212623
Sub Type Totals: Single Family Residence10831037-4729678-639545114
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue4542-615,361,85015,877,1703341,374378,02810
Elkhorn in Sun Valley18201126,639,67828,328,00061,479,9821,416,400-4
Hailey1351652257,559,60576,282,37532426,367462,3178
Ketchum3019-3678,466,00037,335,000-522,615,5331,965,000-24
Mackay04+0790,000+0197,500+
South of Ketchum43511863,003,66168,229,50081,465,2011,337,833-8
North of Ketchum112411818,757,50033,778,467801,705,2271,407,436-17
Other4640-138,933,90914,134,70058194,215353,36881
Stanley Basin04+03,070,000+0767,500+
South Blaine Co1817-55,728,5536,965,47021318,253409,73428
Sun Valley2314-3942,615,00036,684,000-131,852,8262,620,28641
Warm Springs in Ketchum2325822,824,32643,483,00090992,3621,739,32075
Sub Type Totals: Single Family Residence3924258339,890,082364,957,6827867,067858,7240
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue318,000307,750-396960
Elkhorn in Sun Valley1,282,5001,212,500-59694-1
Hailey360,000390,000897980
Ketchum1,587,5001,250,000-2193973
Mackay0175,000+097+
South of Ketchum931,2501,100,000189694-1
North of Ketchum1,262,500955,000-2491932
Other140,000215,5005394940
Stanley Basin0710,000+098+
South Blaine Co208,000216,42349793-3
Sun Valley1,750,0001,845,000590910
Warm Springs in Ketchum795,0001,500,000889694-2
Sub Type Totals: Single Family Residence450,000460,000295950

CONDO STATISTICS FOR THE SUN VALLEY MLS 

Comparing 2018 with 2017
 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley119100-1574762597120
Hailey243025162556121633
Ketchum1541582941101770768
South of Ketchum02+02+02+
North of Ketchum01+01+01+
Sun Valley62620424711283525
Warm Springs in Ketchum6663-44139-4273011
Sub Type Totals: Condominium425416-22673001219623117
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley56671919,604,30024,562,17525350,077366,6004
Hailey1216332,368,0003,497,30047197,333218,58110
Ketchum7174458,674,50049,572,853-15826,401669,903-18
South of Ketchum02+0323,000+0161,500+
North of Ketchum01+01,775,000+01,775,000+
Sun Valley28352513,050,86919,220,00047466,102549,14317
Warm Springs in Ketchum2829311,813,50012,424,9995421,911428,4481
Sub Type Totals: Condominium19522414105,511,169111,375,3275541,083497,211-8
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley298,000296,000096971
Hailey206,250220,000697970
Ketchum525,000452,450-1396960
South of Ketchum0161,500+0101+
North of Ketchum01,775,000+096+
Sun Valley412,500498,0002095982
Warm Springs in Ketchum357,500320,000-1094940
Sub Type Totals: Condominium330,000365,0001096971

TOWNHOUSE STATISTICS FOR THE SUN VALLEY MLS 

Comparing 2018 with 2017
 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110110110
Elkhorn in Sun Valley2718-33167-561312-7
Hailey7156-216644-335142-17
Ketchum6946-334125-393126-16
South of Ketchum10000000
Other31-6631-6610
Sun Valley8113788048100
Warm Springs in Ketchum232926142257118-27
Sub Type Totals: Townhouse203162-20149108-2711297-13
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110186,500277,00048186,500277,00048
Elkhorn in Sun Valley1315159,542,10013,133,50037734,008875,56719
Hailey4638-1710,967,2598,995,500-17238,419236,7240
Ketchum3025-1633,058,00029,526,500-101,101,9331,181,0607
South of Ketchum000000000
Other10135,0000135,0000
Sun Valley47752,579,0007,160,875177644,7501,022,98258
Warm Springs in Ketchum128-339,395,0005,301,500-43782,917662,688-15
Sub Type Totals: Townhouse10794-1265,862,85964,394,875-2615,541685,05211
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue186,500277,0004899980
Elkhorn in Sun Valley522,5001,010,0009394940
Hailey225,000227,50019997-1
Ketchum730,000761,250495972
South of Ketchum000000
Other135,0000-100980
Sun Valley439,500515,0001796950
Warm Springs in Ketchum823,500595,000-2795961
Sub Type Totals: Townhouse370,000442,500199796-1

VACANT LAND STATISTICS FOR THE SUN VALLEY MLS 

Comparing 2018 with 2017
 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue5767173430-1181137
Elkhorn in Sun Valley303261515032-33
Hailey18122825116123642432
Ketchum19274272018584-50
Mackay011+011+01+
South of Ketchum155132-148856-3621210
North of Ketchum3928-28148-4285-37
Other176146-178667-22354734
South Blaine Co677153833-13131730
Stanley Basin293501760003+
Sun Valley4533-262811-6075-28
Warm Springs in Ketchum38441519242626200
Sub Type Totals: Residential Land8098282446405-914716512


 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue101001,278,5001,094,500-14127,850109,450-14
Elkhorn in Sun Valley31-662,112,000315,000-85704,000315,000-55
Hailey3837-25,990,9615,840,860-2157,657157,8610
Ketchum5503,237,00013,250,000309647,4002,650,000309
Mackay01+038,380+038,380+
South of Ketchum2314-398,231,0004,241,500-48357,870302,964-15
North of Ketchum65-1612,255,0006,550,000-462,042,5001,310,000-35
Other3445323,108,7233,163,030191,43370,290-23
South Blaine Co1315151,116,0001,456,9003085,84697,12713
Stanley Basin03+0620,000+0206,667+
Sun Valley65-166,587,0006,615,00001,097,8331,323,00020
Warm Springs in Ketchum3566978,5002,869,000193326,167573,80075
Sub Type Totals: Residential Land141146344,894,68446,054,1702318,402315,4400


 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue134,25092,500-3189955
Elkhorn in Sun Valley630,000315,000-508780-7
Hailey133,500122,500-893930
Ketchum557,0002,537,5003559490-4
Mackay038,380+082+
South of Ketchum305,000222,500-279291-1
North of Ketchum1,865,0001,392,000-259287-5
Other46,00033,000-289389-3
South Blaine Co75,00099,0003285917
Stanley Basin0200,000+085+
Sun Valley1,000,0001,150,0001590933
Warm Springs in Ketchum365,500481,000319486-9
Sub Type Totals: Residential Land137,995122,000-119188-3

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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