Q1 Sun Valley Real Estate Statistics 

I am constantly asked, “How’s the Sun Valley real estate market?” I think when people ask about the market what they really want to know is what’s happening to prices.

Obviously, we know the price of real estate is affected by many things, including inventory levels, interest rates, and what’s going on in the national economy or forces beyond Blaine County. 

Prices in Sun Valley are further influenced by location. In other words, if there is a home in the core of Ketchum and if we were to clone that home and plunk it in the mid-valley or southern Blaine County, the home in Ketchum will be of greater value due to its proximity to Baldy and the Sun Valley and Ketchum amenities. 

Today’s analysis is only going to look at median prices, or that price which is smack dab in the middle of a range. A statistician friend told me that the best way to gauge market trends is to look at the median price. Average prices are influenced by very low prices and very high prices, so average statistics are more whimsical than the median.

If you want more detailed analysis, please scroll down to the charts for inventory levels, sold deals, under contract listings, volume, and average sale prices. These charts are segregated by property type and area. 

I did not break out the median prices for vacant land sales in the Sun Valley MLS. For the nitty gritty, scroll down. 

Year Over Year Comparison

This Year: 4/1/2018 to 3/31/2019 

Compared to Last Year: 4/1/2017 to 3/31/2018

So What is Happening in the Sun Valley MLS?

MEDIAN PRICE CHANGES OF SINGLE-FAMILY HOMES:

  • Overall, the median price of a single-family residential home in the entire Sun Valley MLS rose 14%, from $435,000 to $497,500.
  • Prices in Ketchum are in downward trend by 6%. Last year the median sold price of a home was $1,587,000 and this year the price was $1,490,000. Why prices are sliding in Ketchum might be influenced by a higher inventory level, which is up 19%.
  • Warm Springs in Ketchum enjoyed the greatest appreciation with the median price moving from $795,000 to $1,495,000, an increase of 88%.
  • Sun Valley also saw increasing prices with the median price moving from $1,437,500 to $1,640,000 or an increase of 14%.
  • Elkhorn in Sun Valley prices rose 9% from $1,188,500 to $1,305,000.
  • Values in the area we call “South of Ketchum” (literally south of Ketchum and north of Hailey or the area many call the “mid valley) moved from $842,500 to $1,147,000, an increase of 36%. 
  • Hailey, too, is witnessing price appreciation. Prices are up 6%, from $364,700 to $390,000. 
  • Finally, homes in Bellevue are up 8% in price, moving from $310,000 to $335,500.

MEDIAN PRICE CHANGES OF CONDOS: 

  • Overall, the median price of condos in the entire Sun Valley MLS rose 2%, from $345,000 to $352,700.
  • Ketchum is in a downward trend with prices falling 22%. Last year the median sold price of a condo was $545,000 and this year the price was $423,900.
  • Warm Springs in Ketchum condo prices are also sliding, moving from $379,000 to $345,000, or a decrease of 9%. 
  • Sun Valley condos continue to see increasing prices with the median price moving from $435,000 to $477,000, or an increase of 9%.
  • Elkhorn in Sun Valley prices rose 9% from $296,000 to $325,000. 
  • There are only about five condos in the South of Ketchum area, so I don’t think the numbers for that area are statistically significant.  
  • Hailey condos are also witnessing price appreciation. Prices are up 6%, from $204,500 to $218,000. 
  • Finally, condos in Bellevue are up 9% in price, moving from $296,000 to to $325,500.

MEDIAN PRICE CHANGES OF TOWNHOUSES:

  • Overall, the median price of townhouses in the entire Sun Valley MLS rose 30%, from $340,000 to $445,000. 
  • Ketchum townhomes, unlike condos, are in a upward  trend with prices rising 22%. Last year the median sold price of a townhouse was $780,000  and this year the median was $954,500. 
  • Warm Springs in Ketchum townhouse prices, like condos, are also sliding, moving from $823,500 to $595,000, or a decrease of 27%. 
  • There were Sun Valley ten active townhouses last year and the same number this year. The median price rose from $474,000 to $1,698,438. The Diamond Back townhouse sales drove this increase. 
  • Townhome prices in Elkhorn in Sun Valley rose 93% from $522,500 to $1,010,000. This is interesting because there were 13 sold townhouse deals this year and the exact same number last year. Active inventory is down in Elkhorn by 44%. Simple supply and demand may be attributing to price increases. 
  • There are almost no townhouses South of Ketchum area, we’ll skip that number. 
  • Hailey townhouse prices were up 2%, with prices moving from $225,000 to $230,000.  
  • Finally, there are too few townhouses in Bellevue to make a big whoopla.

Single-Family Residential Statistics from the Sun Valley MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue10888-188060-255044-12
Elkhorn in Sun Valley7261-154634-262622-15
Hailey261248-4212197-7157154-1
Ketchum941121962782530326
Mackay3102332830013200
South of Ketchum183178-2118116-1465110
North of Ketchum5041-183221-34131730
Other12078-357542-444338-11
Stanley Basin5121404810014300
South Blaine Co33356272971814-22
Sun Valley6237-403217-461615-6
Warm Springs in Ketchum7059-154536-20232926
Sub Type Totals: Single Family Residence1061959-9735646-124244230
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue4740-1415,546,85015,606,6700330,784390,16717
Elkhorn in Sun Valley2222031,924,50030,403,500-41,451,1141,381,977-4
Hailey149152262,644,17570,448,25012420,431463,47510
Ketchum3023-2379,348,50045,442,568-422,644,9501,975,764-25
Mackay04+0790,000+0197,500+
South of Ketchum39554154,186,66176,962,400421,389,4021,399,3160
North of Ketchum11219021,353,65028,337,317321,941,2411,349,396-30
Other4335-1812,052,5509,696,200-19280,292277,034-1
Stanley Basin14300400,0006,870,0001617400,0001,717,500329
South Blaine Co151664,308,5536,670,47054287,237416,90445
Sun Valley1617627,694,00043,791,500581,730,8752,575,97148
Warm Springs in Ketchum23271723,288,00044,898,000921,012,5221,662,88964
Sub Type Totals: Single Family Residence3964165332,747,439379,916,87514840,271913,2628
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue310,000335,500896970
Elkhorn in Sun Valley1,188,5001,305,000995940
Hailey364,700390,000697980
Ketchum1,587,5001,490,000-694962
Mackay0175,000+097+
South of Ketchum842,5001,147,000369695-1
North of Ketchum1,272,1501,000,000-2189933
Other182,500198,000893952
Stanley Basin400,0001,087,50017194961
South Blaine Co229,550215,711-69793-4
Sun Valley1,437,5001,640,0001491910
Warm Springs in Ketchum795,0001,495,000889594-1
Sub Type Totals: Single Family Residence435,000497,5001494951

Condominium Statistics from the Sun Valley MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley11796-17798237065-7
Hailey2535402027351122100
Ketchum15315301001088688119
South of Ketchum02+02+02+
North of Ketchum101010
Sun Valley59625384928313512
Warm Springs in Ketchum6356-11383923126-16
Sub Type Totals: Condominium418404-3276307112122318


 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley6465121,354,00024,387,47514333,656375,19212
Hailey9191111,767,0003,986,200125196,333209,8006
Ketchum7871-866,868,65044,566,964-33857,290627,704-26
South of Ketchum02+0323,000+0161,500+
North of Ketchum101,775,00001,775,0000
Sun Valley3133615,596,36916,564,0006503,109501,9390
Warm Springs in Ketchum3024-2013,095,99910,574,500-19436,533440,6040
Sub Type Totals: Condominium2132140120,457,018100,402,139-16565,526469,169

-17

 

 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley296,000325,000996971
Hailey204,500218,000696971
Ketchum545,000423,900-2296960
South of Ketchum0161,500+0101+
North of Ketchum1,775,0000-100960
Sun Valley435,000477,000996983
Warm Springs in Ketchum379,500345,000-993941
Sub Type Totals: Condominium345,000352,700296971

Townhouse Statistics from the Sun Valley MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue11001+110
Elkhorn in Sun Valley2514-44139-30188-55
Hailey7158-186149-195441-24
Ketchum5540-273426-232523-8
South of Ketchum10000000
Other21-5001+000
Sun Valley101008806833
Warm Springs in Ketchum273011171858912
Sub Type Totals: Townhouse192154-19133112-1511290-19
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue110186,500277,00048186,500277,00048
Elkhorn in Sun Valley131309,747,10011,453,50017749,777881,03817
Hailey5335-3312,564,3098,459,500-32237,062241,7001
Ketchum3125-1935,030,50034,372,000-11,130,0161,374,88021
South of Ketchum000000000
Other000000000
Sun Valley58603,094,00012,710,875310618,8001,588,859156
Warm Springs in Ketchum8806,435,0005,301,500-17804,375662,688-17
Sub Type Totals: Townhouse11190-1867,057,40972,574,3758604,121806,38233
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue186,500277,0004899980
Elkhorn in Sun Valley522,5001,010,0009394940
Hailey225,000230,00029997-1
Ketchum780,000954,5002294962
South of Ketchum000000
Other000000
Sun Valley474,0001,698,43825896960
Warm Springs in Ketchum823,500595,000-2795960
Sub Type Totals: Townhouse340,000445,0003096960

Vacant Land Statistics from the Sun Valley MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue5767173534-2512140
Elkhorn in Sun Valley303001314732-33
Hailey191221158411334394720
Ketchum20242011175464-33
Mackay21880021670004+
South of Ketchum149143-48065-182120-4
North of Ketchum3430-117104275-28
Other196142-2710155-45374521
South Blaine Co5562123634-51710-41
Stanley Basin283001760012100
Sun Valley3933-152312-4774-42
Warm Springs in Ketchum344120162556550
Sub Type Totals: Residential Land8098191409402-11481608
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue61066578,0001,227,00011296,333122,70027
Elkhorn in Sun Valley32-332,112,000790,000-62704,000395,000-43
Hailey4037-76,747,2615,597,060-17168,682151,272-10
Ketchum73-5711,637,0006,175,000-461,662,4292,058,33323
Mackay02+093,380+046,690+
South of Ketchum2115-286,933,5005,407,500-22330,167360,5009
North of Ketchum84-5015,180,0004,285,000-711,897,5001,071,250-43
Other3444293,159,6522,998,530-592,93168,148-26
South Blaine Co1711-351,469,4001,278,500-1286,435116,22734
Stanley Basin12100145,000475,000227145,000237,50063
Sun Valley84-509,087,0004,602,000-491,135,8751,150,5001
Warm Springs in Ketchum25150775,5002,869,000269387,750573,80047
Sub Type Totals: Residential Land147139-557,824,31335,797,970-38393,363257,539-34
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue81,250120,000479592-2
Elkhorn in Sun Valley630,000395,000-378783-4
Hailey133,500130,000-293930
Ketchum566,0002,500,0003419488-5
Mackay046,690+087+
South of Ketchum295,000300,00019389-3
North of Ketchum1,740,0001,026,000-4189912
Other46,00033,000-289290-1
South Blaine Co70,000120,0007186926
Stanley Basin145,000237,500639182-9
Sun Valley1,000,000832,500-1690955
Warm Springs in Ketchum387,750481,000249586-9
Sub Type Totals: Residential Land139,500124,000-119189-2

If you are interested in buying, selling or investing in Sun Valley real estate, please give Sheila Liermann a call. 

Respectfully submitted by:
Sheila Liermann | 208.481.0450 |Real Estate Broker with Keller Williams Sun Valley Southern Idaho

Information is deemed to be reliable, but is not guaranteed. © 2019 MLS and FBS. Prepared by Sheila Liermann, Associate Broker | Principal, AB, GRI, SFR on Tuesday, April 02, 2019 6:13 PM