Sun Valley Real Estate Market Update
Year Over Year Comparison
This Year: 1/1/2019 to 5/13/2019
Last Year: 1/1/2018 to 5/13/2018
Just in, here are the latest numbers on the Sun Valley real estate market. I have broken out the statistics by property type (i.e. single-family homes, condos, townhouses and vacant land) and by neighborhood, i.e. Ketchum, Warm Springs, North of Ketchum, Elkhorn, etc.
All real estate is local.
Which is why I break out the statistics by neighborhood.
These statistics are a snapshot of where we’ve been. Click on my Market Trends tab to help figure out where we’re going.
What’s the General State of the Market?
Single-Family Residential Market:
- The median price of single-family home across the entire Sun Valley MLS is up 22%, from $460,000 to $565,000.
- The average price moved from $892,025 to $929,271, or a bump up of 4%.
- Will this upward trend hold? No one knows for sure, but we do know that the number of deals under contract this year are down 29%, and the number of sold deals are down 17%, which may be an indication a slowing market and slowing appreciation.
- Inventory of single-family homes is down 18%.
- Scroll down for all of the single-family residential statistics by neighborhood.
Condo Market:
- The median price of a condo in the Sun Valley MLS rose 2%, from $337,500 to $346,450.
- Sold condos and pending condo deals are more solid than the single-family home market. The number of deals under contract only dropped 3% and closed deals dropped 2%.
- The inventory of condos in Sun Valley is down by just 4%
- Keep scrolling for all of the nitty-gritty numbers for the Sun Valley condo market across all neighborhoods.
Townhouse Market in the Sun Valley MLS
- We have more condominums in the Sun Valley area than we have townhouses, so these statistics reflect a small sample.
- The median price of a townhouse in the Sun Valley MLS last year was $445,000 and fell to $312,000 this year, a drop of -29%. Ouch – but remember this number is derived from a small pool.
- The number of sold deals YTD this year is down 20%, with 29 sales last year, compared to 23 this year.
- Number of deals under contract is off, too. Last year at this time we had 33 pending townhouse transactions. This year we have 25, or a decline of 24%.
- Inventory of townhouses is down, too, by 43% with 91 units available last year and just 51 available this year.
- Scroll down until you come to the townhouse charts if you want to study the statistics by area.
National Association of Realtors: Pending Home Sales
NAR’s Pending Home Sales Index measures contract signings — so it’s a forecast of home sales based on how many homes went under contract in February. For February 2019 (https://www.nar.realtor/newsroom/pending-home-sales-dip-1-0-percent-in-february), pending home sales were down 1.0% from January 2019 and 4.9% from February 2018. This is the fourteenth consecutive month in which pending home sales have decreased year-over-year.
What’s it mean? Because pending home sales were up 5% in January 2019, the overall drop is “not a significant concern,” according to NAR’s chief economist, Lawrence Yun. However, Yun also believes that a lack of inventory will lead to future decreases in pending home sales.
Scroll down for the latest statistics for all property types in all neighborhoods and areas of the Sun Valley MLS.
SINGLE-FAMILY RESIDENTIAL STATISTICS
| Number Sold | Sold Volume | Average Sale Price | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 8 | 6 | -25 | 2,770,500 | 1,997,500 | -27 | 346,312 | 332,917 | -3 |
| Elkhorn in Sun Valley | 9 | 10 | 11 | 12,238,500 | 11,694,000 | -4 | 1,359,833 | 1,169,400 | -14 |
| Hailey | 47 | 32 | -31 | 21,621,625 | 14,360,138 | -33 | 460,035 | 448,754 | -2 |
| Ketchum | 6 | 10 | 66 | 7,955,000 | 16,392,568 | 106 | 1,325,833 | 1,639,257 | 23 |
| Mackay | 1 | 0 | – | 150,000 | 0 | – | 150,000 | 0 | – |
| South of Ketchum | 10 | 12 | 20 | 9,622,000 | 15,501,400 | 61 | 962,200 | 1,291,783 | 34 |
| North of Ketchum | 8 | 1 | -87 | 14,987,817 | 2,200,000 | -85 | 1,873,477 | 2,200,000 | 17 |
| Other | 12 | 10 | -16 | 6,061,500 | 1,861,900 | -69 | 505,125 | 186,190 | -63 |
| Stanley Basin | 1 | 1 | 0 | 400,000 | 4,200,000 | 950 | 400,000 | 4,200,000 | 950 |
| South Blaine Co | 4 | 1 | -75 | 2,675,000 | 225,000 | -91 | 668,750 | 225,000 | -66 |
| Sun Valley | 4 | 4 | 0 | 11,470,000 | 8,492,500 | -25 | 2,867,500 | 2,123,125 | -25 |
| Warm Springs in Ketchum | 7 | 9 | 28 | 14,415,000 | 12,285,000 | -14 | 2,059,286 | 1,365,000 | -33 |
| Sub Type Totals: Single Family Residence | 117 | 96 | -17 | 104,366,942 | 89,210,006 | -14 | 892,025 | 929,271 | 4 |
| Total Active | New Listings | Number Under Contract | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 50 | 40 | -20 | 22 | 20 | -9 | 15 | 16 | 6 |
| Elkhorn in Sun Valley | 47 | 36 | -23 | 11 | 12 | 9 | 10 | 9 | -10 |
| Hailey | 144 | 100 | -30 | 86 | 62 | -27 | 69 | 40 | -42 |
| Ketchum | 60 | 64 | 6 | 20 | 20 | 0 | 10 | 13 | 30 |
| Mackay | 4 | 9 | 125 | 2 | 2 | 0 | 2 | 1 | -50 |
| South of Ketchum | 91 | 101 | 10 | 30 | 36 | 20 | 16 | 16 | 0 |
| North of Ketchum | 35 | 18 | -48 | 8 | 5 | -37 | 10 | 3 | -70 |
| Other | 63 | 35 | -44 | 19 | 14 | -26 | 14 | 7 | -50 |
| Stanley Basin | 5 | 5 | 0 | 1 | 3 | 200 | 1 | 2 | 100 |
| South Blaine Co | 17 | 21 | 23 | 9 | 5 | -44 | 6 | 3 | -50 |
| Sun Valley | 27 | 19 | -29 | 6 | 7 | 16 | 6 | 2 | -66 |
| Warm Springs in Ketchum | 42 | 31 | -26 | 12 | 7 | -41 | 13 | 10 | -23 |
| Sub Type Totals: Single Family Residence | 585 | 479 | -18 | 226 | 193 | -14 | 172 | 122 | -29 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 306,500 | 371,500 | 21 | 96 | 98 | 2 |
| Elkhorn in Sun Valley | 1,140,000 | 1,200,000 | 5 | 94 | 95 | 1 |
| Hailey | 368,000 | 407,500 | 10 | 97 | 97 | 0 |
| Ketchum | 995,000 | 1,495,000 | 50 | 95 | 94 | -1 |
| Mackay | 150,000 | 0 | -100 | 94 | 0 | – |
| South of Ketchum | 738,250 | 847,500 | 14 | 95 | 96 | 1 |
| North of Ketchum | 955,000 | 2,200,000 | 130 | 92 | 82 | -11 |
| Other | 347,000 | 177,500 | -48 | 94 | 95 | 1 |
| Stanley Basin | 400,000 | 4,200,000 | 950 | 94 | 86 | -8 |
| South Blaine Co | 190,000 | 225,000 | 18 | 77 | 100 | 29 |
| Sun Valley | 2,542,500 | 1,396,250 | -45 | 92 | 93 | 0 |
| Warm Springs in Ketchum | 1,700,000 | 1,300,000 | -23 | 90 | 92 | 2 |
| Sub Type Totals: Single Family Residence | 460,000 | 565,000 | 22 | 92 | 93 | 1 |
CONDOMINIUM MARKET STATISTICS IN SUN VALLEY
| 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 | 49 | 40 | -18 | 25 | 23 | -8 | 29 | 22 | -24 |
| Hailey | 11 | 17 | 54 | 6 | 11 | 83 | 4 | 12 | 200 |
| Ketchum | 83 | 78 | -6 | 35 | 37 | 5 | 22 | 25 | 13 |
| South of Ketchum | 2 | 0 | – | 2 | 0 | – | 2 | 0 | – |
| North of Ketchum | 1 | 0 | – | 1 | 0 | – | 1 | 0 | – |
| Sun Valley | 29 | 32 | 10 | 14 | 14 | 0 | 12 | 12 | 0 |
| Warm Springs in Ketchum | 35 | 33 | -5 | 11 | 13 | 18 | 17 | 13 | -23 |
| Sub Type Totals: Condominium | 210 | 200 | -4 | 94 | 98 | 4 | 87 | 84 | -3 |
| 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 | 26 | 22 | -15 | 8,453,825 | 7,824,800 | -7 | 325,147 | 355,673 | 9 |
| Hailey | 2 | 8 | 300 | 410,500 | 1,688,800 | 311 | 205,250 | 211,100 | 2 |
| Ketchum | 20 | 23 | 15 | 14,974,650 | 13,753,761 | -8 | 748,732 | 597,990 | -20 |
| South of Ketchum | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| North of Ketchum | 1 | 0 | – | 1,775,000 | 0 | – | 1,775,000 | 0 | – |
| Sun Valley | 10 | 9 | -10 | 5,877,500 | 3,599,000 | -38 | 587,750 | 399,889 | -31 |
| Warm Springs in Ketchum | 15 | 10 | -33 | 6,218,999 | 3,655,500 | -41 | 414,600 | 365,550 | -11 |
| Sub Type Totals: Condominium | 74 | 72 | -2 | 37,710,474 | 30,521,861 | -19 | 509,601 | 423,915 | -16 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Elkhorn in Sun Valley | 284,000 | 346,450 | 21 | 96 | 96 | 0 |
| Hailey | 205,250 | 227,500 | 10 | 97 | 99 | 1 |
| Ketchum | 625,000 | 405,000 | -35 | 96 | 97 | 1 |
| South of Ketchum | 0 | 0 | 0 | 0 | 0 | 0 |
| North of Ketchum | 1,775,000 | 0 | -100 | 96 | 0 | – |
| Sun Valley | 485,000 | 430,000 | -11 | 96 | 96 | 0 |
| Warm Springs in Ketchum | 275,000 | 332,500 | 20 | 93 | 95 | 2 |
| Sub Type Totals: Condominium | 337,500 | 346,450 | 2 | 96 | 97 | 1 |
TOWNHOUSE STATISTICS IN THE SUN VALLEY 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 | 13 | 4 | -69 | 2 | 3 | 50 | 5 | 1 | -80 |
| Hailey | 27 | 18 | -33 | 15 | 15 | 0 | 13 | 13 | 0 |
| Ketchum | 29 | 14 | -51 | 8 | 5 | -37 | 10 | 6 | -40 |
| Sun Valley | 6 | 3 | -50 | 3 | 2 | -33 | 2 | 2 | 0 |
| Warm Springs in Ketchum | 16 | 12 | -25 | 9 | 5 | -44 | 3 | 3 | 0 |
| Sub Type Totals: Townhouse | 91 | 51 | -43 | 37 | 30 | -18 | 33 | 25 | -24 |
| 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 | 7 | 1 | -85 | 6,425,000 | 1,440,000 | -77 | 917,857 | 1,440,000 | 56 |
| Hailey | 13 | 14 | 7 | 2,823,500 | 3,635,500 | 28 | 217,192 | 259,679 | 19 |
| Ketchum | 7 | 5 | -28 | 6,216,500 | 9,298,000 | 49 | 888,071 | 1,859,600 | 109 |
| Sun Valley | 2 | 3 | 50 | 945,000 | 9,440,000 | 898 | 472,500 | 3,146,667 | 565 |
| Warm Springs in Ketchum | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sub Type Totals: Townhouse | 29 | 23 | -20 | 16,410,000 | 23,813,500 | 45 | 565,862 | 1,035,370 | 82 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Elkhorn in Sun Valley | 1,010,000 | 1,440,000 | 42 | 93 | 98 | 4 |
| Hailey | 225,000 | 265,500 | 18 | 97 | 98 | 1 |
| Ketchum | 865,000 | 1,225,000 | 41 | 96 | 94 | -1 |
| Sun Valley | 472,500 | 3,375,000 | 614 | 95 | 96 | 1 |
| Warm Springs in Ketchum | 0 | 0 | 0 | 0 | 0 | 0 |
| Sub Type Totals: Townhouse | 445,000 | 312,000 | -29 | 95 | 96 | 1 |
VACANT RESIDENTIAL LAND STATISTICS
| Total Active | New Listings | Number Under Contract | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 45 | 52 | 15 | 8 | 19 | 137 | 6 | 8 | 33 |
| Elkhorn in Sun Valley | 21 | 23 | 9 | 4 | 3 | -25 | 0 | 0 | 0 |
| Hailey | 132 | 155 | 17 | 29 | 27 | -6 | 10 | 17 | 70 |
| Ketchum | 14 | 21 | 50 | 7 | 9 | 28 | 1 | 1 | 0 |
| Mackay | 4 | 18 | 350 | 4 | 8 | 100 | 1 | 3 | 200 |
| South of Ketchum | 97 | 103 | 6 | 21 | 37 | 76 | 6 | 4 | -33 |
| North of Ketchum | 23 | 10 | -56 | 3 | 3 | 0 | 0 | 1 | + |
| Other | 116 | 56 | -51 | 37 | 22 | -40 | 12 | 4 | -66 |
| South Blaine Co | 45 | 43 | -4 | 7 | 13 | 85 | 12 | 4 | -66 |
| Stanley Basin | 4 | 7 | 75 | 2 | 2 | 0 | 1 | 2 | 100 |
| Sun Valley | 24 | 21 | -12 | 2 | 8 | 300 | 2 | 0 | – |
| Warm Springs in Ketchum | 25 | 29 | 16 | 5 | 5 | 0 | 3 | 4 | 33 |
| Sub Type Totals: Residential Land | 550 | 538 | -2 | 129 | 156 | 20 | 54 | 48 | -11 |
| Number Sold | Sold Volume | Average Sale Price | |||||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 3 | 4 | 33 | 328,500 | 469,500 | 42 | 109,500 | 117,375 | 7 |
| Elkhorn in Sun Valley | 0 | 1 | + | 0 | 475,000 | + | 0 | 475,000 | + |
| Hailey | 8 | 12 | 50 | 1,549,800 | 2,135,000 | 37 | 193,725 | 177,917 | -8 |
| Ketchum | 3 | 1 | -66 | 9,575,000 | 2,500,000 | -73 | 3,191,667 | 2,500,000 | -21 |
| Mackay | 0 | 3 | + | 0 | 173,000 | + | 0 | 57,667 | + |
| South of Ketchum | 3 | 5 | 66 | 544,000 | 2,010,000 | 269 | 181,333 | 402,000 | 121 |
| North of Ketchum | 2 | 1 | -50 | 2,925,000 | 660,000 | -77 | 1,462,500 | 660,000 | -54 |
| Other | 7 | 6 | -14 | 546,000 | 461,000 | -15 | 78,000 | 76,833 | -1 |
| South Blaine Co | 8 | 2 | -75 | 760,900 | 320,000 | -57 | 95,112 | 160,000 | 68 |
| Stanley Basin | 1 | 1 | 0 | 145,000 | 125,000 | -13 | 145,000 | 125,000 | -13 |
| Sun Valley | 2 | 1 | -50 | 2,500,000 | 487,000 | -80 | 1,250,000 | 487,000 | -61 |
| Warm Springs in Ketchum | 2 | 0 | – | 888,000 | 0 | – | 444,000 | 0 | – |
| Sub Type Totals: Residential Land | 39 | 37 | -5 | 19,762,200 | 9,815,500 | -50 | 506,723 | 265,284 | -47 |
| Median Sale Price | Percent of List | |||||
| Area | Last Year | This Year | PCT | Last Year | This Year | PCT |
| Bellevue | 90,000 | 102,250 | 13 | 94 | 91 | -3 |
| Elkhorn in Sun Valley | 0 | 475,000 | + | 0 | 86 | + |
| Hailey | 123,250 | 158,250 | 28 | 95 | 95 | 0 |
| Ketchum | 2,837,500 | 2,500,000 | -11 | 93 | 93 | 0 |
| Mackay | 0 | 55,000 | + | 0 | 91 | + |
| South of Ketchum | 180,000 | 300,000 | 66 | 91 | 88 | -3 |
| North of Ketchum | 1,462,500 | 660,000 | -54 | 81 | 92 | 13 |
| Other | 75,000 | 60,500 | -19 | 85 | 95 | 11 |
| South Blaine Co | 89,200 | 160,000 | 79 | 89 | 84 | -5 |
| Stanley Basin | 145,000 | 125,000 | -13 | 91 | 98 | 7 |
| Sun Valley | 1,250,000 | 487,000 | -61 | 91 | 98 | 7 |
| Warm Springs in Ketchum | 444,000 | 0 | -100 | 88 | 0 | – |
| Sub Type Totals: Residential Land | 139,500 | 152,500 | 9 | 90 | 92 | 2 |
Respectfully blogged by:
Sheila Liermann | Sun Valley Real Estate Broker
208.481.0450 | SunValleySheila@gmail.com
Come visit me at 208 Spruce Avenue, Suite 5-B, Ketchum, Idaho.
