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 SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue86-252,770,5001,997,500-27346,312332,917-3
Elkhorn in Sun Valley9101112,238,50011,694,000-41,359,8331,169,400-14
Hailey4732-3121,621,62514,360,138-33460,035448,754-2
Ketchum610667,955,00016,392,5681061,325,8331,639,25723
Mackay10150,0000150,0000
South of Ketchum1012209,622,00015,501,40061962,2001,291,78334
North of Ketchum81-8714,987,8172,200,000-851,873,4772,200,00017
Other1210-166,061,5001,861,900-69505,125186,190-63
Stanley Basin110400,0004,200,000950400,0004,200,000950
South Blaine Co41-752,675,000225,000-91668,750225,000-66
Sun Valley44011,470,0008,492,500-252,867,5002,123,125-25
Warm Springs in Ketchum792814,415,00012,285,000-142,059,2861,365,000-33
Sub Type Totals: Single Family Residence11796-17104,366,94289,210,006-14892,025929,2714
Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue5040-202220-915166
Elkhorn in Sun Valley4736-2311129109-10
Hailey144100-308662-276940-42
Ketchum6064620200101330
Mackay4912522021-50
South of Ketchum911011030362016160
North of Ketchum3518-4885-37103-70
Other6335-441914-26147-50
Stanley Basin5501320012100
South Blaine Co17212395-4463-50
Sun Valley2719-29671662-66
Warm Springs in Ketchum4231-26127-411310-23
Sub Type Totals: Single Family Residence585479-18226193-14172122

-29

 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue306,500371,5002196982
Elkhorn in Sun Valley1,140,0001,200,000594951
Hailey368,000407,5001097970
Ketchum995,0001,495,000509594-1
Mackay150,0000-100940
South of Ketchum738,250847,5001495961
North of Ketchum955,0002,200,0001309282-11
Other347,000177,500-4894951
Stanley Basin400,0004,200,0009509486-8
South Blaine Co190,000225,000187710029
Sun Valley2,542,5001,396,250-4592930
Warm Springs in Ketchum1,700,0001,300,000-2390922
Sub Type Totals: Single Family Residence460,000565,0002292931

 

CONDOMINIUM MARKET STATISTICS IN SUN VALLEY

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley4940-182523-82922-24
Hailey11175461183412200
Ketchum8378-635375222513
South of Ketchum202020
North of Ketchum101010
Sun Valley2932101414012120
Warm Springs in Ketchum3533-51113181713-23
Sub Type Totals: Condominium210200-4949848784-3
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley2622-158,453,8257,824,800-7325,147355,6739
Hailey28300410,5001,688,800311205,250211,1002
Ketchum20231514,974,65013,753,761-8748,732597,990-20
South of Ketchum000000000
North of Ketchum101,775,00001,775,0000
Sun Valley109-105,877,5003,599,000-38587,750399,889-31
Warm Springs in Ketchum1510-336,218,9993,655,500-41414,600365,550-11
Sub Type Totals: Condominium7472-237,710,47430,521,861-19509,601423,915-16
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley284,000346,4502196960
Hailey205,250227,5001097991
Ketchum625,000405,000-3596971
South of Ketchum000000
North of Ketchum1,775,0000-100960
Sun Valley485,000430,000-1196960
Warm Springs in Ketchum275,000332,5002093952
Sub Type Totals: Condominium337,500346,450296971

TOWNHOUSE STATISTICS IN THE SUN VALLEY MARKET

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley134-69235051-80
Hailey2718-331515013130
Ketchum2914-5185-37106-40
Sun Valley63-5032-33220
Warm Springs in Ketchum1612-2595-44330
Sub Type Totals: Townhouse9151-433730-183325-24
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley71-856,425,0001,440,000-77917,8571,440,00056
Hailey131472,823,5003,635,50028217,192259,67919
Ketchum75-286,216,5009,298,00049888,0711,859,600109
Sun Valley2350945,0009,440,000898472,5003,146,667565
Warm Springs in Ketchum000000000
Sub Type Totals: Townhouse2923-2016,410,00023,813,50045565,8621,035,37082
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley1,010,0001,440,0004293984
Hailey225,000265,5001897981
Ketchum865,0001,225,000419694-1
Sun Valley472,5003,375,00061495961
Warm Springs in Ketchum000000
Sub Type Totals: Townhouse445,000312,000-2995961

VACANT RESIDENTIAL LAND STATISTICS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue4552158191376833
Elkhorn in Sun Valley2123943-25000
Hailey132155172927-6101770
Ketchum1421507928110
Mackay4183504810013200
South of Ketchum97103621377664-33
North of Ketchum2310-5633001+
Other11656-513722-40124-66
South Blaine Co4543-471385124-66
Stanley Basin477522012100
Sun Valley2421-122830020
Warm Springs in Ketchum2529165503433
Sub Type Totals: Residential Land550538-2129156205448-11
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue3433328,500469,50042109,500117,3757
Elkhorn in Sun Valley01+0475,000+0475,000+
Hailey812501,549,8002,135,00037193,725177,917-8
Ketchum31-669,575,0002,500,000-733,191,6672,500,000-21
Mackay03+0173,000+057,667+
South of Ketchum3566544,0002,010,000269181,333402,000121
North of Ketchum21-502,925,000660,000-771,462,500660,000-54
Other76-14546,000461,000-1578,00076,833-1
South Blaine Co82-75760,900320,000-5795,112160,00068
Stanley Basin110145,000125,000-13145,000125,000-13
Sun Valley21-502,500,000487,000-801,250,000487,000-61
Warm Springs in Ketchum20888,0000444,0000
Sub Type Totals: Residential Land3937-519,762,2009,815,500-50506,723265,284-47
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue90,000102,250139491-3
Elkhorn in Sun Valley0475,000+086+
Hailey123,250158,2502895950
Ketchum2,837,5002,500,000-1193930
Mackay055,000+091+
South of Ketchum180,000300,000669188-3
North of Ketchum1,462,500660,000-54819213
Other75,00060,500-19859511
South Blaine Co89,200160,000798984-5
Stanley Basin145,000125,000-1391987
Sun Valley1,250,000487,000-6191987
Warm Springs in Ketchum444,0000-100880
Sub Type Totals: Residential Land139,500152,500990922

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.