Sun Valley Real Estate Statistics for 3rd Quarter 2019 

Year-Over-Year Comparison

This Year: 1/1/2019 to 9/30/2019
Last Year: 1/1/2018 to 9/30/2018

All prices mentioned below are “median prices.” To really get in the weeds, see the charts below for “average sale prices” and more statistical information from the Sun Valley MLS.  Otherwise, here’s some stand-out numbers from our various neighborhoods. 

A few stand-out numbers in the entire Sun Valley MLS

  • Inventory of single-family homes is down 12% over this time last year, so not surprisingly prices are up. Last year the median price of a residential home across the entire Sun Valley MLS was $460,000 and this year-to-date the median price is $552,500, an increase of 20%. Homes are selling at 95% of asking price, exactly like last year. 
  • The inventory of condos is down by 8%; pending and sold deals are dead-even with this time last year. Price have moved from $335,000 to $365,000, an increase of 8%. Condos are selling at 97% of asking price,which is the same number as last year. 
  • The median price of townhouses in the Sun Valley MLS are down 20%, from $455,000 last year to $362,000 this year. Inventory is down 33%; sold deals are down 23% and pending deals are down 10%. 
  • The low-end vacant lots are selling, which explains the bump of median price from $123,250 to $150,000, an increase of 21%. Inventory of residential lots are up 3%; pending deals are up 9%; and sold lots are up 11%.

A few stand-out numbers in Ketchum

  • The median price of a single-family home in Ketchum moved from $1,250,000 in 2018 to $1,385,000 as of September 30, 2019,  a bump of 10%. 
  • Condo median prices in moved up 8%, from $455,000 in 2018 to $495,000 in 2019.
  • Townhouse median prices in Ketchum are up 31% this year, from $728,750 to $960,000. Active listings are down by 26%, which might explain this big jump. 
  • Four lots sold have sold in Ketchum this year, moving the median price from $2,600,000 last year to $2,500,000 this year, a decline of 3%. 

A few stand-out numbers in Warm Springs

  • Median home prices fell in Warm Springs this year by 19%. The median price moved from $1,497,500 to $1,200,000. 
  • Condo prices in Warm Springs slipped from $307,500 last year to $287,500 this year, a decline of 6%.
  • Townhouse median prices dropped 13%, from $725,000 to $630,000. 
  • Vacant residential land in Warm Springs is up 11%, from $481,000 in 2018 to $538,500 in 2019. 

A few stand-out numbers North of Ketchum

  • Homes in the North of Ketchum area are seeing appreciation of 34% this year, with the median price moving from $910,000 to $1,225,000. Contributing to this high percentage is the fact that actives listings are down 34%. It would appear to be a simple case of supply and demand. 
  • There are very few condos/townhouses North of Ketchum so analysis would not be statistically significant.
  • The median price of residential land took a big slide by 60%, with a price of $1,462,500 last year and $580,000 this year. Again, inventory is down by 55%, which probably contributes to a decline in price as buyers are not finding what they are looking for. 

A few stand-out numbers in Sun Valley

  • Prices of residential homes in Sun Valley, excluding Elkhorn, are on the rise. The median price of a home last year was $1,610,000 and that number this year is $2,110,250, a bump of 31%.
  • Condos in Sun Valley took a 4% hit in median price, moving from $510,000 last year, to $487,400 this year.
  • Townhouse prices moved from $472,500 to $2,000,000, an increase of 323%. This number is very deceptive. Here’s why. Last year, the Diamond Back Townhouses in Sun Valley were sold through Sun Valley Resort and were not reported in the Sun Valley MLS. This year we saw some re-sales of the Diamond Back Townhouses, which were reported in the Sun Valley MLS. 
  • Compared with other areas of the Sun Valley MLS, the median price of residential land in Sun Valley is fairly stable with a median price of $1,075,000 last year and $1,006,000 this year.

A few stand-out numbers in Elkhorn

  • Inventory of single-family homes in Elkhorn is down 9%; sales are up 12%; and the median price moved from $1,042,500 last year to $1,365,000 this year, an increase of 30%.
  • Many of the condos in Elkhorn are older and thus have a lower price point than the Elkhorn townhomes. The median price of a condo increased from $294,750 to $347,900, an increase of 18%.
  • The price of a townhouse in Elkhorn increased from $1,010,000 to $1,195,000, a bump of 18%. Inventory is down by 44%; so not surprisingly sales are down (72%), as are pending deals (55%). 
  • While pending deals and sales of vacant land in Elkhorn are stagnant, prices did surprisingly increase from $315,000 last year to $475,000 this year. But with just one sold lot last year, and one sold lot year-to-date this year, I wouldn’t hang my hat on the increase in land prices in Elkhorn. 

A few stand-out numbers in South of Ketchum

  • The median price of a home located between Ketchum and Hailey dropped from $1,082,500 to $875,00, a decrease of 19%.
  • Perhaps people are building homes in the mid-valley instead of buying? the median price is up 36% from $220,000 to $300,000. The number of vacant lots sold are up 45% and pending deals are up 17%. 
  • There are so few condos and townhouse in the mid-valley that I am not offering numbers for analysis.

A few stand-out numbers in Hailey

  • Despite lower pending and sold deals this year, Hailey continues to see significant price appreciation with prices moving from $379,250 to $447,500 in the single-family home market. 
  • Condo prices in Hailey are on the rise with 18% appreciation this year-to-date. Last year the median price of a condo in Hailey was $205,000 and this year that number is $230,000. Pending and sold deals are also UP! 
  • The price of townhouses in Hailey have increased 9%, from $227,500 last year to $249,000 this year. 
  • The median price of residential land in Hailey is also on the upswing, by 20%. Last year the median price was $123,250; this year that price is $148,705.

A few stand-out numbers in Bellevue

  • Like, Hailey, the prices of homes in Bellevue are on the increase with a median price in 2018 of $306,250, and $380,000 in 2019, an increase of 24%. Sold deals are up 17% and pending deals are up 11%.
  • There are very few townhomes in Bellevue. 
  • Residential vacant lots increased from $107,500 last year to $115,000 this year, up by 6%.

SINGLE-FAMILY HOME STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue80811526117343811
Elkhorn in Sun Valley6256-926332621210
Hailey242194-19184155-15142107-24
Ketchum9493-15451-5183066
Mackay817112610663566
South of Ketchum1541614939634336-16
North of Ketchum4731-342018-10238-65
Other8852-404431-293823-39
Stanley Basin117-3675-283566
South Blaine Co3735-52919-3414157
Sun Valley4035-12192321131515
Warm Springs in Ketchum6551-213526-2524240
Sub Type Totals: Single Family Residence928813-12569528-7376327-13
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue28331710,988,17016,460,10049392,435498,79127
Elkhorn in Sun Valley16181220,230,50029,208,500441,264,4061,622,69428
Hailey13099-2357,751,77548,585,829-15444,244490,76610
Ketchum15214026,630,00031,181,568171,775,3331,484,837-16
Mackay24100345,000973,000182172,500243,25041
South of Ketchum3630-1642,674,00035,146,500-171,185,3891,171,550-1
North of Ketchum237-6931,428,4679,790,000-681,366,4551,398,5712
Other3519-4513,059,2006,133,800-53373,120322,832-13
Stanley Basin45253,070,0008,594,000179767,5001,718,800123
South Blaine Co1114275,335,0004,958,000-7485,000354,143-26
Sun Valley9123320,415,00026,170,000282,268,3332,180,833-3
Warm Springs in Ketchum2021533,758,00026,333,000-211,687,9001,253,952-25
Sub Type Totals: Single Family Residence329283-13265,685,112243,534,297-8807,554860,5456
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue306,250380,0002497970
Elkhorn in Sun Valley1,042,5001,365,0003095950
Hailey379,250447,5001798980
Ketchum1,250,0001,385,0001097970
Mackay172,500221,500289891-6
South of Ketchum1,082,500875,000-1994961
North of Ketchum910,0001,225,000349391-1
Other225,000230,000295961
Stanley Basin710,000430,000-399895-2
South Blaine Co255,000225,000-1190932
Sun Valley1,610,0002,110,2503191965
Warm Springs in Ketchum1,497,5001,200,000-1994940
Sub Type Totals: Single Family Residence460,000552,5002095950

CONDOMINIUM STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley8774-146357-95955-6
Hailey2628721224121958
Ketchum141125-119383-106460-6
South of Ketchum202020
North of Ketchum101010
Other01+01+000
Sun Valley555504037-730313
Warm Springs in Ketchum5148-52728327297
Sub Type Totals: Condominium363331-8247228-71951940
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley5653-519,016,42520,542,8008339,579387,60014
Hailey1017702,037,3003,746,30083203,730220,3718
Ketchum6156-843,754,45337,180,261-15717,286663,933-7
South of Ketchum20323,0000161,5000
North of Ketchum101,775,00001,775,0000
Other000000000
Sun Valley27301115,815,00014,620,000-7585,741487,333-16
Warm Springs in Ketchum2425410,439,9998,985,750-13435,000359,430-17
Sub Type Totals: Condominium181181093,161,17785,075,111-8514,703470,028-8
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley294,750347,9001897970
Hailey205,000230,0001298980
Ketchum455,000495,000896970
South of Ketchum161,5000-1001010
North of Ketchum1,775,0000-100960
Other000000
Sun Valley510,000487,500-499980
Warm Springs in Ketchum307,500287,500-694973
Sub Type Totals: Condominium335,000365,00089797 

TOWNHOUSE STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue101010
Elkhorn in Sun Valley1810-44792894-55
Hailey5041-183838029316
Ketchum4231-26212242120-4
Other1010000
Sun Valley104-6073-5764-33
Warm Springs in Ketchum2814-50217-6676-14
Sub Type Totals: Townhouse150100-339679-177365-10
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue000000000
Elkhorn in Sun Valley113-729,983,5003,610,000-63907,5911,203,33332
Hailey262606,171,5006,775,5009237,365260,5969
Ketchum1911-4221,456,50014,079,500-341,129,2891,279,95513
Other000000000
Sun Valley45253,125,00013,440,000330781,2502,688,000244
Warm Springs in Ketchum5503,554,0002,779,500-21710,800555,900-21
Sub Type Totals: Townhouse6550-2344,290,50040,684,500-8681,392813,69019
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue000000
Elkhorn in Sun Valley1,010,0001,195,0001893995
Hailey227,500249,000998970
Ketchum728,750960,0003197960
Other000000
Sun Valley472,5002,000,00032396950
Warm Springs in Ketchum725,000630,000-1396960
Sub Type Totals: Townhouse455,000362,000-2096971

RESIDENTIAL VACANT LAND STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue606915233656819137
Elkhorn in Sun Valley30341313147110
Hailey198194-29563-33273840
Ketchum263223192053433
Mackay112512711153618700
South of Ketchum1211318456544172017
North of Ketchum2712-5575-2843-25
Other142116-186382303814-63
South Blaine Co62772424479513147
Stanley Basin9112276-143433
Sun Valley29465873337132-33
Warm Springs in Ketchum4336-162312-475860
Sub Type Totals: Residential Land7587833337398181231359
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue81587918,5003,553,000286114,812236,867106
Elkhorn in Sun Valley110315,000475,00050315,000475,00050
Hailey2432333,950,3605,546,43040164,598173,3265
Ketchum43-2512,175,0007,775,000-363,043,7502,591,667-14
Mackay1760038,380441,000104938,38063,00064
South of Ketchum1116453,506,5006,199,00076318,773387,43821
North of Ketchum2202,925,0001,160,000-601,462,500580,000-60
Other3214-562,217,2302,875,5002969,288205,393196
South Blaine Co1215251,227,9001,291,0005102,32586,067-15
Stanley Basin330620,000428,000-30206,667142,667-30
Sun Valley42-504,165,0002,012,000-511,041,2501,006,000-3
Warm Springs in Ketchum371331,369,0003,939,323187456,333562,76023
Sub Type Totals: Residential Land1051171133,427,87035,695,2536318,361305,088-4
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue107,500115,00069492-2
Elkhorn in Sun Valley315,000475,0005080868
Hailey123,250148,7052095971
Ketchum2,600,0002,500,000-392964
Mackay38,38055,0004382876
South of Ketchum220,000300,0003690921
North of Ketchum1,462,500580,000-60819415
Other34,81556,000608815576
South Blaine Co111,00090,000-1890922
Stanley Basin200,000150,000-258510017
Sun Valley1,075,0001,006,000-694963
Warm Springs in Ketchum481,000538,5001188902
Sub Type Totals: Residential Land123,250150,00021889811

Check back in January 2020 for the year-end 2019 numbers.

Respectfully Blogged, 

Sheila Liermann | Sun Valley Real Estate Broker 

Call Sheila Liermann at 208.481.0450

Or Email at SunValleySheila@gmail.com

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, October 08, 2019 2:52 PM.