Sun Valley MLS Real Estate Statistics Thru November 13, 2019 

Year-Over-Year Comparison

This Year: 1/1/2019 to 11/13/2019
Last Year: 1/1/2018 to 11/13/2018

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, including number of sold listings, inventory levels, sold volume, percentage of list price, etc. 

NOTE: We usually say that our strongest months for sales are July, August, September, and October. Statistics through November 13th show that the strong trends continue. These numbers are gleaned from raw data and I have picked a few highlights across various areas in our MLS. 

A few stand-out numbers across 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 $470,000 and this year-to-date the median price is $580,000, an increase of 23%.
  • Homes are selling at 95% of asking price, exactly like last year. 
  • The inventory of condos is down by 9%; pending sales are up a 1% bump.
  • The median price of a condo in the Sun Valley area has  moved from $357,500 to $361,375, an increase of 1%.
  • 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 21%, from $455,000 last year to $359,000 this year.
  • Townhouse inventory is down 29%; sold deals are down 27% and pending deals are down 16%. Perhaps the low pending deals and low sold deals are a result of low inventory? 
  • Low-end vacant lots are selling, which explains the 21% increase in median price from $125,000 to $151,250.
  • Inventory of residential lots is up 5%; pending deals are up 7%; and sold lots are up 12%. 
  • The stronger vacant lot numbers may be a result of low inventory for homes as people decide to build instead of buy.

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 $1,595,000 as of November 13, 2019,  a bump of 19%. 
  • Condo median prices in moved up 6%, from $455,000 in YTD 2018 to $485,000 in YTD 2019.
  • The median price for a townhouse in Ketchum is up 29% this year, from $728,750 to $945,000. Active townhouse 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 $2,200,000 this year, a decline of 15%. 

A few stand-out numbers in Warm Springs

  • Median home prices fell in Warm Springs this year by 21%. The median price moved from $1,500,000 to $1,175,000. 
  • Condo prices in Warm Springs moved from $357,500 YTD last year to $361,375 this year, an increase of 1%.
  • Townhouse median prices dropped 21%, from $725,000 to $630,000. 
  • The median price of vacant residential land in Warm Springs is almost dead even with last year, moving from $465,000 in 2018 to $469,250 in 2019. 

A few stand-out numbers North of Ketchum

  • Homes in the North of Ketchum area are seeing appreciation of 30% this year, with the median price moving from $910,000 to $1,185,000. Contributing to this high percentage is the fact that actives listings are down 29%. 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 64%, with a price of $1,393,000 last year and $500,000 this year. Again, inventory is down by 57%, 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 $1,640,000 and that number this year is $2,439,000, an increase of 48%.
  • Condos in Sun Valley took a 2% hit in median price, moving from $499,000 last year, to $485,000 this year.
  • Townhouse prices moved from $1,080,938 to $2,000,000, an increase of 85%.
  • 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 10%; sales are up 30%; and the median price moved from $1,212,500 last year to $1,427,500 this year, an increase of 17%.
  • 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 $295,000 to $348,950, an increase of 18%.
  • The price of a townhouse in Elkhorn increased from $1,055,000 to $1,185,000, a bump of 2%. Inventory is down by 38%; so not surprisingly sales are down (66%), as are pending deals (54%). 
  • While pending deals and sales of vacant residential land in Elkhorn are stagnant, prices did surprisingly increase from $315,000 last year to $407,350 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 $1,147,000 to $935,000, a decrease of 18%.
  • Perhaps people are building homes in the mid-valley instead of buying? The median price of a mid-valley vacant lot is up 32% from $220,000 to $292,500. The number of vacant lots sold are up 61% and pending deals are up 5%. 
  • 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 $390,000 to $448,750 in the single-family home market, up 15%.
  • 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 $220,000 and this year that number is $235,000. Sold deals are also UP! 
  • The price of townhouses in Hailey have increased 7%, from $227,000 last year to $245,000 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 $307,750, and $392,500 in 2019, an increase of 27%. Sold deals are up 30% and pending deals are even with last year. The level of home inventory in Bellevue is up just 1%. 
  • There are very few townhomes and condos in Bellevue. 
  • Residential vacant lots decreased from $107,500 last year to $89,500 this year, down by 16%. 

Statistics from the Sun Valley MLS

Me and my mutt, Rosie, at Redfish Lake last weekend. Mutual adoration. 

in the weeds

All the numbers you need to buy, sell, or invest in the Sun Valley real estate market.

SINGLE-FAMILY HOME STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue8485156651641434
Elkhorn in Sun Valley6457-1028342122220
Hailey256208-18198169-14161122-24
Ketchum10795-116753-20233239
Mackay101770810254525
South of Ketchum162168310110314736-23
North of Ketchum4834-2921210248-66
Other9154-404633-284124-41
Stanley Basin108-2076-1436100
South Blaine Co383803022-2615166
Sun Valley4035-1219232114140
Warm Springs in Ketchum6753-203728-2425264
Sub Type Totals: Single Family Residence977852-12618567-8420354-15
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue3836-514,770,17017,837,10020388,689495,47527
Elkhorn in Sun Valley20263028,328,00040,981,000441,416,4001,576,19211
Hailey148117-2068,334,77556,614,329-17461,721483,8834
Ketchum15278026,630,00044,696,068671,775,3331,655,410-6
Mackay4525790,0001,123,00042197,500224,60013
South of Ketchum4735-2564,404,50048,471,500-241,370,3091,384,9001
North of Ketchum238-6531,428,46710,600,000-661,366,4551,325,000-3
Other3823-3913,486,20011,001,300-18354,900478,31734
Stanley Basin45253,070,0004,653,00051767,500930,60021
South Blaine Co141575,851,4705,161,000-11417,962344,067-17
Sun Valley13162333,684,00038,265,000132,591,0772,391,562-7
Warm Springs in Ketchum2325839,778,00031,332,000-211,729,4781,253,280-27
Sub Type Totals: Single Family Residence387338-12330,555,582310,735,297-5854,149919,3357
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue307,750392,5002796970
Elkhorn in Sun Valley1,212,5001,427,5001794940
Hailey390,000447,5001498970
Ketchum1,250,0001,490,0001997960
Mackay175,000190,00089792-5
South of Ketchum1,147,000935,000-1894961
North of Ketchum910,0001,185,000309391-1
Other203,000230,0001394961
Stanley Basin710,000370,000-4798980
South Blaine Co215,711225,000492920
Sun Valley1,640,0002,439,0004892964
Warm Springs in Ketchum1,500,0001,175,000-2194950
Sub Type Totals: Single Family Residence470,000580,0002395950

CONDOMINIUM STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley9580-157163-116359-6
Hailey27301122249152033
Ketchum152135-1110493-1069690
South of Ketchum202020
North of Ketchum101010
Other01+01+01+
Sun Valley5856-34338-11323612
Warm Springs in Ketchum5752-83332-329303
Sub Type Totals: Condominium392354-9276251-92112151
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley6463-122,661,42524,039,8006354,085381,5847
Hailey1419353,123,3004,322,30038223,093227,4891
Ketchum6963-847,428,85343,041,261-9687,375683,1950
South of Ketchum20323,0000161,5000
North of Ketchum101,775,00001,775,0000
Other01+0325,000+0325,000+
Sun Valley3234618,001,00017,623,500-2562,531518,338-7
Warm Springs in Ketchum2929012,424,99910,291,375-17428,448354,875-17
Sub Type Totals: Condominium2112090105,737,57799,643,236-5501,126476,762-4
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Elkhorn in Sun Valley295,000347,9001797970
Hailey220,000235,000697981
Ketchum455,000485,000696960
South of Ketchum161,5000-1001010
North of Ketchum1,775,0000-100960
Other0325,000+099+
Sun Valley499,000487,500-298980
Warm Springs in Ketchum320,000280,000-1294962
Sub Type Totals: Condominium357,500361,750197970

 

TOWNHOUSE STATISTICS IN THE SUN VALLEY MLS

 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue101010
Elkhorn in Sun Valley1811-3871042115-54
Hailey5646-174443-23835-7
Ketchum4634-26252502422-8
Other1010000
Sun Valley105-5074-4264-33
Warm Springs in Ketchum2817-392110-52770
Sub Type Totals: Townhouse160113-2910692-138773-16
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue10277,0000277,0000
Elkhorn in Sun Valley124-6611,083,5004,335,000-60923,6251,083,75017
Hailey3229-97,545,0007,459,325-1235,781257,2189
Ketchum2314-3927,051,50015,879,500-411,176,1521,134,250-3
Other000000000
Sun Valley65-166,721,87513,440,000991,120,3122,688,000139
Warm Springs in Ketchum7704,836,5004,144,500-14690,929592,071-14
Sub Type Totals: Townhouse8159-2757,515,37545,258,325-21710,066767,0908

VACANT LOT STATISTICS IN THE SUN VALLEY MLS

 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue277,0000-100980
Elkhorn in Sun Valley1,055,0001,085,000294995
Hailey227,000245,000798980
Ketchum728,750945,000299796-1
Other000000
Sun Valley1,080,9382,000,0008595950
Warm Springs in Ketchum725,000630,000-139695-1
Sub Type Totals: Townhouse455,000359,000-2196971
 Total ActiveNew ListingsNumber Under Contract
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue64697273633821162
Elkhorn in Sun Valley32361215166110
Hailey21523810112107-4324746
Ketchum263223192053433
Mackay112512711153619800
South of Ketchum1271356516935192110
North of Ketchum2812-5785-3753-40
Other145120-176686304414-68
South Blaine Co63772225478814140
Stanley Basin10111086-253566
Sun Valley324643103323043-25
Warm Springs in Ketchum4338-112314-395980
Sub Type Totals: Residential Land7968395375454211391518
 Number SoldSold VolumeAverage Sale Price
AreaLast YearThis YearPCTLast YearThis YearPCTLast YearThis YearPCT
Bellevue819137918,5004,324,000370114,812227,57998
Elkhorn in Sun Valley12100315,000814,700158315,000407,35029
Hailey3038264,965,8606,603,58032165,529173,7784
Ketchum44012,175,0008,500,000-303,043,7502,125,000-30
Mackay1870038,380476,000114038,38059,50055
South of Ketchum1321614,016,5007,840,50095308,962373,35720
North of Ketchum53-406,550,0001,295,000-801,310,000431,667-67
Other3916-582,666,7302,925,500968,378182,844167
South Blaine Co1215251,227,9001,291,0005102,32586,067-15
Stanley Basin3433620,000513,000-17206,667128,250-37
Sun Valley43-254,165,0003,007,000-271,041,2501,002,333-3
Warm Springs in Ketchum481001,819,0004,314,323137454,750539,29018
Sub Type Totals: Residential Land1241411339,477,87041,904,6036318,370297,196-6
 Median Sale PricePercent of List
AreaLast YearThis YearPCTLast YearThis YearPCT
Bellevue107,50089,500-169492-1
Elkhorn in Sun Valley315,000407,35029809215
Hailey127,000149,4501795960
Ketchum2,600,0002,200,000-1592942
Mackay38,38052,5003682887
South of Ketchum220,000292,5003291910
North of Ketchum1,392,000500,000-6487947
Other34,00051,500518914563
South Blaine Co111,00090,000-1890922
Stanley Basin200,000137,500-31859714
Sun Valley1,075,000995,000-794984
Warm Springs in Ketchum465,500469,250089890
Sub Type Totals: Residential Land125,000152,5002289978

Statistics prepared by Sheila Liermann from the Sun Valley MLS. Please call Sheila with any questions. 208.481.0450.

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 Thursday, November 14, 2019 1:17 PM.