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Sheila's Monthly Newsletter Video October 2021

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Scroll Down Below Statistics for the VIDEO SCRIPT 

Year Over Year Comparison

This Year: 1/1/2021 to 10/26/2021
Last Year: 1/1/2020 to 10/26/2020

SUN VALLEY SINGLE-FAMILY HOME MARKET 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 60 67 11 44 59 34 36 39 8
Elkhorn in Sun Valley 42 19 -54 28 18 -35 31 11 -64
Hailey 182 155 -14 154 142 -7 117 119 1
Ketchum 57 30 -47 35 20 -42 20 15 -25
Lost River Valley 13 3 -76 4 2 -50 9 1 -88
South of Ketchum 172 94 -45 119 73 -38 90 58 -35
North of Ketchum 28 25 -10 14 16 14 14 12 -14
Other 40 35 -12 22 31 40 23 20 -13
Sawtooth Valley 14 6 -57 12 5 -58 13 2 -84
South Blaine Co 46 50 8 35 44 25 28 27 -3
Salmon River Area 0 3 + 0 3 + 0 1 +
Sun Valley 41 22 -46 28 16 -42 22 14 -36
Warm Springs in Ketchum 44 23 -47 30 19 -36 28 16 -42
Sub Type Totals: Single Family Residence 739 532 -28 525 448 -14 431 335 -22

 

  Number Sold Sold Volume Average Sale Price
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 30 33 10 12,486,536 21,545,400 72 416,218 652,891 56
Elkhorn in Sun Valley 26 11 -57 37,721,550 31,675,000 -16 1,450,829 2,879,545 98
Hailey 89 119 33 55,382,800 92,118,400 66 622,279 774,104 24
Ketchum 14 15 7 63,210,400 41,195,000 -34 4,515,029 2,746,333 -39
Lost River Valley 8 2 -75 2,572,500 1,057,000 -58 321,562 528,500 64
South of Ketchum 71 49 -30 135,603,250 119,523,650 -11 1,909,905 2,439,258 27
North of Ketchum 14 12 -14 40,318,000 66,560,000 65 2,879,857 5,546,667 92
Other 21 17 -19 12,666,600 6,801,900 -46 603,171 400,112 -33
Sawtooth Valley 12 2 -83 8,367,500 2,030,000 -75 697,292 1,015,000 45
South Blaine Co 23 25 8 15,406,000 23,004,000 49 669,826 920,160 37
Salmon River Area 0 0 0 0 0 0 0 0 0
Sun Valley 16 13 -18 55,385,001 42,486,500 -23 3,461,563 3,268,192 -5
Warm Springs in Ketchum 21 15 -28 39,195,000 37,327,000 -4 1,866,429 2,488,467 33
Sub Type Totals: Single Family Residence 345 313 -9 478,315,137 485,323,850 1 1,386,421 1,550,555 11

 

Median Sale Price Percent of List  
 
Area Last Year This Year PCT Last Year This Year PCT
Bellevue 369,450 545,000 47 98 100 2
Elkhorn in Sun Valley 1,172,500 2,800,000 138 96 102 6
Hailey 509,000 672,000 32 98 100 2
Ketchum 3,337,500 2,375,000 -28 93 100 7
Lost River Valley 247,500 528,500 113 93 100 7
South of Ketchum 1,600,000 1,690,000 5 97 100 3
North of Ketchum 2,159,500 3,250,000 50 91 100 9
Other 390,000 336,000 -13 97 100 2
Sawtooth Valley 450,000 1,015,000 125 98 100 2
South Blaine Co 651,000 829,000 27 97 100 2
Salmon River Area 0 0 0 0 0 0
Sun Valley 2,670,000 3,395,000 27 98 102 3
Warm Springs in Ketchum 1,522,500 1,972,500 29 94 106 13
Sub Type Totals: Single Family Residence 800,000 862,000 7 96 101 5

SUN VALLEY CONDO MARKET STATISTICS   

  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 87 89 2 75 89 18 74 72 -2
Hailey 16 32 100 14 31 121 12 24 100
Ketchum 148 97 -34 114 74 -35 78 72 -7
South of Ketchum 3 0 - 3 0 - 3 0 -
North of Ketchum 0 1 + 0 1 + 0 0 0
Other 1 1 0 1 1 0 1 1 0
Sun Valley 42 46 9 36 41 13 32 33 3
Warm Springs in Ketchum 58 35 -39 44 33 -25 37 25 -32
Sub Type Totals: Condominium 355 301 -15 287 270 -5 237 227 -4
  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 63 68 7 30,324,300 48,260,550 59 481,338 709,714 47
Hailey 10 22 120 3,014,550 10,498,527 248 301,455 477,206 58
Ketchum 71 81 14 65,195,953 115,237,250 76 918,253 1,422,682 54
South of Ketchum 3 0 - 620,000 0 - 206,667 0 -
North of Ketchum 0 0 0 0 0 0 0 0 0
Other 1 1 0 739,000 289,000 -60 739,000 289,000 -60
Sun Valley 32 31 -3 17,275,000 33,802,300 95 539,844 1,090,397 101
Warm Springs in Ketchum 30 25 -16 18,230,000 15,787,275 -13 607,667 631,491 3
Sub Type Totals: Condominium 210 228 8 135,398,803 223,874,902 65 644,756 981,907 52

 

  Median Sale Price Percent of List
Area Last Year This Year PCT Last Year This Year PCT
Elkhorn in Sun Valley 430,000 654,975 52 98 101 3
Hailey 271,400 352,500 29 98 100 1
Ketchum 625,000 770,000 23 98 102 3
South of Ketchum 210,000 0 -100 100 0 -
North of Ketchum 0 0 0 0 0 0
Other 739,000 289,000 -60 100 100 0
Sun Valley 550,000 1,050,000 90 98 101 3
Warm Springs in Ketchum 449,500 580,000 29 97 102 4
Sub Type Totals: Condominium 455,250 682,750 49 98 101 3

SUN VALLEY TOWNHOUSE MARKET 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 2 2 0 2 2 0 1 2 100
Elkhorn in Sun Valley 24 14 -41 20 11 -45 19 13 -31
Hailey 78 28 -64 70 25 -64 43 27 -37
Ketchum 47 22 -53 36 19 -47 38 16 -57
North of Ketchum 1 0 - 0 0 0 1 0 -
Sun Valley 3 4 33 3 4 33 2 4 100
Warm Springs in Ketchum 28 15 -46 22 12 -45 19 11 -42
Sub Type Totals: Townhouse 183 85 -53 153 73 -52 123 73 -40

  

  Number Sold Sold Volume Average Sale Price
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 0 2 + 0 890,000 + 0 445,000 +
Elkhorn in Sun Valley 8 13 62 11,631,000 21,014,000 80 1,453,875 1,616,462 11
Hailey 26 30 15 7,326,080 11,108,270 51 281,772 370,276 31
Ketchum 25 18 -28 32,829,795 24,224,200 -26 1,313,192 1,345,789 2
North of Ketchum 1 0 - 749,000 0 - 749,000 0 -
Sun Valley 1 4 300 489,000 8,985,000 1737 489,000 2,246,250 359
Warm Springs in Ketchum 16 10 -37 12,501,000 16,324,551 30 781,312 1,632,455 108
Sub Type Totals: Townhouse 77 77 0 65,525,875 82,546,021 25 850,985 1,072,026 25
  Median Sale Price Percent of List
Area Last Year This Year PCT Last Year This Year PCT
Bellevue 0 445,000 + 0 96 +
Elkhorn in Sun Valley 1,485,000 1,900,000 27 99 98 0
Hailey 278,250 387,000 39 97 102 4
Ketchum 1,260,000 1,537,500 22 98 104 5
North of Ketchum 749,000 0 -100 99 0 -
Sun Valley 489,000 2,212,500 352 98 104 6
Warm Springs in Ketchum 747,000 1,536,250 105 99 102 3
Sub Type Totals: Townhouse 682,000 709,500 4 98 101 3

Information is deemed to be reliable, but is not guaranteed. © 2021 MLS and FBS. Prepared by Sheila Liermann, Associate Broker, AAB, RSPS, GRI, SFR on Wednesday, October 27, 2021 11:08 AM.  

video script

Greetings from East Fork:  

I hope this video finds you well and cozy on these chilly days. Hasn’t this fall been amazing with the vibrant aspen trees and snow on the high mountains? I don’t think it gets any better than this. 

Do you wonder what’s going on with the market? Me too! It’s crazy.  

How has the pandemic changed Sun Valley real estate? In March of 2020, like many I just couldn’t fathom that Baldy would close for the year. The real estate market reacted quickly, too, with the median price of residential property dropping almost 14%. Then prices bumbled along for a few months before jumping up 12% in September. Overall since the beginning of the pandemic, the price of residential property in Sun Valley has increased over 30%.  

I disagree with the statement that all real estate is local. In the Wood River Valley, all real estate is hyper-local.  

For instance, a condo in Ketchum reacts differently to the market than a condo in Sun Valley. The median price of a condo in Ketchum is up Year-to-Date 23% to $770,000, while the median price of a Sun Valley condo is up 90% to $1,050,000. Yes, the median price of a Sun Valley condo is up 90%. That wasn’t a typo in my script!

Single-family homes in Warm Springs are selling at 106% of asking price - that is the widest gap between asking price and selling price in any neighborhood.

Across all neighborhoods, homes are selling at 101% of asking price, on average.

Because we are a small community with a small data base, these numbers make statistical analysis a bit difficult. In other words, these numbers are intended as a guide only, because as I said various property types and various neighborhoods react to the market in their own unique way. Contact me if you are interested in discussing a specific neighborhood or a specific property type.

It would appear that residential prices are leveling off. Is this a trend? An anomaly? A seasonal change in the market? We don’t know yet. So check out my November newsletter for up-to-date statistics and a recipe for my make-ahead mashed potatoes so you can ski on Thanksgiving instead of slaving over the stove. Believe me, nobody will know you made them ahead.   

 Until next time, so long.

Respectfully Blogged by SHEILA LIERMANN | 208.481.0450 | SunValleySheila@gmail.com

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