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IN THE WEEDS: Sun Valley Real Estate Market Update - February 28 2022

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 What's happening in the Sun Valley real estate market?

The inventory level of residential property is down 28% over this time last year, which has contributued to lower pending sales and closed deals.  It's a fundamental economic principle that when demand exceeds supply, prices tend to rise. The median price of a residential property in the Sun Valley MLS is now $770,000, up 18% over last year. Those properties are selling at 100% of the asking price, or in some cases, above.   

The supply of vacant residential land is also down and prices are following the typical economic model. To wit, with the exception of Bellevue, all other areas of the Wood River Valley have seen prices rise over 2021. 

Below are all of the most current statistics you need to make an informed decision about buying, selling, or investing in the Sun Valley real estate market. Included are inventory levels, pending deals, sold deals, median and average prices, volume levels, and the percentage of sold price vs listing price. 

Year-Over-Year Comparison

This Year: 3/1/2021 to 2/28/2022
Last Year: 3/1/2020 to 2/28/2021

THE SUN VALLEY SINGLE-FAMILY HOME MARKET 

  Total Active New Listings Number Under Contract
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 68 64 -5 56 57 1 43 45 4
Elkhorn in Sun Valley 39 22 -43 32 21 -34 30 15 -50
Hailey 193 172 -10 168 165 -1 151 143 -5
Ketchum 64 30 -53 44 22 -50 28 17 -39
Lost River Valley 12 4 -66 4 3 -25 10 1 -90
South of Ketchum 182 85 -53 127 71 -44 109 56 -48
North of Ketchum 33 25 -24 18 17 -5 17 13 -23
Other 41 40 -2 25 33 32 21 28 33
Sawtooth Valley 15 10 -33 13 9 -30 14 5 -64
South Blaine Co 48 51 6 38 49 28 37 29 -21
Salmon River Area 0 3 + 0 3 + 0 1 +
Sun Valley 41 16 -60 31 11 -64 21 12 -42
Warm Springs in Ketchum 44 23 -47 31 21 -32 30 17 -43
Sub Type Totals: Single Family Residence 780 545 -30 587 482 -17 511 382 -25

 

  Number Sold Sold Volume Average Sale Price
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 42 43 2 18,539,436 30,705,000 65 441,415 714,070 61
Elkhorn in Sun Valley 33 14 -57 55,244,365 48,985,000 -11 1,674,072 3,498,929 109
Hailey 135 143 5 82,229,180 119,553,257 45 609,105 836,037 37
Ketchum 27 15 -44 106,777,900 48,530,000 -54 3,954,737 3,235,333 -18
Lost River Valley 11 1 -90 4,454,500 263,000 -94 404,955 263,000 -35
South of Ketchum 97 60 -38 202,292,500 161,042,650 -20 2,085,490 2,684,044 28
North of Ketchum 17 13 -23 70,299,000 46,160,000 -34 4,135,235 3,550,769 -14
Other 23 22 -4 14,081,900 7,948,900 -43 612,257 361,314 -40
Sawtooth Valley 13 5 -61 8,797,500 5,171,875 -41 676,731 1,034,375 52
South Blaine Co 30 32 6 20,010,000 26,181,999 30 667,000 818,187 22
Salmon River Area 0 1 + 0 402,000 + 0 402,000 +
Sun Valley 23 13 -43 81,810,001 40,506,500 -50 3,556,957 3,115,885 -12
Warm Springs in Ketchum 26 15 -42 50,627,000 39,347,000 -22 1,947,192 2,623,133 34
Sub Type Totals: Single Family Residence 477 377 -20 715,163,282 574,797,181 -19 1,499,294 1,524,661 1

 

  Median Sale Price Percent of List
Area Last Year This Year PCT Last Year This Year PCT
Bellevue 404,500 615,000 52 98 99 1
Elkhorn in Sun Valley 1,200,000 3,047,500 153 98 102 4
Hailey 519,000 725,000 39 98 100 2
Ketchum 2,575,000 3,100,000 20 96 99 3
Lost River Valley 250,000 263,000 5 92 100 9
South of Ketchum 1,715,000 1,810,000 5 97 100 3
North of Ketchum 2,600,000 2,000,000 -23 92 98 6
Other 395,000 318,000 -19 97 108 11
Sawtooth Valley 440,000 1,096,875 149 97 97 0
South Blaine Co 645,000 610,000 -5 96 100 3
Salmon River Area 0 402,000 + 0 101 +
Sun Valley 2,890,000 3,395,000 17 97 101 4
Warm Springs in Ketchum 1,595,000 2,225,000 39 95 105 10
Sub Type Totals: Single Family Residence 825,000 885,000 7 96 101 5

THE SUN VALLEY CONDO 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 99 97 -2 87 96 10 87 81 -6
Hailey 18 34 88 18 32 77 13 24 84
Ketchum 153 106 -30 109 94 -13 95 85 -10
South of Ketchum 3 0 - 1 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 43 47 9 37 46 24 33 35 6
Warm Springs in Ketchum 61 36 -40 43 35 -18 45 30 -33
Sub Type Totals: Condominium 378 322 -14 296 305 3 277 256 -7

 

  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 80 83 3 42,439,300 60,999,950 43 530,491 734,939 38
Hailey 11 27 145 3,374,050 12,388,027 267 306,732 458,816 49
Ketchum 92 94 2 93,420,453 130,658,250 39 1,015,440 1,389,981 36
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 35 34 -2 22,099,000 37,581,850 70 631,400 1,105,349 75
Warm Springs in Ketchum 41 31 -24 27,765,500 19,451,275 -29 677,207 627,460 -7
Sub Type Totals: Condominium 263 270 2 190,457,303 261,368,352 37 724,172 968,031 33

 

  Median Sale Price Percent of List
Area Last Year This Year PCT Last Year This Year PCT
Elkhorn in Sun Valley 450,000 675,000 50 99 101 2
Hailey 285,000 355,000 24 99 100 1
Ketchum 652,500 772,500 18 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 575,000 932,500 62 99 101 2
Warm Springs in Ketchum 526,000 570,000 8 97 101 3
Sub Type Totals: Condominium 526,000 680,000 29 99 101 2

THE SUN VALLEY TOWNHOUSE MARKET 

  Total Active New Listings Number Under Contract
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 3 3 0 3 3 0 3 3 0
Elkhorn in Sun Valley 23 25 8 19 22 15 19 20 5
Hailey 71 21 -70 49 20 -59 52 21 -59
Ketchum 55 20 -63 47 18 -61 47 15 -68
North of Ketchum 0 0 - 0 0 0 0 0 0
Sun Valley 6 3 -50 6 3 -50 6 2 -66
Warm Springs in Ketchum 27 13 -51 20 13 -35 21 10 -52
Sub Type Totals: Townhouse 185 85 -54 144 79 -45 148 71 -52

 

  Number Sold Sold Volume Average Sale Price
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 2 3 50 688,500 1,437,000 108 344,250 479,000 39
Elkhorn in Sun Valley 12 14 16 17,767,000 24,314,000 36 1,480,583 1,736,714 17
Hailey 45 30 -33 13,765,169 11,783,859 -14 305,893 392,795 28
Ketchum 37 21 -43 53,458,270 32,788,700 -38 1,444,818 1,561,367 8
North of Ketchum 1 0 - 749,000 0 - 749,000 0 -
Sun Valley 5 3 -40 6,159,000 8,225,000 33 1,231,800 2,741,667 122
Warm Springs in Ketchum 20 11 -45 18,821,500 18,444,821 -2 941,075 1,676,802 78
Sub Type Totals: Townhouse 122 82 -32 111,408,439 96,993,380 -12 913,184 1,182,846 29

 

  Median Sale Price Percent of List
Area Last Year This Year PCT Last Year This Year PCT
Bellevue 344,250 490,000 42 100 97 -2
Elkhorn in Sun Valley 1,485,000 1,947,500 31 99 97 -1
Hailey 283,000 412,618 45 98 102 3
Ketchum 1,125,000 1,795,000 59 99 103 4
North of Ketchum 749,000 0 -100 99 0 -
Sun Valley 760,000 3,630,000 377 98 102 3
Warm Springs in Ketchum 777,000 1,622,500 108 99 100 1
Sub Type Totals: Townhouse 630,000 830,000 31 99 100 1

THE SUN VALLEY RESIDENTIAL LAND MARKET 

  Total Active New Listings Number Under Contract
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 81 38 -53 69 22 -68 49 32 -34
Elkhorn in Sun Valley 35 11 -68 19 8 -57 24 7 -70
Hailey 189 92 -51 60 64 6 124 56 -54
Ketchum 19 9 -52 11 7 -36 8 5 -37
Lost River Valley 17 10 -41 9 7 -22 10 5 -50
South of Ketchum 157 75 -52 80 54 -32 101 34 -66
North of Ketchum 20 8 -60 16 5 -68 9 4 -55
Other 132 61 -53 47 34 -27 47 39 -17
South Blaine Co 84 74 -11 43 42 -2 38 41 7
Salmon River Area 0 6 + 0 6 + 0 4 +
Sawtooth Valley 7 1 -85 6 1 -83 5 0 -
Sun Valley 48 20 -58 19 19 0 34 18 -47
Warm Springs in Ketchum 26 15 -42 12 12 0 14 7 -50
Sub Type Totals: Residential Land 815 420 -48 391 281 -28 463 252 -45

 

  Number Sold Sold Volume Average Sale Price
Area Last Year This Year PCT Last Year This Year PCT Last Year This Year PCT
Bellevue 11 66 500 2,329,000 11,626,000 399 211,727 176,152 -16
Elkhorn in Sun Valley 20 9 -55 10,107,000 6,964,427 -31 505,350 773,825 53
Hailey 115 71 -38 23,416,044 18,928,066 -19 203,618 266,592 30
Ketchum 7 5 -28 16,094,000 10,385,000 -35 2,299,143 2,077,000 -9
Lost River Valley 7 8 14 483,000 2,702,000 459 69,000 337,750 389
South of Ketchum 95 38 -60 47,002,500 24,685,000 -47 494,763 649,605 31
North of Ketchum 7 4 -42 30,922,500 6,865,000 -77 4,417,500 1,716,250 -61
Other 33 48 45 3,636,800 10,490,400 188 110,206 218,550 98
South Blaine Co 35 40 14 5,680,000 8,641,598 52 162,286 216,040 33
Salmon River Area 0 4 + 0 900,000 + 0 225,000 +
Sawtooth Valley 5 0 - 5,115,000 0 - 1,023,000 0 -
Sun Valley 29 11 -62 41,464,000 18,450,000 -55 1,429,793 1,677,273 17
Warm Springs in Ketchum 11 10 -9 7,740,000 9,379,100 21 703,636 937,910 33
Sub Type Totals: Residential Land 375 314 -16 193,989,844 130,016,591 -32 517,306 414,066 -19

 

  Median Sale Price Percent of List
Area Last Year This Year PCT Last Year This Year PCT
Bellevue 175,000 110,000 -37 92 98 7
Elkhorn in Sun Valley 452,500 750,000 65 95 99 4
Hailey 165,000 235,000 42 96 99 2
Ketchum 1,550,000 1,695,000 9 95 96 0
Lost River Valley 49,000 195,000 297 99 96 -2
South of Ketchum 375,000 505,500 34 96 99 2
North of Ketchum 1,112,500 1,600,000 43 98 96 -1
Other 45,000 92,500 105 93 94 1
South Blaine Co 90,000 163,500 81 90 97 7
Salmon River Area 0 150,000 + 0 100 +
Sawtooth Valley 860,000 0 -100 102 0 -
Sun Valley 1,275,000 1,695,000 32 96 104 8
Warm Springs in Ketchum 700,000 597,500 -14 92 94 2
Sub Type Totals: Residential Land 250,000 229,500 -8 95 98 3

Be the first to see a shift in the Sun Valley real estate market. Check back as I update the statistics in a blog post every month. 

Respectfully blogged, 

SHEILA LIERMANN | ASSOCIATE BROKER | SUN VALLEY REAL ESTATE LLC 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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