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 2/28/2022Last 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
2 | 968,031 | 33 |