Sun Valley Market Report Fall 2017 (Sept-Nov)
Table of Contents
Introduction
02
3
Sun Valley
4-5
Elkhorn
6-7
Warm Springs
8-9
Ketchum
10-11
North Ketchum
12-13
Mid-Valley
14-15
Hailey
16-17
Bellevue
18-19
Upcoming Events
20-21
Engel & Völkers Network
22-23
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
The mountains are calling, and I must go... -John Muir
At Engel & Völkers Sun Valley, we strive to embrace our town’s simple ethos - We work hard, and we play hard. Our real estate advisors work each deal with the same passion and intensity as if they were making tracks down Baldy or fighting a trophy trout on the Big Wood River. Our advisors are not only the most successful in our area, they also share traits which align with Engel & Völkers’ culture, such as teamwork, passion, and competence. Combined with the utilization of state-of-the-art real estate tools and technology, premium brand recognition, and unrivaled market knowledge, we are able to offer our clients first-class service during the purchase or sale process.
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
03
Sun Valley Neighborhood Market Report
105 Wedeln Lane | Offered at $4,499,500
Sun Valley - Single Family Residence September, October, November
04
Metric
2016
2017
% Change
New Listings
5
6
20%
Pending Sales
3
2
-33%
Closed Sales
1
4
300%
Days on Market
151
311
40%
Median Sale Price
$1,100,000
$1,782,500
62%
Average Sale Price
$1,100,000
$1,745,000
59%
Percent of List Price Received
84.94%
87.36%
3%
Inventory for Sale
42
27
-36%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
When it comes to resort living, there is no better area than right in Sun Valley. Whether you are looking for some great dining, or recreational experiences, the resort grounds have lots of options. Take a few laps on the iconic ice rink, indulge in some “me-time” at the spa, or peruse the inventory at one of the many resort shops. To truly experience Sun Valley in the winter, the best view is from a horse-drawn sleigh. Grab a cup of hot cocoa from the Inn Lounge and load into a sleigh for views of the surrounding hills like you have never seen. After a long day skiing or boarding, come back to the resort grounds for dinner at the brand-new Village Station and après drinks at the Duchin Lounge while listening to some live music and absorbing the idyllic winter ambiance that Sun Valley does so well.
Sun Valley - Condominium September, October, November Metric
2016
2017
% Change
New Listings
1
11
1000%
Pending Sales
6
9
50%
Closed Sales
13
13
0%
Days on Market
339
103
-70%
Median Sale Price
$425,000
$565,000
33%
Average Sale Price
$498,153
$563,305
13%
Percent of List Price Received
89.64%
94.64%
6%
Inventory for Sale
29
24
-17%
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Trend
05
Elkhorn Neighborhood Market Report
120 High Country Lane #C2 | Offered at $1,045,000
Elkhorn - Single Family Residence September, October, November
06
Metric
2016
2017
% Change
New Listings
4
8
100%
Pending Sales
1
4
300%
Closed Sales
5
9
80%
Days on Market
125
132
6%
Median Sale Price
$830,000
$1,760,000
112%
Average Sale Price
$1,125,000
$1,759,222
56%
Percent of List Price Received
96.11%
92.35%
-4%
Inventory for Sale
33
39
18%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
As a convenient extension of Sun Valley, Elkhorn provides a little more space for the entire family without sacrificing views or proximity. With a vast network of paved trails and multiple routes along the bus line, Elkhorn offers quick access to everything Ketchum and Sun Valley have to offer with a little more serenity from the hustle and bustle. With easy access to Dollar Mountain, Elkhorn is the perfect location for families of all sizes. Drop the kids off at Dollar before continuing to Bald Mountain. Or if you consider yourself to be the daring type, check out the freestyle options available on Dollar Mountain’s various terrain parks. After a long day outdoors, warm up at Elkhorn’s Olympic pool, sauna, steam room and hot tub before catching the free Mountain Rides bus into Ketchum for a great meal.
Elkhorn - Condominium September, October, November Metric
2016
2017
% Change
New Listings
16
21
31%
Pending Sales
21
18
-14%
Closed Sales
21
31
48%
Days on Market
279
222
-20%
Median Sale Price
$315,500
$305,000
-3%
Average Sale Price
$416,996
$451,212
8%
Percent of List Price Received
92.67%
92.81%
0%
Inventory for Sale
75
58
-23
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Trend
07
Ketchum Neighborhood Market Report
140 W Sun Valley Road | Offered at $2,700,000
Ketchum - Single Family Residence September, October, November
08
Metric
2016
2017
% Change
New Listings
11
14
27%
Pending Sales
2
6
200%
Closed Sales
1
11
1000%
Days on Market
71
378
432%
Median Sale Price
$1,100,000
$1,865,000
70%
Average Sale Price
$1,100,000
$3,424,545
211%
Percent of List Price Received
91.67%
79.39%
-13%
Inventory for Sale
49
54
10%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
For all those craving a taste of life in an authentic mountain town, look no further than Ketchum’s downtown. It’s easy to stumble into great shops, amazing restaurants, and a variety of diverse events and festivities our idyllic western mountain town offers. Downtown Ketchum homes put everything in walking distance from the base of River Run to the finest art galleries. Whether you’re looking for a condo or a house you can count on getting more mileage on your shoes or bike than on your car! A visit to Ketchum isn’t complete without a trip to Pioneer Saloon. Graze on perfectly-cooked steaks or sip a famous Pioneer Saloon margarita surrounded by Ketchum’s western history. Bigwood Bread and Perry’s provide plenty of options for breakfast and lunch.
Ketchum - Condominium September, October, November Metric
2016
2017
% Change
New Listings
25
19
-24%
Pending Sales
18
15
-17%
Closed Sales
29
26
-10%
Days on Market
231
184
-20%
Median Sale Price
$389,000
$494,000
27%
Average Sale Price
$703,129
$819,596
17%
Percent of List Price Received
91.33%
90.45%
-1%
Inventory for Sale
100
86
-14%
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Trend
09
Warm Springs Neighborhood Market Report
1531 Warm Springs Road #7 | Offered at $260,000
Warm Springs - Single Family Residence September, October, November
10
Metric
2016
2017
% Change
New Listings
6
10
67%
Pending Sales
5
7
40%
Closed Sales
6
11
83%
Days on Market
216
227
5%
Median Sale Price
$817,500
$725,000
-11%
Average Sale Price
$988,799
$844,318
-11%
Percent of List Price Received
90.80%
90.77%
0%
Inventory for Sale
46
39
-15%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
The Warm Springs neighborhood of Ketchum is northwest of downtown, and is comprised of an eclectic mix of older ski cabins and condominiums, as well as multi-million dollar homes with views of the ski runs. While the price point may differ, all residents of this area share the same thing - great proximity to Sun Valley’s Warm Springs base area, and downtown Ketchum. Although technically a part of Ketchum, Warm Springs has a very distinct vibe that’s all its own. Located along the bus route makes a trip downtown for dinner a breeze, while being located north of town keeps things quieter, even on the busiest of weekends. Perfect for the après lifestyle, Warm Springs features a local-favorite - Apple’s Bar & Grill, from which you can virtually ski-in and ski-out. If Apple’s doesn’t quench your thirst, however, stop by Grumpy’s for a schooner of your favorite beer and a juicy burger.
Warm Springs - Condominium September, October, November Metric
2016
2017
% Change
New Listings
13
5
-62%
Pending Sales
5
3
-40%
Closed Sales
6
3
-50%
Days on Market
364
314
-14%
Median Sale Price
$265,000
$739,000
179%
Average Sale Price
$412,166
$766,166
86%
Percent of List Price Received
88.89%
87.96%
-1%
Inventory for Sale
41
33
-20%
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Trend
11
North Ketchum Neighborhood Market Report
13460 & 13464 Highway 75 | Offered at $16,000,000
North Ketchum - Single Family Residence September, October, November
12
Metric
2016
2017
% Change
New Listings
3
8
167%
Pending Sales
4
3
-25%
Closed Sales
3
3
0%
Days on Market
290
186
-46%
Median Sale Price
$875,000
$1,262,500
44%
Average Sale Price
$823,333
$1,154,166
40%
Percent of List Price Received
83.87%
86.67%
3%
Inventory for Sale
31
29
-6%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
The Boulder Mountains frame the majestic back drop north of Ketchum, which is the gateway to some of Central Idaho’s most untouched recreation areas. Some of Ketchum’s finest ‘mini retreats’ are located north of Ketchum, and the fishing isn’t too bad either! North Ketchum features single-family residences with expansive properties and views. If you are looking for some space to spread out North Ketchum offers the accessibility to all the town has to offer with the peace and quiet that comes from living in a mountain environment. Known for some of the best Nordic trails, North Ketchum provides mile after mile of immaculately groomed trails for classic and skate cross-country skiing and snowshoeing. After a long day on the trails, pop into Galena Lodge for lunch and warm up by the fire. Don’t worry if you’re a beginner! Galena Lodge also offers a variety of lessons and guided trips to ensure you have a fantastic time.
13511 Highway 75 | Offered at $3,375,000
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
13
Mid-Valley Neighborhood Market Report
121 Wilderness Drive | Offered at $1,495,000
Mid-Valley - Single Family Residence September, October, November
14
Metric
2016
2017
% Change
New Listings
19
14
-26%
Pending Sales
10
7
-30%
Closed Sales
11
15
36%
Days on Market
250
186
-26%
Median Sale Price
$1,150,000
$1,175,000
2%
Average Sale Price
$1,198,636
$2,023,566
69%
Percent of List Price Received
86.85%
74.31%
-14%
Inventory for Sale
107
97
-9%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Mid-Valley encompasses the area between Ketchum & Hailey. While providing a more-remote, authentic mountain experience, the Mid-Valley area also offers great proximity to downtown Ketchum and Hailey. True to the area’s character, the housing is a mix of older ‘locals’ housing and exclusive mountain retreats. Similar to North Ketchum, Mid Valley features more expansive properties and a little more seclusion. With easy access to town via car, bus, bike or Nordic skiing, Mid-Valley serves as a great middle location to all the culture of Ketchum and the more local-oriented town of Hailey. Although there isn’t much when it comes to shopping or dining in Mid-Valley, the outdoor activities are abundant. Whether you are looking for a quick hike with your dog, a day out Nordic skiing, or some time spent in the river searching for your white whale, you can find it in Mid-Valley, often right outside your door.
140 Eagle Lake Drive | Offered at $3,200,000
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
15
Hailey Neighborhood Market Report
157 Aspen Lakes Drive | Offered at $5,895,000
Hailey - Single Family Residence September, October, November
16
Metric
2016
2017
% Change
New Listings
36
35
-3%
Pending Sales
27
28
4%
Closed Sales
34
38
12%
Days on Market
164
128
-22%
Median Sale Price
$335,000
$374,850
12%
Average Sale Price
$361,122
$457,736
27%
Percent of List Price Received
92.83%
92.70%
0%
Inventory for Sale
86
73
-15%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Voted the Best Place to Raise a Family in Idaho, Hailey is a real town with a history of its own. The older store fronts, including Hailey’s City Hall, are reminiscent of the area’s mining history. Hailey features many vibrant neighborhoods, and is a great place to raise a family. With an abundance of parks and a cozy downtown, you are sure to find a neighborhood that fits your unique needs. If you are looking for a nice night out, pop into Zou75 for some great sushi and elegant ambiance. For family fun, check out the Sun Valley Suns hockey schedule to watch our local boys take on teams from around the country. Hailey offers a variety of shopping experiences along Main Street. For those seeking something with some local flair, check out The Contemporary Cottage, while The Wildflower can ensure you look ‘mountain-chic’.
Indian Creek Ranches 1&2 | Offered at $299,000
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
17
Bellevue Neighborhood Market Report
907 Riverside Drive | Offered at $799,000
Bellevue - Single Family Residence September, October, November
18
Metric
2016
2017
% Change
New Listings
12
11
-8%
Pending Sales
9
14
56%
Closed Sales
12
20
67%
Days on Market
176
123
-30%
Median Sale Price
$272,500
$298,500
10%
Average Sale Price
$358,166
$310,767
-13%
Percent of List Price Received
97.05%
94.40%
-3%
Inventory for Sale
38
44
16%
Trend
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Bellevue provides a more-rural experience than the neighboring communities to the north. Bellevue’s housing stock is comprised of charming cottages in town, and sprawling ranches, river lots, and farmland south of Bellevue. With excellent proximity to the Ketchum/Sun Valley Resort area, as well as Silver Creek’s world-class fishing, this area is hard to beat. If you find yourself in the South Valley, Brandie’s Kitchen is the perfect breakfast stop before you take in the expansive views and slower lifestyle, perfect for those looking for access to all the town has to offer without the ebbs and flows of tourism high seasons. Mahoney’s Bar & Grill offers a wide variety for lunch and dinner and is located right on Main Street.
100 Mustang Lane | Offered at $819,000
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
19
Upcoming Events Things to Do Around the Valley Holiday High Tea Saturday, Dec 23rd - 1-4pm Gretchen’s Restaurant - Sun Valley Lodge Join us this December for Sun Valley’s memorable High Tea! This holiday tradition includes a selection of hot teas paired with savory finger sandwiches and delectable pastries. A champagne option is also available.
Brunch with Santa Sunday, Dec 24th - 9am-2pm Sun Valley Club A special buffet with kid-friendly dishes and traditional favorites. Live and festive holiday music. Reservations are required for this popular event so be sure to give the Sun Valley club a call today!
Christmas Eve Celebration Sunday, Dec 24th - 3-8pm Sun Valley Resort Sun Valley pulls out all the stops for getting in the Christmas spirit! Festivites begin with the Winter Wonderland Ice Show on the outdoor rink, followed by the Dollar Mountain Torchlight Parade and Fireworks. Gates open at 3pm!
Mike Murphy (the funny guy!) December 26th and 27th Whiskey Jacques Come see our very own Mike Murphy performing live upstairs at Whiskey Jacques!! Enjoy great drinks, a limited menu and Mike is sure to make you laugh!
20
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
Clicquot in the Snow Wednesday, Dec 27th - 1-5pm River Run Lodge Wintery celebration of Vueve Cliquot, live music, photobooth fun, and #cliquotinthesnow treats! Come experience a true après ski party!
Sleigh Ride Dinners Fridays & Saturdays Trail Creek Cabin Embrace winter’s romance with one of our most popular activities: a classic horse-drawn sleigh ride through the snowy hills. take the sleigh ride to Trail Creek Cabin for dinner with the family.
Sun Valley Nordic Festival February 1-4th Events Throughout the Valley The Zions Bank Boulder Mountain Tour and Sun Valley Nordic Festival welcome you to NordicTown USA in beautiful Sun Valley, Idaho.
Sun Valley Suns Hockey Fridays & Saturday Campion Ice House - Hailey Come watch the excitement as the Sun Valley Suns take on teams from around the country. All home games begin at 7pm and have three 20-minute periods. Great fun for the whole family!
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
21
Engel & Volkers Network Over 800 Shops in 38 Countries
Engel & Völkers is one of the world’s leading service companies specialised in the brokerage of premium residential property, commercial real estate, yachts and aircrafts. Based in over 800 locations in total, Engel & Völkers offers both private and institutional clients a professionally tailored range of services. Consultancy, sales and leasing form the core competences of the staff of more than 10,000 employees. The company is currently operating in over 30 countries on four continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the Company’s success.
22
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
A Strong Brand A Versatile Company Profile
As a specialist for the brokerage of high-end properties in the world’s most beautiful locations, Engel & Völkers has made a name for itself over the past decades – both in Germany and abroad.
Engel & Völkers Yachting is a luxury yachting brokerage house offering yacht sales & purchase, yacht charter, new builds, refits and berth services worldwide.
Business aviation is our profession. Business aircraft are our expertise: from small jets to long-range super jets. From business aircraft charter to aircraft purchase and sales. From aviation legal and tax consultancy to aircraft structured finance.
Engel & Völkers is an international commercial consulting real estate firm. Through our exclusivity and the constantly growing network of our well-known brand, we have access to a wide range of international clients.
Engel & Völkers is a proud partner of the Special Olympics and the first cause-marketing sponsor of the organization’s Play Unified, global youth campaign. Play Unified was launched to inspire and mobilize youth around the world.
291 N First Avenue • Ketchum • Idaho • 83340 sunvalley.evusa.com 208-928-7223
23
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