“Sun Valley” refers to our entire market, which encompasses Blaine and Custer Counties in the mountains of Central Idaho. Within the charts, “Sun Valley” refers to the Village of Sun Valley, home of the original ski resort, the Sun Valley Lodge, and the area surrounding the village.
The “Luxury Market” (Residential properties with a list price of $2.5M or higher) in Sun Valley has had a most interesting last six years, as the charts on the facing page indicate. After a few steady years the Luxury Market exploded in 2020. Affluent buyers are recognizing that the quality of life in Sun Valley is difficult to resist. Some other factors which have led to the increase in Luxury Listings, Luxury Sales, and Luxury Sold Dollar Volume: • • • • •
Recognition of the value of Sun Valley listings relative to prices in other Western Resorts Societal challenges facing cities long considered “Feeder Markets” for Sun Valley, primarily in the West The Pandemic has accelerated our society’s capacity to work remotely, allowing more people to live where they choose and still maintain their productivity As heath concerns associated with city living increase, the space our valley offers for living “close but far away” is very attractive May second-home owners made the decision to sell their vacation home and upgrade to a more permanent residence, often resulting in two Luxury Sales
This is just a brief, and somewhat anecdotal, list of what impacted our Luxury Market in 2020. What we can authoritatively say is that many of the higher-end listings (think $4M and above list price) that had been on and off the market for several years found buyers, a great relief to the sellers who had been waiting for this type of market! What remains to be seen is whether homeowners will continue to take advantage of this Seller’s Market and bring their Luxury Homes to the market. Given how much people love living in Sun Valley, this is not an easy decision for homeowners to make, no matter how many buyers are looking to make Sun Valley their home.
Sales
41
Sold $ Volume
$189.9M ($4.87M Avg Sales Price)
Market Share
26% (#1 in the market)
125 Sheep Meadow, North of Ketchum 122 Old Mill Rd, North of Ketchum
$20,000,000 $9,600,000
Represented buyers Represented sellers
105 Farnlun Place, Sun Valley 301 Wall St, Gimlet
$8,900,000 $8,750,000
Represented both sides Represented sellers
140 Bear Lane, Ketchum 13492 Hwy 75, North of Ketchum
$6,950,000 $6,900,000
Represented both sides Represented buyers
18 W Lane Ranch Rd, Sun Valley 30 & 32 Osprey, South of Ketchum
$6,150,000 $5,990,000
Represented sellers Represented sellers
1 Pete’s Lane, Elkhorn 100 Fairway Lane, Sun Valley
$5,900,000 $5,875,000
Represented sellers Represented buyers
350 N Bigwood Dr N, Ketchum 215 Raven Rd #8, Ketchum
$5,650,000 $4,775,000
Represented sellers Represented buyers
250 Crystal Crt, Ketchum 240 Lloyd Crt, Warm Springs
$4,950,000 $4,850,000
Represented sellers Represented buyers
121 Old Mill Rd, North of Ketchum 309 Madison Ave, Gimlet
$4,850,000 $4,575,000
Represented sellers Represented buyers
120 Foothill Dr, South of Ketchum 100 7th St E #3, Ketchum
$4,495,000 $4,195,000
Represented buyers Represented both sides
600 E 2nd Ave, Ketchum 291 W River St, Ketchum
$3,900,000 $3,975,000
Represented sellers Represented both sides
111 Pioneer Mtn Dr, South of Ketchum $3,850,000 118 Hyndman View Dr, South of Ketchum $3,675,000
Represented buyers Represented buyers
25 Greenhorn Rd, South of Ketchum 704 Teheya, Sun Valley
Represented sellers Represented sellers
$3,500,000 $3,375,000
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