SUN VALLEY March 2022 Real Estate Market Report
SUN VALLEY MLS THROUGH MARCH 2022 Entire Market—All Properties in Blaine & Custer Counties Sales
Sold $ Volume
New Listings
Median List Price
March
79 (-39%)*
$115M (+1%)
100 (-14%)
$797,000 (+54%)
2022 YTD
211 (-31%)**
$277M (-7%)
241 (-21%)
$825,000 (+11%)
* % Change figures are compared to March 2021 ** % Change figures are compared to the same point in 2021
Residential Homes Sales
Sold $ Volume
New Listings
Median List Price
March
27 (+17%)
$70M (+80%)
34 (-17%)
$1.12M (+21%)
2022 YTD
68 (-7%)
$125M (-6%)
72 (-27%)
$813,000 (-18%)
Condos/Townhomes/Duplexes Sales
Sold $ Volume
New Listings
Median List Price
March
22 (-19%)
$29M (-2%)
32 (-9%)
$935,000 (+67%)
2022 YTD
64 (-11%)
$77M (+4%)
76 (-10%)
$1.17M (+71%)
SUN VALLEY MLS THROUGH MARCH 2022 Vacant Land Sales
Sold $ Volume
New Listings
Median List Price
March
20 (-69%)
$8.5M (-66%)
26 (-7%)
$402,000 (+125%)
2022 YTD
47 (-65%)
$29M (-44%)
65 (-29%)
$439,000 (+11%)
Commercial (Does not include commercial leases) Sales
Sold $ Volume
New Listings
Median List Price
March
3 (0%)
$1.6M (-5%)
3 (-57%)
$1.8M (+322%)
2022 YTD
14 (+56%)
$11M (+72%)
12 (-33%)
$1.5M (+51%)
Luxury Residential ($2.5M+ Sale/List Price Homes, Condos & TH) Sales
Sold $ Volume
New Listings
Median List Price
March
9 (+29%)
$64M (+137%)
28 (+180%)
$6.8M (+104%)
2022 YTD
16 (-24%)
$93M (-5%)
42 (+31%)
$5.9M (+49%)
TWO THINGS TO KNOW ABOUT THE SUN VALLEY MARKET RIGHT NOW • The overall sales for the first quarter of 2022 are down 31%, which is not a surprise to anyone paying attention to the inventory. However, the overall sold dollar volume is down only 7%, a result of higher list and sales prices across the board (see page 6 for a price comparison of 2018 to 2022). • March proved to be a huge month for Luxury closings (residential properties listed at $2.5M and higher), with over $64M in sold dollar volume, in 9 sales. Two homes listed over $15M both closed, one of them being the secondhighest list price ever for a home sold in the Sun Valley market.
RESORT CORE MARKETS THROUGH MARCH 2022 Ketchum Market (includes all property types) Sales
Sold $ Volume
New Listings
Median List Price
March
6 (-65%)
$31M (+7%)
9 (+13%)
$975,000 (+21%)
2022 YTD
35 (-21%)
$83M (+23%)
28 (-15%)
$2.0M (+54%)
Sales
Sold $ Volume
New Listings
Median List Price
March
4 (-43%)
$4.0M (-22%)
2 (-78%)
$1.0M (+106%)
2022 YTD
11 (-42%)
$11M (-43%)
10 (-44%)
$1.1M (+19%)
Warm Springs Market
Sun Valley Village Market Sales
Sold $ Volume
New Listings
Median List Price
March
4 (-50%)
$5.3M (-64%)
16 (+78%)
$6.9M (+798%)
2022 YTD
23 (+21%)
$27M (-36%)
23 (+21%)
$6.8M (+353%)
Sales
Sold $ Volume
New Listings
Median List Price
March
9 (-10%)
$2.7M (-82%)
17 (+54%)
$2.7M (190%)
2022 YTD
24 (-4%)
$33M (+53%)
39 (+26%)
$1.65M (+107%)
Elkhorn Market
RESORT CORE OBSERVATION •
Somewhat surprisingly, overall new listing activity in the Resort Core is on pace with 2021, with 100 new listings joining the market in the first quarter (vs 101 in 2021). This is good news for buyers. The flipside of this coin is that the overall Resort Core median list price is 100% higher right now than it was in 2021’s first quarter. Not great news for buyers.
OTHER MARKETS THROUGH MARCH 2022 North of Ketchum Market (includes all property types) Sales
Sold $ Volume
New Listings
Median List Price
March
2 (+100%)
$22M (+1510%)
0 (-100%)
$0 (-100%)
2022 YTD
3 (-25%)
$25M (-19%)
0 (-100%)
$0 (-100%)
South of Ketchum Market Sales
Sold $ Volume
New Listings
Median List Price
March
7 (-46%)
$12M (-39%)
12 (+0%)
$5.1M (+128%)
2022 YTD
18 (-53%)
$29M (-29%)
21 (-40%)
$1.3M (-14%)
Sales
Sold $ Volume
New Listings
Median List Price
March
24 (-29%)
$16M (+16%)
17 (-54%)
$485,000 (-3%)
2022 YTD
62 (-27%)
$45M (+24%)
63 (-22%)
$485,000 (-18%)
Hailey Market
Bellevue & Beyond Market (Carey, Magic, Gannett, Picabo) Sales
Sold $ Volume
New Listings
Median List Price
March
15 (-40%)
$8.2M (-10%)
15 (-38%)
$430,000 (+64%)
2022 YTD
28 (-43%)
$15M (-25%)
36 (-38%)
$450,000 (-9%)
Custer County (Stanley, Challis, Mackay, Sawtooth City) Sales
Sold $ Volume
New Listings
Median List Price
March
1 (-67%)
$160,000 (-64%)
0 (0%)
$0 (0%)
2022 YTD
4 (0%)
$2.1M (+72%)
2 (-33%)
$1.2M (+162%)
MARKET OBSERVATIONS • North of Ketchum hasn’t seen a single new listing in 2022. New listings are down considerably in all of the markets on this page.
• Unlike several other sectors of the market, the sold dollar volume in Hailey is well ahead of last year’s pace, even though sales themselves are down.
Available Inventory as of April 1 (Not Under Contract) Number
Listing $ Volume
Median List Price
Residential Listings $2.5M and higher
47
$331M
$6.8M
Residential Listings $1M to $2.499M
12
$18M
$1.4M
Residential Listings $999,999 and below
23
$16M
$510,000
Vacant Land
88
$125M
$650,000
Price Comparisons | Quarter 1 2018 vs Quarter 1 2022 Q1 2018 Avg List
Q1 2022 Avg List
Q1 2018 Avg Sold
Q1 2022 Avg Sold
Res. Homes
$1.9M
$3.2M (+68%)
$718,000
$1.8M (+153%)
Condos/ TH
$814,000
$2.3M (+184%)
$542,000
$1.2M (+122%)
Vacant Land
$518,000
$1.3M (+150%)
$600,000
$625,000 (+4%)
Highest Priced Sales in March (List Prices Shown) North of Ketchum Residential Sale.........$18,500,000 Vacant Land.............N/A Resort Core (Ketchum, Warm Springs, Sun Valley and Elkhorn) Residential Sale.........$15,000,000 Vacant Land Sale.....$1,500,000 South of Ketchum Residential Sale.........$4,225,000 Vacant Land Sale.....$1,650,000 South Valley (Hailey, Bellevue and Beyond) Residential Sale.........$2,795,000 Vacant Land Sale.....$1,750,000
Selected Listings from Our Brokerage’s Inventory
105 Camas, Gimlet $19,750,000
30 Lone Pine Rd, Valley Club $895,000
Buster Back Ranch, Sawtooths $11,995,000
265 S Golden Eagle $10,564,000
13404 Hwy 75, N of Ketchum $2,395,000
151 S Main St #409, Ketchum $6,700,000
View All Area Properties
201 Nez Perce, Indian Creek $650,000
460 N Main St, Ketchum Starting at $6,193,000
106 N Hiawatha, Hailey $1,100,000
1810 Airport Cir, Hailey $1,000,000
231 Hillside, Warm Springs $1,250,000
APRIL CALENDAR OF SUN VALLEY EVENTS 1-3 3 8 9 9 & 10 10 14 15 16 & 17 16 21-30 22 26
SV Film Festival | Various Sites in Resort Core Galena Ride, Stride, Glide Triathlon | Galena Higher Ground Supper Club | The Argyros (K) Boulderdash 2022 | Warm Springs Lodge (WS) Portland Cello Project | The Argyros (K) Ramblin’ Jack Elliot (music) | SV Opera (SV) Arvin Ragoolam (writer) | Comm Lib (K) Easter Egg Hunt | Sun Valley Resort (SV) Baldy Bash | Warm Springs Lodge (WS) Rothchild (music) | The Argyros (K) Sweeny Todd (musical) | The Spot (K) Barcelona Flamenco Ballet | The Argyros (K) Warm Springs Preserve (lecture) | Comm Lib (K)
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Information is deemed to be reliable but is not guaranteed. All figures sourced from the Sun Valley MLS April 1, 2022. © 2022 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc ®. Equal Housing Opportunity.