SUN VALLEY REAL ESTATE MARKET REPORT OCTOBER 2021
SUN VALLEY MLS THROUGH OCTOBER 2021 Entire Market—All Properties in Blaine & Custer Counties Sales
Sold $ Volume
New Listings
Median List Price
October
100 (-41%)*
$123M (-27%)
92 (-9%)
$797,000 (+77%)
2021 YTD
1100 (+11%)**
$1.08B (+19%)
1287 (-15%)
$725,000 (+26%)
Residential Homes
* % Change figures are compared to October 2020 ** % Change figures are compared to the same point in 2020.
Sales
Sold $ Volume
New Listings
Median List Price
October
47 (-28%)
$69M (-34%)
43 (+30%)
$1.2M (+77%)
2021 YTD
333 (-7%)
$510M (+3%)
462 (-14%)
$997,000 (+5%)
Sales
Sold $ Volume
New Listings
Median List Price
October
30 (-50%)
$31M (-24%)
22 (-15%)
$775,000 (+68%)
2021 YTD
310 (+1%)
$310M (+42%)
347 (-27%)
$655,000 (+20%)
Condos/Townhomes
SUN VALLEY MLS THROUGH OCTOBER 2021 Vacant Land Sales
Sold $ Volume
New Listings
Median List Price
October
13 (-61%)
$10.5M (-37%)
19 (-46%)
$695,000 (+335%)
2021 YTD
352 (+47%)
$143M (+16%)
331 (-17%)
$380,000 (+27%)
Commercial (Does not include commercial leases) Sales
Sold $ Volume
New Listings
Median List Price
October
4 (0%)
$3.3M (+91%)
6 (+100%)
$777,000 (+73%)
2021 YTD
44 (+26%)
$35M (+21%)
81 (+25%)
$950,000 (+76%)
Luxury Residential ($2.5M+ Sale/List Price Homes, Condos & TH) Sales
Sold $ Volume
New Listings
Median List Price
October
9 (-47%)
$35M (-49%)
9 (+80%)
$4.35M (+11%)
2021 YTD
78 (+18%)
$332M (+20%)
130 (-11%)
$3.88M (+3%)
ONE THING TO KNOW • Since October of 2020 was one of the busiest months in the history of real estate in the Sun Valley market, it stands to reason that many of the monthly comparisons will be in the negatives this month. It was still a busy October for closings by any normal measure.
ONE NUMBER THAT JUMPS OUT • The overall Median List Price for all properties is up 26% over 2020’s Median List Price. This number is creating new kinds of pressures on both buyers and sellers.
RESORT CORE MARKETS THROUGH OCTOBER 2021 Ketchum Market (includes all property types) Sales
Sold $ Volume
New Listings
Median List Price
October
19 (-14%)
$26M (+9%)
11 (+22%)
$929,000 (+56%)
2021 YTD
149 (+2%)
$220M (+8%)
151 (-37%)
$998,000 (-20%)
Sales
Sold $ Volume
New Listings
Median List Price
October
6 (-46%)
$5.9M (-71%)
5 (-29%)
$2.4M (+105%)
2021 YTD
72 (-15%)
$88M (-18%)
84 (-21%)
$950,000 (+17%)
Warm Springs Market
Sun Valley Village Market Sales
Sold $ Volume
New Listings
Median List Price
October
7 (-42%)
$14.6M (-14%)
4 (-20%)
$2.0M (+240%)
2021 YTD
64 (-17%)
$117M (-1%)
83 (-8%)
$1.5M (+37%)
Sales
Sold $ Volume
New Listings
Median List Price
October
4 (-85%)
$8.8M (-64%)
4 (-73%)
$648,000 (+1%)
2021 YTD
107 (-9%)
$110M (+18%)
131 (-10%)
$799,000 (+27%)
Elkhorn Market
RESORT CORE OBSERVATION •
The Elkhorn market, which had been the strongest Resort Core market for sales for many months, cooled off drastically in October, with only 4 sales. Whether this is an issue of inventory or other reasons is not yet clear.
OTHER MICRO-MARKETS THROUGH OCTOBER 2021 North of Ketchum Market (includes all property types) Sales
Sold $ Volume
New Listings
Median List Price
October
3 (+200%)
$4.5M (+163%)
4 (+33%)
$1.75M (-40%)
2021 YTD
17 (-23%)
$74M (+47%)
25 (-19%)
$1.8M (-10%)
South of Ketchum Market Sales
Sold $ Volume
New Listings
Median List Price
October
12 (-57%)
$22M (-55%)
13 (+160%)
$1.7M (+70%)
2021 YTD
109 (-25%)
$160M (-16%)
136 (-37%)
$1.4M (+33%)
Sales
Sold $ Volume
New Listings
Median List Price
October
29 (-24%)
$21M (+30%)
26 (-13%)
$735,000 (+81%)
2021 YTD
297 (+47%)
$165M (+77%)
314 (-12%)
$550,000 (+45%)
Hailey Market
Bellevue & Beyond Market (Carey, Magic, Gannett, Picabo) Sales
Sold $ Volume
New Listings
Median List Price
October
9 (-50%)
$8.9M (+11%)
12 (-46%)
$642,000 (+483%)
2021 YTD
187 (+97%)
$78M (+86%)
216 (+8%)
$490,000 (+43%)
Custer County (Stanley, Challis, Mackay, Sawtooth City) Sales
Sold $ Volume
New Listings
Median List Price
October
2 (-50%)
$575,000 (-80%)
0 (-1000%)
$0 (-100%)
2021 YTD
21 (-34%)
$20M (+6%)
36 (+33%)
$585,000 (+56%)
MICRO-MARKET OBSERVATIONS • South of Ketchum continues to lag behind 2020 more significantly than other micro-markets, though the jump in new listings (13 in October) is an encouraging sign.
• $165M in sold dollar volume in Hailey is the second-highest micro-market number in the whole valley, trailing only Ketchum. This figure begins to tell the tale of Hailey in 2021.
Current Available Inventory (Not Under Contract) Number
Listing $ Volume
Median List Price
Residential Listings $2.5M and higher
50
$311M
$4.35M
Residential Listings $1M to $2.499M
29
$45M
$1.5M
Residential Listings $999,999 and below
53
$34M
$598,000
Vacant Land
133
$161M
$395,000
Pending Activity in October
(Compared to pending activity in October 2020) Number
Pending $ Volume
Median List Price
Residential Homes
36 (-23%)
$57M (-19%)
$1.0M (+25%)
Condos/Townhomes
24 (-47%)
$27M (-25%)
$783,000 (+51%)
Vacant Land
23 (-59%)
$17M (-22%)
$410,000 (+77%)
Highest Residential Sale in October (List Price).........$6,300,000 Highest Vacant Land Sale in October (List Price).....$2,450,000
Selected Listings from Our Brokerage’s Inventory
17 Quigley Dr, Hailey
120 Foxglove, Hulen Meadows
Buster Back Ranch, Sawtooths
13404 Hwy 75, N of Ketchum
301 Greenfield Way, Carey
231 Hillside Dr, Warm Springs
431N Walnut, Ketchum
41 Cooper Dr, Bellevue
1337 Creekside, Sun Valley
16 Rodeo Dr, Hailey
123 Pioneer View Dr, Hailey
Cottonwood 1453, Sun Valley
Information is deemed to be reliable but is not guaranteed. All figures sourced from the Sun Valley MLS November 1, 2021. © 2021 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.
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