2017 YEAR IN REVIEW
Sun Valley, Idaho and the Surrounding Areas
Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office IsIndependently Owned And Operated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers.We are happy to work with them and cooperate fully Disclaimer Information contained herein has been obtained from sources deemed reliable but cannot be guaranteed. Viewers are encouraged to perfrom independent due diligence before relying on any content. Opinions expressed are not necessarily that of the franchise or franchisor. Sellers reserve the right to change their product offering without notice. All statistics provided by the Sun Valley Board of Realtors. All statistics provided by the Sun Valley Board of Realtors 1/1/2017 - 12/31/2017
ENTIRE MLS
2016
2017
Percent + or -
Number of Sales
778
950
+ 22.11%
Total Sold Volume
$431,214,311
$654,719,690
+ 51.83%
Average Sold Price
$516,339
$652,893
+ 26.45%
Median Sold Price
$292,000
$340,000
+ 16.44%
Median List Price
$299,250
$349,250
+ 16.71%
The Multiple Listing Service (MLS) for the Wood River Valley and Stanley divides this valley into different “areas”. Those areas are Sun Valley, Elkhorn, Ketchum, Warm Springs, North of Ketchum, South of Ketchum, Hailey, Bellevue, and Stanley. The entire MLS had continued growth across all sectors of the Wood River Valley’s real estate market in 2017. The information in the chart above reflects a continued, Strong growth cycle that shows significant increases our 2016’s numbers, which were an improvement over 2015. The health of the real estate market is a positive indicator for all sectors of the economy, and there is a level of activity in certain segments of the market that has not been seen since 2005. Despite the significant improvement in the real estate market, it is possible that there is still upside potential and value since real estate is still selling below the peak values of 2007 and 2008 while other comparable mountain resort areas have achieved or exceeded their 2007 - 2008 valuations. Yes, Ketchum/Sun Valley is a value compared to other comparable resort areas!
SUN VALLEY
2016
2017
Percent + or -
Number of Sales
45
62
+ 37.78%
Total Sold Volume
$41,423,000
$70,700,895
+ 70.68%
Average Sold Price
$920,511
$1,089,223
+ 18.33%
Median Sold Price
$599,000
$737,500
+ 23.12%
Median List Price
$579,000
$762,250
+ 31.65%
The area of Sun Valley is anchored by Sun Valley Lodge, and includes the surrounding condominiums, townhouses, land, and homes that are in close proximity to the lodge and golf courses. Sun Valley area had an almost 38% increase in the number of sales which translates to a total dollar volume increase of almost 71%.
ELKHORN
2016
2017
Percent + or -
Number of Sales
78
95
+ 21.79%
Total Sold Volume
$43,001,299
$64,005,199
+ 48.84%
Average Sold Price
$536,370
$636,169
+ 18.54%
Median Sold Price
$422,500
$417,100
- 1.28%
Median List Price
$416,450
$459,000
+ 10.22%
The area of Elkhorn, which is part of the City of Sun Valley, is an expansive area that encompasses everything from Elkhorn Village all the way to Lane Ranch and reaches east to beautiful foothills that lend themselves to all day sun and fantastic, sweeping views. The Elkhorn area saw an almost 22% increase in the number of sales which translates to a total dollar volume increase of almost 49%.
WARM SPRINGS
2016
2017
Percent + or -
Number of Sales
42
70
+ 66.67%
Total Sold Volume
$37,017,650
$50,599,599
+ 36.69%
Average Sold Price
$791,027
$697,397
- 11.84%
Median Sold Price
$453,750
$600,000
+ 32.23%
Median List Price
$480,000
$612,000
+ 27.5%
The Warm Springs area encompasses everything from the YMCA and Rotary Park, past the Warm Springs base area, out to Board Ranch. Warm Springs is made up of a mixture of quaint neighborhoods and small condominium complexes, and it is the only place with close proximity to the downtown core that you can get views of the Warm Springs side of Bald Mountain. The Warm Springs area saw an almost 67% increase in the number of sales which translates to a total dollar volume increase of almost 37%.
KETCHUM
2016
2017
Percent + or -
Number of Sales
131
171
+ 30.53%
Total Sold Volume
$97,117,141
$205,152,193
+ 111.24%
Average Sold Price
$694,466
$1,124,313
+ 61.9%
Median Sold Price
$456,000
$625,000
+ 37.06%
Median List Price
$475,000
$675,000
+ 42.11%
If Sun Valley is the brain of the ski area, Ketchum is its heart. Located at the base of Bald Mountain and next to the River Run base area, it is where the action is with a broad selection of restaurants, retail and professional businesses. The Ketchum area saw an almost 31% increase in the number of sales which translates to a total dollar volume increase of almost 112%.
NORTH OF KETCHUM
2016
2017
Percent + or -
Number of Sales
14
14
0%
Total Sold Volume
$27,542,900
$32,128,000
+ 16.65%
Average Sold Price
$1,874,951
$2,056,071
+ 9.66%
Median Sold Price
$1,192,825
$1,407,500
+ 18%
Median List Price
$1,312,500
$1,595,000
+ 21.52%
North of Ketchum is where people go when they want “more� - more space in the form of larger lots, more snow, more altitude, more quiet, and more views. As the Wood River Valley narrows and the elevation increase you end up with opportunities for dramatic views in all directions. North of Ketchum encompasses Hulen Meadows, Lake Creek, stretches to the southern boundary of the Sawtooth National Recreation Area. North of Ketchum saw no increase in the number of sales however, the total dollar volume increased by almost 17%.
SOUTH OF KETCHUM
2016
2017
Percent + or -
Number of Sales
6
11
+ 83.33%
Total Sold Volume
$8,535,440
$15,789,000
+ 84.98%
Average Sold Price
$1,311,366
$1,334,181
+ 1.74%
Median Sold Price
$667,500
$1,075,000
+ 61.05%
Median List Price
$699,250
$1,250,000
+ 78.76%
South of Ketchum, is largely comprised of residential subdivisions and neighborhoods starting at Gimlet and rolling south and down to neighborhoods just north of Hailey. It includes neighborhoods like East Fork, Golden Eagle, The Heatherlands, The Valley Club, Zinc Spur, Starweather, Indian Creek, and others. With the decrease in elevation there is typically less snow, longer growing seasons, and often times more “bang for the buck� when considering a lot and home size. The advantage of being in between Ketchum/Sun Valley and Hailey/Bellevue - is you have more choices. South of Ketchum had an almost 84% increase in the number of sales which translates to a total dollar volume increase of almost 85%.
HAILEY
2016
2017
Percent + or -
Number of Sales
247
276
+ 11.74%
Total Sold Volume
$79,278,736
$87,560,268
+ 10.45%
Average Sold Price
$295,230
$306,868
+ 3.94%
Median Sold Price
$235,000
$268,250
+ 14.15%
Median List Price
$240,000
$278,000
+ 15.83%
Hailey is not just the bedroom community for Ketchum/Sun Valley, it is its own charming community. Replete with every kind of business - retailers, grocery stores, auto dealerships, hardware stores, and more, Hailey is home to our airport offering commercial and private air service, several schools as well as a satellite campus for the College of Southern Idaho. Every year-round recreational opportunity that you can imagine makes Hailey a haven for many families. There have been many new homes developed in Hailey along with infrastructure. Hailey had an almost 12% increase in the number of sales which translates to a total dollar volume increase of almost 11%.
BELLEVUE
2016
2017
Percent + or -
Number of Sales
53
59
+ 11.32%
Total Sold Volume
$19,007,500
$18,448,388
- 2.94%
Average Sold Price
$332,030
$300,514
- 9.49%
Median Sold Price
$233,500
$279,000
+ 19.49%
Median List Price
$249,000
$279,000
+ 12.05%
Known as the gateway to the Wood River Valley, Bellevue serves as a bedroom community for the Ketchum/Sun Valley area as well as its own community offering many types of businesses and services on a smaller scale. Besides residential and commercial properties, there are the expanding opportunities of agricultural offerings like ranches and farms. The Bellevue area had an almost 12% increase in the number of sales which translated to the only dollar volume decrease of almost 3%, which is indicative of the more opportunistic purchasing of affordable properties.
STANLEY
2016
2017
Percent + or -
Number of Sales
8
11
+ 37.5%
Total Sold Volume
$2,672,000
$4,772,500
+ 78.61%
Average Sold Price
$294,625
$386,904
+ 31.32%
Median Sold Price
$285,000
$275,000
- 3.51%
Median List Price
$327,000
$285,000
- 12.84%
Stanley encompasses the high mountain river valley known as the Sawtooth Basin and includes the Smiley Creek area, the eclectic little mountain town of Stanley, and the surrounding areas. Offering year-round recreational opportunities and surrounded by high mountain lakes, Stanley is at its best during the summer when it offers visitors and residents easy access to natural hot springs, spectacular hiking, biking, fishing, boating and more. In the winter Stanley becomes a winter wonderland offering world class snowmobiling, backcountry skiing, snowshoeing, winter fly fishing on the Salmon River, winter kayaking and more. The Stanley had an almost 38% increase in the number of sales which translates to a total dollar volume increase of almost 79%.
291 N Main Street | Ketchum, ID 83340 | p 208.726.5300 f 208.726.4311 | sunvalleysir.com Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Each Office Is Independently Owned And Operated. An Equal Opportunity Company. Equal Housing Opportunity.