2014 YEAR IN REVIEW
Sun Valley, Idaho
A 15-YEAR HISTORY OF THE SUN VALLEY REAL ESTATE MARKET The graph below tells the recent story of the Sun Valley real estate boom, bust, and recovery. Fifteen years ago, in the year 2000, the total real estate volume sold in the area was $449M. The next five years, you may recall, were incredibly, perhaps unsustainably, robust, and in 2005, the volume peaked to $926M. Inevitably, as the recession took over (and fires scorched central Idaho), the volume dropped, reaching a low of $208M in 2009. Since that bottoming out, the local real estate market has climbed steadily, and the volume sold in 2014 represents an increase of 40% over 2013, and more than double what was sold in 2009. In fact, the volume sold in 2014 is the highest since 2007. 2014's numbers demonstrate sellers and buyers are conducting transactions with intelligent caution, a wise approach given the volatility in the market over the last few years. The slow growth means prices are not over-inflated, and suggests that the recovery is healthy and "real".
2014 SUN VALLEY MARKET OVERVIEW Number of Sales Avg. Days on Market Total Sold Volume Average Sold Price Median Sold Price Median List Price
672 (656 in 2013) 210 (253) $415,941,772 ($303m) $618,960 ($446k) $302,000 ($277k) $399,000 ($298k)
Units Sold, Average vs. Median Sold Prices $800k
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Units Sold Average Sales Price Median Sales Price
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2009 296 $651,736 $350,000
2010 2011 388 482 $714, 319 $495,050 $377,750 $255,000
2012 703 $503,343 $225,000
2013 2014 656 672 $446,830 $618,960 $277,700 $302,000
Statistics provided by the Sun Valley Board of Realtors comparing units sold, average and median sales prices from 2009 to 2014
THE MARKET IN SUN VALLEY # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 33 306 $30,530,000 $925,160 $560,000
2013 32 359 $29,528,500 $922,765 $655,000
2014 40 199 $36,279,500 $906,988 $605,000
SVSIR had 9 Sun Valley sales in 2014 for $12,453,500, 34% of the market volume.
THE MARKET IN ELKHORN # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 77 346 $39,191,000 $508,974 $430,000
2013 64 305 $28,114,850 $439,294 $338,000
2014 51 176 $39,522,210 $774,945 $535,000
9 Elkhorn sales in 2014 for $7,484,750, 19% of the market volume.
THE MARKET NORTH OF KETCHUM # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 15 339 $35,874,125 $2,391,608 $931,125
2013 10 477 $6,805,000 $680,500 $517,500
2014 18 181 $18,955,875 $1,053,104 $780,000
5 North of Ketchum sales in 2014 for $6,301,500, 33% of the market volume.
THE MARKET IN KETCHUM # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 127 284 $90,108,650 $709,516 $310,000
2013 143 258 $90,887,526 $635,577 $410,000
2014 130 278 $123,702,359 $951,556 $500,000
25 Ketchum sales in 2014 for $14,289,100, 11.5% of the market volume.
THE MARKET IN WARM SPRINGS # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 48 362 $19,334,049 $402,792 $261,450
2013 40 274 $27,164,977 $679,124 $545,500
2014 47 270 $24,223,050 $515,384 $349,000
9 Warm Springs sales in 2014 for $4,667,000, 19% of the market volume.
THE MARKET IN MID-VALLEY # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 57 263 $50,597,876 $887,682 $675,000
2013 58 336 $40,915,100 $705,432 $478,375
2014 69 246 $80,261,373 $1,163,208 $725,000
14 Mid-Valley sales in 2014 for $13,727,823, 17% of the market volume.
THE MARKET IN HAILEY # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 259 192 $58,255,778 $224,925 $154,900
2013 214 178 $46,247,614 $216,110 $178,000
2014 189 159 $44,891,244 $237,520 $200,000
27 Hailey sales in 2014 for $6,619,000, 15% of the market volume.
THE MARKET IN BELLEVUE AND BEYOND # of Sales Days on Market Total Sold Volume Average Sold Price Median Sold Price
2012 86 203 $25,458,551 $296,029 $147,950
2013 98 261 $23,379,681 $238,568 $167,000
2014 54 179 $21,260,650 $393,716 $165,000
7 Bellevue and Beyond sales in 2014 for $1,871,400, 9% of the market volume.
SVSIR MARKET SHARE AND OTHER FIGURES 222.5 total sides, 15.6% of overall local market $166,564,423 in volume, 20.05% of overall local market $748,604 average sale ($582,570 average overall) 24% of the sales for over $1,000,000 were made by SVSIR Absorption rate was 17,9%, up 41% from 2013 Median sale price was $372,000, up 24% from 2013 20.05
11.72 9.54 9.29
SVSIR
Competitor 1
Competitor 2
Competitor 3
Percent of volume sold. *Information is deemed to be reliable, but is not guaranteed. Provided by Sun Valley Board of Realtors. 1/1/2013 - 12/31/2013
As the top selling brokerage in Sun Valley we have singular insight into today’s local real estate market. With our 33 experienced agents and the power of the world-renowned Sotheby’s International Realty brand behind us, we help buyers find the property of their dreams, and sellers connect with the right buyers.
SIGNIFICANT SALES IN 2014
Bellevue “I really loved this house--built so solidly, in such a gorgeous location. Being able to sell this house in the South Valley was a great experience.” --SVSIR Agent
Mid-Valley “Working with buyers who had come to town to bid on a specific home, another agent knew that I had a listing with very similar features. He drove them by on the way to the airport, they walked around the outside and returned home and made an offer. They are now the new owners of this gorgeous home.” --SVSIR Agent
Elkhorn “We had a couple of great Elkhorn sales in January, properties that people said would be difficult to sell. It was wonderful to be involved with these high-end sales!” --SVSIR Agent
Mid-Valley “This is one of the most picturesque ranches in Blaine County. The clients were great to work with and were pleased with our performance.” --SVSIR Agent
Stanley “Bill Harrah loved Stanley, and it was wonderful to help carry on his legacy and love for the area. Knowing Stanley will be revitalized gives me a great deal of satisfaction.” --SVSIR Agent
IMAGINE A LIFE MORE ELEVATED
© 2013 Sun Valley Sotheby’s International Realty. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Each Office is Independently Owned and Operated. Disclaimer: Information contained herein has been obtained from sources deemed reliable but cannot be guaranteed. Viewers are encouraged to perform independent due diligence before relying on any content. Opinions expressed are not necessarily that of the franchisee or franchisor. Sellers reserve the right to change their product offering without notice. All statistics provided by the Sun Valley Board of Realtors and include only Residential, Condo/Townhouse, Vacant Land, Commercial for Sale and Farm/Ranch. All statistics provided by the Sun Valley Board of Realtors. 1/1/2014 - 12/31/2014