2015
YEAR IN REVIEW
Sun Valley market insights, statistics, and selected sales.
1 powerful brand, 34 professional agents.
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SUN VALLEY SOTHEBY’S INTERNATIONAL REALTY
2015 SUN VALLEY ENTIRE MARKET OVERVIEW 2012 738 $356,000,000 $482,000 $207,250 $225,000
Number of Sales Total Sold Volume Avg Sold Price Median Sold Price Median List Price
2013 716 $299,000,000 $418,000 $257,000 $269,000
2014 669 $415,000,000 $621,000 $302,000 $319,000
2015 739 $425,000,000 $575,000 $313,000 $330,000
+9% over 2014 +2% -6.4% +3.6% +6.8%
2015 SUN VALLEY SOTHEBY’S INTERNATIONAL REALTY 2012 220 $128,000,000 $580,000 $335,500 $350,000
Number of Sales Total Sold Volume Avg Sold Price Median Sold Price Median List Price
2013 201 $102,000,000 $509,000 $337,000 $365,000
2014 183 $137,000,000 $746,000 $440,000 $475,000
2015 219 $162,000,000 $740,000 $440,000 $469,000
+16% over 2014 +15% -1% NC -1%
SUN VALLEY SOTHEBY’S INTERNATIONAL REALTY 2015 MARKET SHARE 22.9%
22.9% of overall local market volume
12.9%
12.2%
7.6%
SVSIR
Competitor 1
Competitor 2
Competitor 3
Percent of volume sold. Cover page home in North of Ketchum, listed at $4.25m at time of sale. All properties herein were listed by Sun Valley Sotheby’s International Realty. Prices are the list price at time of sale. All figures taken from the Sun Valley Board of Realtors MLS. The Sun Valley Board of Realtors or Sun Valley Sotheby’s International Realty make no guarantees or is in any way responsible for the accuracy of the data contained herein. 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.
A 16-YEAR HISTORY OF SUN VALLEY-AREA REAL ESTATE Since the Recession, the Sun Valley real estate market has shown slow but steady growth. The lower production in 2013 was a result of two significant fires that brought much of Sun Valley and central Idaho to a standstill. The volume sold in 2015 is more than twice what was sold in 2009, and after three successive years of growth, we are expecting to see that trend continue in 2016. $900
Sun Valley-area Real Estate Volume Sold 2000-2015 (in millions of dollars) All numbers taken from Sun Valley MLS. Graph not to scale.
$757.9
$750m
$605.8 $573.1 $565
$500m
$454.2
$449.9
$415.3
$425.1
$355.8
$354.2 $307.1
$299.4
$288
$250m
$246.3 $204.3
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
The original destination ski resort, Sun Valley shows no signs of resting on its laurels. We have nonstop air service from Los Angeles, San Francisco, Seattle, Salt Lake City, and Denver, and two new boutique hotels with luxury top-floor residences are scheduled to be completed over the next two years. The Sun Valley Ski Resort continues to earn top-tier rankings, and the festivals and events increase in number and size every year. When you combine the uncrowded slopes, sophisticated yet down-to-earth cultural life, proximity to unlimited outdoor recreation, and ease of access, it becomes clear that
Sun Valley is the place to be.
NORTH OF KETCHUM Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 15 $35,874,125 $2,391,608 $931,125
2013 10 $6,805,000 $680,500 $517,500
2014 18 $18,955,875 $1,053,104 $780,000
2015 27 $40,438,750 $1,497,731 $905,000
Sun Valley Sotheby’s International Realty (SVSIR) was involved in 33% of the North of Ketchum sales in 2015 for $16,400,000.
NORTH OF KETCHUM SALES IN 2015
Listed at $2.775m
Listed at $2.25m
KETCHUM Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 127 $90,108,650 $709,516 $310,000
2013 143 $90,887,526 $635,577 $410,000
2014 130 $123,702,359 $951,556 $500,000
2015 121 $92,379,816 $763,469 $510,000
SVSIR was involved in 39% of the Ketchum sales in 2015 for $38,099,000.
KETCHUM SALES IN 2015
Listed at $3.395m
Listed at $1.965m
Listed at $1.849m
Listed at $1.45m
WARM SPRINGS Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 48 $19,334,049 $402,792 $261,450
2013 40 $27,164,977 $679,124 $545,500
2014 47 $24,223,050 $515,384 $349,000
2015 53 $29,294,170 $552,720 $435,000
SVSIR was involved in 34% of the Warm Springs sales in 2015 for $11,405,000.
WARM SPRINGS SALES IN 2015
Listed at $1.199m
Listed at $1.099m
Listed at $975k
Listed at $559k
SUN VALLEY Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 33 $30,530,000 $925,160 $560,000
2013 32 $29,528,500 $922,765 $655,000
2014 40 $36,279,500 $906,988 $605,000
2015 37 $40,445,885 $1,093,132 $750,000
SVSIR was involved in 57% of the Sun Valley sales in 2015 for $30,119,000.
SUN VALLEY SALES IN 2015
Listed at $2.75m
Listed at $2.495m
Listed at $2.29m
Listed at $1.565m
ELKHORN Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 77 $39,191,000 $508,974 $430,000
2013 64 $28,114,850 $439,294 $338,000
2014 51 $39,522,210 $774,945 $535,000
2015 87 $53,971,471 $620,361 $363,000
SVSIR was involved in 44% of the Elkhorn sales in 2015 for $24,712,000.
ELKHORN SALES IN 2015
Listed at $2.695m
Listed at $1.795m
Listed at $1.495m
Listed at $1.049m
MID-VALLEY Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 57 $50,597,876 $887,682 $675,000
2013 58 $40,915,100 $705,432 $478,375
2014 69 $80,261,373 $1,163,208 $725,000
2015 57 $56,631,249 $993,530 $675,000
SVSIR was involved in 39% of the Mid-Valley sales in 2015 for $21,212,000.
MID-VALLEY SALES IN 2015
Sold at Auction
Listed at $1.725m
Listed at $1.685m
Listed at $1.545m
HAILEY Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 259 $58,255,778 $224,925 $154,900
2013 214 $46,247,614 $216,110 $178,000
2014 189 $44,891,244 $237,520 $200,000
2015 214 $61,800,413 $288,786 $236,000
SVSIR was involved in 22% of the Hailey sales in 2015 for $14,282,000.
HAILEY SALES IN 2015
Listed at $769k
Listed at $575k
Listed at $549k
Listed at $378k
BELLEVUE AND BEYOND Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 86 $25,458,551 $296,029 $147,950
2013 98 $23,379,681 $238,568 $167,000
2014 54 $21,260,650 $393,716 $165,000
2015 64 $15,869,416 $247,959 $207,000
SVSIR was involved in 11% of the Bellevue-area sales in 2015 for $1,419,000.
BELLEVUE+ SALES IN 2015
Listed at $349k
Listed at $299.5k
STANLEY AND BEYOND Number of Sales Total Sold Volume Average Sold Price Median Sold Price
2012 3 $249,500 $83,166 $112,500
2013 9 $2,224,000 $247,111 $240,000
2014 12 $10,222,500 $851,875 $147,000
2015 12 $5,187,664 $432,305 $330,500
SVSIR was involved in 25% of the Stanley-area sales in 2015 for $2,842,000.
STANLEY+ SALES IN 2015
Listed at $2.5m
OTHER NUMBERS OF NOTE • • • •
OVERALL MARKET
The highest sale price in 2015 was $11,750,000. 95 sales (13%) in 2015 were for above $1,000,000. Single family residences accounted for 61% of sold volume. Condominiums and townhomes accounted for 27% of sold volume. Townhome sales were strong valley-wide, with 72 sales, up from 48 (+50%). Volume increased 69%. • Vacant land accounted for 6% of sold volume. • Commercial properties accounted for 5% of sold volume.
AREA-SPECIFIC HIGHLIGHTS
• 21 Single family residences North of Ketchum sold, up from 12 in 2014 (+75%). Volume increased 176%. • 64 Condos and townhomes in Elkhorn sold, up from 36 (+77%). • 126 Single family residences in Hailey sold, up from 89 (+41%). • 16 Single family residences in South Blaine County sold, up from 4 (+300%).
TOURIST AND RESORT INFO
• Sun Valley named #2 Ski Resort by readers of Ski Magazine. • As of Feb 1, 150” of snow has fallen. • 183,000 people visited Blaine County in Winter 2014-15 (Nov 1-April 30), up 14% over previous winter. • 218,000 people visited in Summer (May 1-Oct 31), up 27%. • In July, hotels sold a record 37,054 room nights, a 14% increase over 2014’s number. • Enplanements increased 2.6% in 2015; deplanements increased 3.1%. Sun Valley’s airport has non-stop service from SEA, SFO, LAX, SLC, and Denver.
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