SUN VALLEY LUXURY REAL ESTATE REPORT 2018 to 2023
LUXURY REAL ESTATE IN SUN VALLEY This report includes only Residential Properties (Single Family Homes, Condos, Townhomes). We are using two different List Prices thresholds for a property to qualify as a Luxury Residential Listing: • $3.5M is the Luxury baseline for the North Valley, Resort Core (Ketchum, Warm Springs, Sun Valley, Elkhorn) and South of Ketchum • $1.5M is the Luxury baseline for Hailey, Bellevue and beyond • $1.5M is the Luxury baseline for the Sawtooth Valley, the sparsely-populated area north of the valley (but in our MLS market)
As you read through this report, keep in mind: • Prices in the South Valley are historically much lower than prices in the Resort Core and other points north, which is why we are using two distinct price points for properties to qualify as a Luxury Residential Listing. • 2020 and 2021 represent the two biggest years in Sun Valley’s real estate history, and the Sales, Sold Dollar Volume, and Median List and Sales Prices for these two years should be viewed in the proper context. • It is increasingly common in this market for luxury and high-end properties to be sold off-market, without being publicly listed and therefore without being recorded in our MLS. As a result, these sales do not figure into this report. It is estimated that around 10% of luxury sales are transacted in •
this manner.
Idaho is a non-disclosure state, so this report does not use Sold Prices as the baseline (though the sold totals all reflect Sold Prices).
LUXURY REAL ESTATE IN SUN VALLEY 2018 to 2023 OVERALL LUXURY MARKET 2023
2022
2021
2020
2019
2018
Sales
59
32
54
50
15
16
Sold $ Volume
$349M
$207M
$284M
$270M
$74M
$76M
Median Sold Price
$4.7M
$5.7M
$4.3M
$4.7M
$4.3M
$4.8M
Listings
156
135
98
96
67
81
Median List Price
$5.2M
$5.9M
$4.9M
$5.1M
$5.4M
$5.0M
Highest Sale (List)
$16.8M
$19.5M
$16.0M
$20.0M
$14.5M
$7.0M
SINGLE FAMILY HOMES | ENTIRE MARKET 2023
2022
2021
2020
2019
2018
Sales
46
23
44
43
13
15
Sold $ Volume
$295M
$157M
$237M
$241M
$65M
$71M
Median Sold Price
$5.1M
$5.4M
$4.3M
$4.9M
$4.3M
$4.7M
Listings
125
100
78
85
57
67
Median List Price
$5.5M
$5.5M
$4.9M
$5.5M
$5.8M
$5.5M
Highest Sale (List)
$16.8M
$19.5M
$16.0M
$20.0M
$14.5M
$7.495M
CONDOS/TOWNHOMES | ENTIRE MARKET 2023
2022
2021
2020
2019
2018
Sales
13
9
10
7
2
1
Sold $ Volume
$53M
$51M
$47M
$30M
$8.7M
$5.9M
Median Sold Price
$4.1M
$6.5M
$4.5M
$4.1M
$4.4M
$5.9M
Listings
31
35
20
11
10
14
Median List Price
$4.5M
$6.5M
$4.9M
$4.0M
$4.2M
$4.2M
Highest Sale (List)
$5.5M
$7.5M
$6.75M
$5.995M
$4.85M
$5.85M
LUXURY ACTIVITY BY MARKET 2018 to 2023 NORTH OF KETCHUM 2023
2022
2021
2020
2019
2018
Sales
3
4
6
5
0
2
Sold $ Volume
$27M
$46M
$54M
$27M
$0
$10M
Median Sold Price
$7.8M
$11.3M
$9.9M
$4.5M
$0
$5.1M
Listings
14
9
8
7
4
1
Median List Price
$8.7M
$7.2M
$7.0M
$3.8M
$6.1M
$19.5M
Highest Sale (List)
$14.9M
$19.5M
$16.0M
$9.6M
$2.695M
$7.0M
2023
2022
2021
2020
2019
2018
Sales
18
11
16
18
7
3
Sold $ Volume
$112M
$68M
$74M
$106M
$38M
$19M
Median Sold Price
$4.9M
$5.7M
$4.4M
$4.5M
$4.3M
$6.6M
Listings
46
29
31
31
25
42
Median List Price
$5.6M
$6.3M
$4.9M
$4.3M
$4.9M
$5.0M
Highest Sale (List)
$16.8M
$15.0M
$7.25M
$20.0M
$14.5M
$7.495M
2023
2022
2021
2020
2019
2018
Sales
7
2
5
2
0
4
Sold $ Volume
$45M
$10M
$21M
$8.8M
$0
$16M
Median Sold Price
$6.5M
$5.0M
$4.1M
$4.4M
$0
$3.5M
Listings
17
22
3
5
1
3
Median List Price
$4.8M
$5.4M
$4.5M
$4.5M
$5.8M
$3.8M
Highest Sale (List)
$9.2M
$6.795M
$4.75M
$4.85M
$2.685M
$5.895M
KETCHUM
WARM SPRINGS
LUXURY ACTIVITY BY MARKET 2018 to 2023 SUN VALLEY VILLAGE 2023
2022
2021
2020
2019
2018
Sales
10
4
8
6
3
4
Sold $ Volume
$62M
$22M
$32M
$37M
$13M
$19M
Median Sold Price
$4.1M
$5.9M
$3.8M
$5.9M
$4.5M
$4.6M
Listings
19
26
10
13
5
8
Median List Price
$5.0M
$6.8M
$3.9M
$5.9M
$5.4M
$4.8M
Highest Sale (List)
$15.95M
$6.9M
$5.45M
$8.9M
$4.99M
$6,99M
ELKHORN IN SUN VALLEY 2023
2022
2021
2020
2019
2018
Sales
6
7
4
1
2
0
Sold $ Volume
$24M
$43M
$18M
$4.3M
$8.2M
$0
Median Sold Price
$3.8M
$5.4M
$4.0M
$4.3M
$4.1M
$0
Listings
16
20
2
173
2
2
Median List Price
$4.8M
$4.7M
$4.5M
$3.8M
$6.7M
$6.5M
Highest Sale (List)
$5.75M
$11.8M
$4.75M
$4.3M
$4.99M
$3.295M
2023
2022
2021
2020
2019
2018
Sales
13
2
14
16
2
3
Sold $ Volume
$65M
$8.5M
$80M
$81M
$10M
$12M
Median Sold Price
$4.3M
$4.2M
$4.9M
$4.4M
$5.0M
$3.6M
Listings
38
25
27
33
24
25
Median List Price
$6.0M
$6.7M
$5.5M
$4.9M
$5.8M
$5.5M
Highest Sale (List)
$8.885M
$4.995M
$14.995M
$9.998M
$6.25M
$5.895M
SOUTH OF KETCHUM
LUXURY ACTIVITY BY MARKET 2018 to 2023 HAILEY | List Price Baseline is $1.5M 2023
2022
2021
2020
2019
2018
Sales
13
10
10
3
2
2
Sold $ Volume
$25M
$19M
$22M
$6.7M
$3.4M
$4.8M
Median Sold Price
$1.7M
$1.8M
$1.8M
$1.9M
$1.7M
$2.4M
Listings
25
18
25
8
8
7
Median List Price
$1.8M
$1.8M
$1.8M
$2.2M
$2.0M
$2.5M
Highest Sale (List)
$3.25M
$2.795M
$4.8M
$3.58M
$1.799M
$3.195M
BELLEVUE & BEYOND | List Price Baseline is $1.5M 2023
2022
2021
2020
2019
2018
Sales
5
5
9
2
2
1
Sold $ Volume
$10.6M
$18M
$16M
$3.1M
$4.0M
$2.3M
Median Sold Price
$1.8M
$3.4M
$1.6M
$1.6M
$2.0M
$2.3M
Listings
9
6
15
10
9
2
Median List Price
$2.7M
$2.1M
$1.8M
$1.9M
$2.3M
$2.1M
Highest Sale (List)
$3.8M
$5.95M
$2.975M
$1.6M
$2.45M
$2.995M
CUSTER COUNTY | List Price Baseline is $1.5M 2023
2022
2021
2020
2019
2018
Sales
1
1
0
1
0
0
Sold $ Volume
$2.4M
$1.7M
$0
$2.7M
$0
$0
Median Sold Price
$2.4M
$1.7M
$0
$2.7M
$0
$0
Listings
2
7
1
2
0
0
Median List Price
$2.5M
$2.5M
$5.0M
$12.0M
$0
$0
Highest Sale (List)
$2.495M
$1.89M
$825,000
$3.5M
$4.875M
$1.45M
LUXURY ACTIVITY BY MARKET 2018 to 2023 TOTAL LUXURY SALES BY MARKET AREA, 2018 TO 2023 Market
Sales
Sold $ Volume
Avg Sales Price
Link to Each Area’s Luxury Sales
Totals
287
$1.35B
$4.7M
North of Ketchum ($3.5M+)
20
$165M
$8.2M
Area Luxury Sales
Ketchum ($3.5M+)
73
$418M
$5.7M
Area Luxury Sales
Warm Springs ($3.5M+)
20
$100M
$5.0M
Area Luxury Sales
Sun Valley Village ($3.5M+)
35
$185M
$5.3M
Area Luxury Sales
Elkhorn in Sun Valley ($3.5M+)
20
$97M
$4.9M
Area Luxury Sales
South of Ketchum ($3.5M+)
50
$257M
$5.1M
Area Luxury Sales
Hailey ($1.5M+)
40
$81M
$2.0M
Area Luxury Sales
Bellevue & Beyond ($1.5M+)
24
$54M
$2.2M
Area Luxury Sales
Custer County ($1.5M+)
5
$12.4M
$2.5M
Area Luxury Sales
TOTAL LUXURY SALES BY PRICE POINT, 2018 TO 2023 List Price Range
Sales
Sold $ Volume
60
$115M
$3.5M to $5M
131
$327M
$5M to $6M
33
$181M
$6M to $7M
24
$153M
$7M to $8M
10
$68M
$8M to $10M
9
$77M
$10M to $12M
6
$64M
$12M to $15M
6
$82M
$15M and above
7
$110M
$1.5M to $3.5M (South Valley Custer County only)
&
Sales each year since 2018 of $10M+ List Price: 0 in 2018; 1 in 2019; 3 in 2020; 4 in 2021; 4 in 2022; 7 in 2023
© 2024 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.
A better real estate experience.
208.726.3411 | info@bhhssunvalley.com 411 Fifth St E & 121 Sun Valley Rd | Ketchum, Idaho www.bhhssunvalley.com