Real Estate Market Update | Sun Valley, Idaho April 2022

SUN VALLEY April 2022 Real Estate Market Report

SUN VALLEY MLS THROUGH APRIL 2022 Entire Market—All Properties in Blaine & Custer Counties Sales

Sold $ Volume

New Listings

Median List Price

April

78 (-45%)*

$74M (-35%)

80 (-29%)

$895K (+77%)

2022 YTD

291 (-34%)**

$352M (-11%)

328 (-22%)

$825K (+12%)

* % Change figures are compared to April 2021 ** % Change figures are compared to the same point in 2021

Residential Homes Sales

Sold $ Volume

New Listings

Median List Price

April

19 (-42%)

$20M (-62%)

24 (-35%)

$1.1M (+54%)

2022 YTD

89 (-14%)

$146M (-17%)

99 (-28%)

$825K (-17%)

Condos/Townhomes/Duplexes Sales

Sold $ Volume

New Listings

Median List Price

April

24 (-17%)

$26M (+13%)

27 (-23%)

$995K (+105%)

2022 YTD

88 (-11%)

$103M (+9%)

104 (-10%)

$1.1M (+61%)

SUN VALLEY MLS THROUGH APRIL 2022 Vacant Land Sales

Sold $ Volume

New Listings

Median List Price

April

20 (-69%)

$10.5M (-35%)

18 (-38%)

$647K (+124%)

2022 YTD

67 (-66%)

$40M (-42%)

84 (-31%)

$442K (+12%)

Commercial (Does not include commercial leases) Sales

Sold $ Volume

New Listings

Median List Price

April

6 (-14%)

$8.3M (+110%)

4 (0%)

$568K (-48%)

2022 YTD

20 (+33%)

$20M (+93%)

16 (-27%)

$995K (0%)

Luxury Residential ($2.5M+ Sale/List Price Homes, Condos & TH) Sales

Sold $ Volume

New Listings

Median List Price

April

1 (-83%)

$3.6M (-86%)

5 (0%)

$3.9M (-14%)

2022 YTD

17 (-32%)

$97M (-76%)

49 (+29%)

$5.8M (+44%)

TWO THINGS TO KNOW ABOUT THE SUN VALLEY MARKET RIGHT NOW • Historically, the busiest months for new listings coming onto the market are May, June, and July. It is everyone’s hope that 2022 holds true to historical averages, and that inventory levels rise to satisfy the needs of buyers in Sun Valley.

• Median (and average) list prices are well up in most markets and for most property types. This is a nation-wide trend, and most experts predict that this will continue through the summer. Experts also suggest that these record-high list prices are not part of a bubble, since the values are not being manipulated by risky mortgages (as was the case in the late 2000s).

RESORT CORE MARKETS THROUGH APRIL 2022 Ketchum Market (includes all property types) Sales

Sold $ Volume

New Listings

Median List Price

April

10 (-44%)

$14.3M (-47%)

15 (+25%)

$1.1M (+58%)

2022 YTD

45 (-25%)

$97M (-9%)

43 (-2%)

$1.2M (-6%)

Sales

Sold $ Volume

New Listings

Median List Price

April

7 (+75%)

$8.1M (+261%)

5 (-44%)

$995K (+134%)

2022 YTD

18 (-22%)

$18.8M (-12%)

16 (-43%)

$1M (+7%)

Warm Springs Market

Sun Valley Village Market Sales

Sold $ Volume

New Listings

Median List Price

April

1 (-86%)

$1.4M (-81%)

3 (-40%)

$1.1M (-33%)

2022 YTD

12 (-54%)

$29M (-43%)

28 (+17%)

$5.9M (+293%)

Sales

Sold $ Volume

New Listings

Median List Price

April

10 (-23%)

$15M (+1%)

6 (-40%)

$1.8M (+98%)

2022 YTD

33 (-8%)

$45M (+31%)

44 (+10%)

$1.65M (+107%)

Elkhorn Market

RESORT CORE OBSERVATION •

Of all the areas in the valley, the Resort Core is most looking forward to the spring/summer listing season. While Ketchum saw a slight uptick in new listings vs April 2021, the other three Resort Core markets were all down significantly vs 2021.

OTHER MARKETS THROUGH APRIL 2022 North of Ketchum Market (includes all property types) Sales

Sold $ Volume

New Listings

Median List Price

April

1 (+100%)

$650K (+100%)

1 (+100%)

$16.9M (+100%)

2022 YTD

4 (0%)

$25M (-17%)

2 (-60%)

$8.8M (+309%)

South of Ketchum Market Sales

Sold $ Volume

New Listings

Median List Price

April

3 (-81%)

$4.3M (-79%)

6 (-14%)

$687K (-1%)

2022 YTD

21 (-61%)

$33M (-45%)

28 (-36%)

$1M (-29%)

Sales

Sold $ Volume

New Listings

Median List Price

April

29 (+26%)

$19M (+19%)

24 (-33%)

$532K (+26%)

2022 YTD

91 (-15%)

$64M (+35%)

88 (-25%)

$495K (-16%)

Hailey Market

Bellevue & Beyond Market (Carey, Magic, Gannett, Picabo) Sales

Sold $ Volume

New Listings

Median List Price

April

14 (-70%)

$9.5M (-32%)

10 (-44%)

$644K (+50%)

2022 YTD

43 (-55%)

$25M (-27%)

48 (-37%)

$450K (-9%)

Custer County (Stanley, Challis, Mackay, Sawtooth City) Sales

Sold $ Volume

New Listings

Median List Price

April

0 (-100%)

$0 (-100%)

5 (+150%)

$500K (+190%)

2022 YTD

5 (-44%)

$2.5M (-75%)

7 (+40%)

$975K (+105%)

MARKET OBSERVATIONS • North of Ketchum and South of Ketchum have been quiet thus far in 2022. Some of the valley’s largest and most expensive properties are in these two areas.

• Hailey continues to be just about the only market to pace ahead of 2021. While listings are down, sold dollar volume is well up.

Available Inventory as of May 1 (Not Under Contract) Number

Listing $ Volume

Median List Price

Residential Listings $2.5M and higher

50

$375M

$6.8M

Residential Listings $1M to $2.499M

15

$22M

$1.4M

Residential Listings $999,999 and below

26

$15M

$477,000

Vacant Land

84

$129M

$675,000

Highest Priced Sales in April (List Prices Shown) North of Ketchum Residential Sale.........$650,000 Vacant Land.............N/A Resort Core (Ketchum, Warm Springs, Sun Valley and Elkhorn) Residential Sale.........$3,600,000 Vacant Land Sale.....$2,495,000 South of Ketchum Residential Sale.........$1,775,000 Vacant Land Sale.....$925,000 South Valley (Hailey, Bellevue and Beyond) Residential Sale.........$2,195,000 Vacant Land Sale.....$750,000

Selected Listings from Our Brokerage’s Inventory

105 Camas, Gimlet $19,750,000

30 Lone Pine Rd, Valley Club $895,000

Buster Back Ranch, Sawtooths $11,995,000

265 S Golden Eagle $10,564,000

13404 Hwy 75, N of Ketchum $2,395,000

151 S Main St #409, Ketchum $6,700,000

View All Area Properties

201 Nez Perce, Indian Creek $675,000

460 N Main St, Ketchum Starting at $6,193,000

106 N Hiawatha, Hailey $1,100,000

1228 Villager, Sun Valley $1,075,000

231 Hillside, Warm Springs $1,250,000

MAY CALENDAR OF SUN VALLEY EVENTS 1 1 Thur’s 6 7 7 11 13 14 21 21 24 25 28

Cinderella | WRHS Theater (H) Sweeny Todd (final night!) | The Spot (K) SV Culinary Inst. Tours | SV Culinary (K) Boise Blues Society Music | Barrio 75 (K) WRV Daffodil Festival | Sawtooth Botanical Ctr ERC Spring Clean Up of the WRV | Valley-wide Ride to Work/School | Valley-wide Zlata Chochieva (piano) | The Argyros (K) Mushrooms in the Field | Howard Preserve (B) Ketchum Wide Open | Various WR Orchestra Spring Concert | WRSH Theater (H) Visit Sun Valley Community Meeting | ComLib (K) Craig Johnson (author) | ComLib (K) Redfish Lake Lodge Run | Redfish Lake

208.726.3411 | info@bhhssunvalley.com | www.bhhssunvalley.com Information is deemed to be reliable but is not guaranteed. All figures sourced from the Sun Valley MLS May 1, 2022.

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