July Real Estate Market Update | Sun Valley, Idaho

SUN VALLEY REAL ESTATE MARKET REPORT JULY 2021

SUN VALLEY MLS THROUGH JULY 2021 Entire Market—All Properties in Blaine & Custer Counties Sales

Sold $ Volume

New Listings

Median List Price

July

97 (-31%)*

$125M (+1%)

176 (-31%)

$875,000 (+46%)

2021 YTD

772 (+70%)**

$714M (+92%)

902 (-14%)

$695,000 (+21%)

Residential Homes

* % Change figures are compared to July 2020 ** % Change figures are compared to the same point in 2020.

Sales

Sold $ Volume

New Listings

Median List Price

July

40 (-20%)

$73M (+11%)

62 (-30%)

$1.3M (+16%)

2021 YTD

217 (+42%)

$340M (+91%)

311 (-12%)

$1.0M (+8%)

Sales

Sold $ Volume

New Listings

Median List Price

July

36 (-3%)

$42M (+95%)

55 (-23%)

$795,000 (+28%)

2021 YTD

191 (+46%)

$187M (+113%)

247 (-25%)

$625,000 (+25%)

Sales

Sold $ Volume

New Listings

Median List Price

July

16 (-67%)

$6.3M (-79%)

43 (-43%)

$549,000 (+42%)

2021 YTD

295 (+150%)

$106M (+97%)

245 (-9%)

$385,000 (+28%)

Condos/Townhomes

Vacant Land

Commercial (Does not include commercial leases) Sales

Sold $ Volume

New Listings

Median List Price

July

2 (0%)

$1.0M (-55%)

11 (-27%)

$1.35M (+184%)

2021 YTD

27 (+35%)

$20.3M (+51%)

54 (+15%)

$1.15M (+113%)

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

Sold $ Volume

New Listings

Median List Price

July

12 (+33%)

$60M (+83%)

18 (-22%)

$4.0M (+9%)

2021 YTD

52 (+108%)

$227M (+157%)

90 (-16%)

$3.9M (+3%)

AREA MICRO-MARKETS THROUGH JULY 2021 North of Ketchum Market Sales

Sold $ Volume

New Listings

Median List Price

July

3 (-25%)

$15.2M (+91%)

3 (+200%)

$1.6M (+24%)

2021 YTD

11 (-15%)

$56M (+144%)

17 (-15%)

$1.7M (-17%)

Sales

Sold $ Volume

New Listings

Median List Price

July

12 (-43%)

$27M (-5%)

20 (-62%)

$759,000 (-40%)

2021 YTD

92 (+21%)

$146M (+50%)

103 (-44%)

$1.3M (+4%)

Sales

Sold $ Volume

New Listings

Median List Price

July

13 (0%)

$24M (+114%)

11 (-35%)

$1.1M (-13%)

2021 YTD

48 (+37%)

$55M (+80%)

61 (-16%)

$895,000 (+10%)

Ketchum Market

Warm Springs Market

Sun Valley Village Market Sales

Sold $ Volume

New Listings

Median List Price

July

0 (-100%)

$0 (-100%)

13 (-46%)

$1.4M (-49%)

2021 YTD

41 (+17%)

$75M (+45%)

62 (-11%)

$1.5M (+37%)

Sales

Sold $ Volume

New Listings

Median List Price

July

13 (-19%)

$14M (+51%)

25 (-22%)

$875,000 (+53%)

2021 YTD

73 (+59%)

$69M (+107%)

99 (+2%)

$799,000 (+27%)

Elkhorn Market

South of Ketchum Market Sales

Sold $ Volume

New Listings

Median List Price

July

10 (-52%)

$19M (+6%)

19 (-39%)

$1.4M (+123%)

2021 YTD

78 (+39%)

$106M (+83%)

87 (-45%)

$1.4M (+34%)

Hailey Market

Sales

Sold $ Volume

New Listings

Median List Price

July

28 (0%)

$19M (+31%)

37 (-14%)

$779,000 (+102%)

2021 YTD

205 (+116%)

$107M (+152%)

233 (-6%)

$550,000 (+45%)

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

Sold $ Volume

New Listings

Median List Price

July

11 (0%)

$4.6M (+14%)

34 (+17%)

$562,000 (+32%)

2021 YTD

157 (+227%)

$58M (+315%)

149 (+34%)

$435,000 (+28%)

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

Sold $ Volume

New Listings

Median List Price

July

2 (-78%)

$470,000 (-94%)

5 (+25%)

$1.5M (+122%)

2021 YTD

13 (-19%)

$11.3M (-5.4%)

25 (+14%)

$695,000 (+85%)

New Listings in July

Number

New List $ Volume

Median List Price

Residential Homes

62

$126M

$1.34M

Condos/Townhomes

55

$58M

$795,000

Vacant Land

43

$37M

$549,000

Listings Going Under Contract in July Number

Pending $ Volume

Median List Price

Residential Homes

39

$54M

$1.0M

Condos/Townhomes

43

$44M

$650,000

Vacant Land

31

$23M

$449,000

Highest Residential Sale in July (List Price).........$11,995,000 Highest Vacant Land Sale in July (List Price).....$2,500,000

Figures of note in the July Market Report •

•

• •

Recall that it was in June of 2020 that real estate activity started to pick back up after a couple months of virtually no activity. As a result, we are now finally starting to see year-over numbers start to balance out with 2020’s numbers. In 2020, July through December were all record months. It is quite likely that by September, we 2021’s activity will no longer be pacing ahead of 2020’s.

Another 177 New Listings came on to the market in July, the highest number of the year thus far. 117 of these were Residential Listings, so there is certainly a good amount of inventory for buyers to consider. The Average List Price of $1.6M, and the Median List Price of $925,000, indicate that the new inventory is being listed at all-time high prices.

A couple of micro-markets cooled off in July, including Vacant Land, which had only 16 recorded Sales in July. The Village of Sun Valley recorded 0 Sales in July.

Valley-wide, there are roughly 145 Residential properties available (not under contract) as of August 1, 2021. Of these, about 60 are under $1M list price.

Selected Listings from Our Brokerage’s Inventory

16 Rodeo Dr, Hailey

106 Highlands, Elkhorn

100 Lindsay Circle, Ketchum

120 Scott, Carey

221 & 225 Sutton, Gimlet

1453 Cottonwood, Sun Valley

Limelight 409, Ketchum

265 Golden Eagle, S of Ketchum 280 Cottonwood, Ketchum

Information is deemed to be reliable but is not guaranteed. All figures sourced from the Sun Valley MLS August 1, 2021.

SUN VALLEY RELIES ON BERKSHIRE HATHAWAY HOMESERVICES.

208.726.3411 www.bhhssunvalley.com info@bhhssunvalley.com

© 2021 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.