March Real Estate Update | Sun Valley, Idaho

SUN VALLEY March 2022 Real Estate Market Report

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

Sold $ Volume

New Listings

Median List Price

March

79 (-39%)*

$115M (+1%)

100 (-14%)

$797,000 (+54%)

2022 YTD

211 (-31%)**

$277M (-7%)

241 (-21%)

$825,000 (+11%)

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

Residential Homes Sales

Sold $ Volume

New Listings

Median List Price

March

27 (+17%)

$70M (+80%)

34 (-17%)

$1.12M (+21%)

2022 YTD

68 (-7%)

$125M (-6%)

72 (-27%)

$813,000 (-18%)

Condos/Townhomes/Duplexes Sales

Sold $ Volume

New Listings

Median List Price

March

22 (-19%)

$29M (-2%)

32 (-9%)

$935,000 (+67%)

2022 YTD

64 (-11%)

$77M (+4%)

76 (-10%)

$1.17M (+71%)

SUN VALLEY MLS THROUGH MARCH 2022 Vacant Land Sales

Sold $ Volume

New Listings

Median List Price

March

20 (-69%)

$8.5M (-66%)

26 (-7%)

$402,000 (+125%)

2022 YTD

47 (-65%)

$29M (-44%)

65 (-29%)

$439,000 (+11%)

Commercial (Does not include commercial leases) Sales

Sold $ Volume

New Listings

Median List Price

March

3 (0%)

$1.6M (-5%)

3 (-57%)

$1.8M (+322%)

2022 YTD

14 (+56%)

$11M (+72%)

12 (-33%)

$1.5M (+51%)

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

Sold $ Volume

New Listings

Median List Price

March

9 (+29%)

$64M (+137%)

28 (+180%)

$6.8M (+104%)

2022 YTD

16 (-24%)

$93M (-5%)

42 (+31%)

$5.9M (+49%)

TWO THINGS TO KNOW ABOUT THE SUN VALLEY MARKET RIGHT NOW • The overall sales for the first quarter of 2022 are down 31%, which is not a surprise to anyone paying attention to the inventory. However, the overall sold dollar volume is down only 7%, a result of higher list and sales prices across the board (see page 6 for a price comparison of 2018 to 2022).

• March proved to be a huge month for Luxury closings (residential properties listed at $2.5M and higher), with over $64M in sold dollar volume, in 9 sales.

Two homes listed over $15M both closed, one of them being the secondhighest list price ever for a home sold in the Sun Valley market.

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

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New Listings

Median List Price

March

6 (-65%)

$31M (+7%)

9 (+13%)

$975,000 (+21%)

2022 YTD

35 (-21%)

$83M (+23%)

28 (-15%)

$2.0M (+54%)

Sales

Sold $ Volume

New Listings

Median List Price

March

4 (-43%)

$4.0M (-22%)

2 (-78%)

$1.0M (+106%)

2022 YTD

11 (-42%)

$11M (-43%)

10 (-44%)

$1.1M (+19%)

Warm Springs Market

Sun Valley Village Market Sales

Sold $ Volume

New Listings

Median List Price

March

4 (-50%)

$5.3M (-64%)

16 (+78%)

$6.9M (+798%)

2022 YTD

23 (+21%)

$27M (-36%)

23 (+21%)

$6.8M (+353%)

Sales

Sold $ Volume

New Listings

Median List Price

March

9 (-10%)

$2.7M (-82%)

17 (+54%)

$2.7M (190%)

2022 YTD

24 (-4%)

$33M (+53%)

39 (+26%)

$1.65M (+107%)

Elkhorn Market

RESORT CORE OBSERVATION •

Somewhat surprisingly, overall new listing activity in the Resort Core is on pace with 2021, with 100 new listings joining the market in the first quarter (vs 101 in 2021). This is good news for buyers. The flipside of this coin is that the overall Resort Core median list price is 100% higher right now than it was in 2021’s first quarter. Not great news for buyers.

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

Sold $ Volume

New Listings

Median List Price

March

2 (+100%)

$22M (+1510%)

0 (-100%)

$0 (-100%)

2022 YTD

3 (-25%)

$25M (-19%)

0 (-100%)

$0 (-100%)

South of Ketchum Market Sales

Sold $ Volume

New Listings

Median List Price

March

7 (-46%)

$12M (-39%)

12 (+0%)

$5.1M (+128%)

2022 YTD

18 (-53%)

$29M (-29%)

21 (-40%)

$1.3M (-14%)

Sales

Sold $ Volume

New Listings

Median List Price

March

24 (-29%)

$16M (+16%)

17 (-54%)

$485,000 (-3%)

2022 YTD

62 (-27%)

$45M (+24%)

63 (-22%)

$485,000 (-18%)

Hailey Market

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

Sold $ Volume

New Listings

Median List Price

March

15 (-40%)

$8.2M (-10%)

15 (-38%)

$430,000 (+64%)

2022 YTD

28 (-43%)

$15M (-25%)

36 (-38%)

$450,000 (-9%)

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

Sold $ Volume

New Listings

Median List Price

March

1 (-67%)

$160,000 (-64%)

0 (0%)

$0 (0%)

2022 YTD

4 (0%)

$2.1M (+72%)

2 (-33%)

$1.2M (+162%)

MARKET OBSERVATIONS • North of Ketchum hasn’t seen a single new listing in 2022. New listings are down considerably in all of the markets on this page.

• Unlike several other sectors of the market, the sold dollar volume in Hailey is well ahead of last year’s pace, even though sales themselves are down.

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

Listing $ Volume

Median List Price

Residential Listings $2.5M and higher

47

$331M

$6.8M

Residential Listings $1M to $2.499M

12

$18M

$1.4M

Residential Listings $999,999 and below

23

$16M

$510,000

Vacant Land

88

$125M

$650,000

Price Comparisons | Quarter 1 2018 vs Quarter 1 2022 Q1 2018 Avg List

Q1 2022 Avg List

Q1 2018 Avg Sold

Q1 2022 Avg Sold

Res. Homes

$1.9M

$3.2M (+68%)

$718,000

$1.8M (+153%)

Condos/ TH

$814,000

$2.3M (+184%)

$542,000

$1.2M (+122%)

Vacant Land

$518,000

$1.3M (+150%)

$600,000

$625,000 (+4%)

Highest Priced Sales in March (List Prices Shown) North of Ketchum Residential Sale.........$18,500,000 Vacant Land.............N/A Resort Core (Ketchum, Warm Springs, Sun Valley and Elkhorn) Residential Sale.........$15,000,000 Vacant Land Sale.....$1,500,000 South of Ketchum Residential Sale.........$4,225,000 Vacant Land Sale.....$1,650,000 South Valley (Hailey, Bellevue and Beyond) Residential Sale.........$2,795,000 Vacant Land Sale.....$1,750,000

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 $650,000

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

106 N Hiawatha, Hailey $1,100,000

1810 Airport Cir, Hailey $1,000,000

231 Hillside, Warm Springs $1,250,000

APRIL CALENDAR OF SUN VALLEY EVENTS 1-3 3 8 9 9 & 10 10 14 15 16 & 17 16 21-30 22 26

SV Film Festival | Various Sites in Resort Core Galena Ride, Stride, Glide Triathlon | Galena Higher Ground Supper Club | The Argyros (K) Boulderdash 2022 | Warm Springs Lodge (WS) Portland Cello Project | The Argyros (K) Ramblin’ Jack Elliot (music) | SV Opera (SV) Arvin Ragoolam (writer) | Comm Lib (K) Easter Egg Hunt | Sun Valley Resort (SV) Baldy Bash | Warm Springs Lodge (WS) Rothchild (music) | The Argyros (K) Sweeny Todd (musical) | The Spot (K) Barcelona Flamenco Ballet | The Argyros (K) Warm Springs Preserve (lecture) | Comm Lib (K)

208.726.3411 | info@bhhssunvalley.com | www.bhhssunvalley.com

HELPING SUN VALLEY CLIENTS FIND THEIR “SOMEWHERE OVER THE RAINBOW.”

Information is deemed to be reliable but is not guaranteed. All figures sourced from the Sun Valley MLS April 1, 2022. © 2022 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.