May 2022 Real Estate Report for Sun Valley, Idaho

SUN VALLEY May 2022 Real Estate Market Report

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

Sold $ Volume

New Listings

Median List Price

May

65 (-39%)*

$122M (+49%)

131 (0%)

$805K (+16%)

2022 YTD

356 (-36%)**

$473M (-4%)

467 (-15%)

$800K (+8%)

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

Residential Homes in Entire Market Sales

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New Listings

Median List Price

May

23 (-23%)

$59M (+58%)

54 (+29%)

$1.05M (+5%)

2022 YTD

112 (-19%)

$205M (-6%)

154 (-14%)

$905K (-8%)

Condos/Townhomes/Duplexes in Entire Market Sales

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New Listings

Median List Price

May

22 (-4%)

$37M (+63%)

34 (-21%)

$782K (+33%)

2022 YTD

112 (-10%)

$141M (+16%)

140 (-13%)

$960K (+41%)

SUN VALLEY MLS THROUGH MAY 2022 Vacant Land in Entire Market Sales

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New Listings

Median List Price

May

15 (-63%)

$21M (+82%)

30 (-6%)

$341K (-36%)

2022 YTD

82 (-66%)

$61M (-26%)

116 (-24%)

$420K (+6%)

Commercial (Does not include commercial leases) Sales

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New Listings

Median List Price

May

3 (-40%)

$4M (-11%)

9 (+80%)

$975K (-61%)

2022 YTD

23 (+5%)

$24M (+42%)

25 (-7%)

$990K (0%)

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

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New Listings

Median List Price

May

16 (+167%)

$74M (+216%)

21 (+91%)

$4.9M (+44%)

2022 YTD

33 (+3%)

$171M (+22%)

70 (+43%)

$5.1M (+29%)

TWO THINGS TO KNOW ABOUT THE SUN VALLEY MARKET RIGHT NOW • Amassing these 2022 figures and comparing them to 2021 creates a bit of a misleading impression about the market. As is widely known, there was nothing normal about the Sun Valley market in 2021, and 2022 has remained atypically busy, albeit in different ways. So these year-over-year comparisons should be seen as anomalies, compared to how a “normal” Sun Valley market has typically operated.

• Are things slowing down as we head into summer? The numbers suggest a bit of a slowdown. New listings are still receiving attention, but not with the fervor we saw during the winter. This may have something to do with the fact that average and median list prices are still significantly higher than ever, and buyers are therefore waiting to see if sellers might come down from their numbers. Of course, the economy, with a falling stock market, rising interest rates, and consumer confidence are certainly playing a role in the market’s activity as well. It will be a very telling summer, that is for sure.

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

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New Listings

Median List Price

May

11 (+10%)

$28M (+73%)

16 (-6%)

$2.1M (+67%)

2022 YTD

56 (-22%)

$125M (+14%)

60 (-3%)

$1.3M (-4%)

Sales

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New Listings

Median List Price

May

1 (-80%)

$850K (-75%)

5 (-55%)

$2.1M (+130%)

2022 YTD

19 (-32%)

$20M (-20%)

23 (-40%)

$1.1M (+15%)

Warm Springs Market

Sun Valley Village Market Sales

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New Listings

Median List Price

May

1 (-86%)

$1.2M (-87%)

8 (-11%)

$1M (+32%)

2022 YTD

13 (-61%)

$30M (-50%)

36 (+9%)

$4.1M (+175%)

Sales

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New Listings

Median List Price

May

11 (+57%)

$25M (+317%)

8 (-64%)

$937K (+44%)

2022 YTD

44 (0%)

$70M (+61%)

52 (-16%)

$1.6M (+97%)

Elkhorn Market

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

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New Listings

Median List Price

May

1 (-67%)

$16M (+119%)

2 (+100%)

$4M (+100%)

2022 YTD

5 (-29%)

$41M (+10%)

4 (-20%)

$4M (+84%)

South of Ketchum Market Sales

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New Listings

Median List Price

May

4 (-43%)

$5.1M (-59%)

9 (-18%)

$4.7M (+327%)

2022 YTD

25 (-60%)

$38M (-48%)

38 (-32%)

$1.5M (+2%)

Sales

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New Listings

Median List Price

May

21 (-36%)

$17M (-2%)

43 (+48%)

$769K (+73%)

2022 YTD

112 (-15%)

$81M (+23%)

135 (-9%)

$550K (-7%)

Hailey Market

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

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New Listings

Median List Price

May

7 (-69%)

$24M (+230%)

14 (-26%)

$590K (-2%)

2022 YTD

50 (-58%)

$49M (+16%)

62 (-34%)

$482K (-3%)

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

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New Listings

Median List Price

May

2 (0%)

$460K (-14%)

4 (-33%)

$440K (-38%)

2022 YTD

7 (-36%)

$3M (-72%)

11 (0%)

$550K (+16%)

MARKET OBSERVATIONS

• North of Ketchum and South of • Bellevue and the South County market Ketchum offer the valley’s most enjoyed an unbelievable May. Three of prestigious properties. Aside from one the highest-listed properties ever huge sale North of Ketchum last month, changed hands last month, resulting in these two markets are fairly quiet. more than $24M in Sold Dollar Volume.

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

Listing $ Volume

Median List Price

Residential Listings $2.5M and higher

62

$455M

$6.8M

Residential Listings $1M to $2.499M

19

$30M

$1.5M

Residential Listings $999,999 and below

46

$28M

$615,000

Vacant Land

90

$127M

$650,000

Highest Priced Sales in May (List Prices Shown) North of Ketchum Residential Sale.........$19.5M Vacant Land.............N/A

Resort Core (K, WS, SV, E) Residential Sale.........$6.495M Vacant Land Sale.....$1.695M

South of Ketchum Residential Sale.........N/A Vacant Land Sale.....$3.4M

South Valley (H, B, & Beyond) Residential Sale.........$5.95M Vacant Land Sale.....$13M

Selected Listings from Our Brokerage’s Inventory

161 Spur Lane, Ketchum $9,350,000

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

125 Howard #1, Warm Springs $1,675,000

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

133 Cowcatcher, Bellevue $810,000

1228 Villager, Sun Valley $1,075,000

171 Valleywood, Ketchum $2,795,000

JUNE CALENDAR OF SUN VALLEY EVENTS 1 4 4 6-8 9 10-13 11 14 14 15 16 16 18 18 19 21 23 24-25 24-1 25 26 28 30

Wood River Trails Coalition Drive | Sawtooth Br. (K) Papoose Club Plant Extravaganza | Webb (B) Tree City Chamber Players | The Argyros (K) Sun Valley Forum | The Argyros (K) Wood River Trails Coalition Drive | Sawtooth Br. (H) Sun Valley Wellness Festival | Various Hailey Farmer’s Market Begins (Sat AM) | (H) Ketchum Farmer’s Market Begins (Tues PM) | (K) Gender and the Court (Lecture) | CommLib (K) Pride in the Garden | Sawtooth Bot. Garden (SoK) Despo’s Diva Dinner Party | Despo’s (K) Crossing Borders (Lecture) | CommLib (K) Sun Valley Brewfest | Festival Meadows (K) The Cadillac Three (music) | SV Pavilion (SV) Wood River Orchestra Summer Concert Summer Solstice | Warm Springs Preserve (WS) Wagon Ride & BBQ (Thurs’s) | Galena Lodge Ballet Sun Valley | SV Pavilion (SV) The Advocates “Color Our World” | Memory Park (K) Blitzen Trapper (music) | The Argyros (K) Jazz in the Park (Sun PM) | Rotary Park (K) Ketch’em Alive (Tues PM) | Forest Service Park (K) Lyle Lovett & Chris Isaak | River Run (K)

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