Our 2014 First Quarter Sun Valley Real Estate statistics were revealing and encouraging.  Overall performance showed slightly fewer number of transactions with greater total volume and higher value per transaction.  This is consistent with the trend of a shrinking number of listings in the different inventory categories.  2013 was bolstered by a significant number of distressed property sales and that has become less of a factor due to absorption.   Of particular importance has been the recovery in the Mid-Valley between Hailey and Ketchum/Sun Valley.  This area with property priced in between the entry level in Hailey/Bellevue and North Valley locations  offers exceptional value for those willing to consider a 5-15 minute drive from the resort towns.   At the luxury end Buyers are highly discriminating, still looking for good value but inventory of high quality property continues to diminish.  Our Christie’s International Real Estate Affiliates in the major metropolitan areas that are our primary feeder markets are experiencing very strong demand outstripping supply.   We all know what that does to prices.  According to the most recent White Paper on Luxury Real Estate by Christies, resorts are lagging but the prognosis is for increased demand in “Jewel Box” communities offering high quality lifestyles.   We feel fully qualified and confident continued improvements in transportation logistics in and out of Sun Valley will make our area even more desirable.

North Valley – 2014 1st Q (Ketchum, Warm Springs, Sun Valley, Elkhorn, North of Ketchum) 

  • Total Residential Properties Sold:  50 (▼4%*)  $42,319,000 (▲ 20%*)
  • Single Family Average Sale Price $1,473,343 (▲ 76%*)
  • Single Family Homes Sold: 16 (▲ 14%*) $23,573,500(▲ 76%*)
  • # Active Single Family Homes as of 03/31/2014: 115 (▼50%*)
  • Condos & Townhomes Sold:  31 (▼3%*)   $17,190,500 (▲ 4%*)
  • Condos & Townhomes Average sale price $554,532 (▲ 1%*)
  • # Active Condos & Townhomes as of 3/31/2014: 213 (▼14%*)
  • Vacant Land # Sold: 3 (▼70%*)   $1,555,000 (▼70%*)
  • Vacant Land Average sale price $518,333 (▼41%*)
  • # Active Vacant Land Listings as of 3/31/2014: 85 (▼22%*)

Mid Valley – 2014 1st Q (between Ketchum and Hailey)

  • Total Residential Properties Sold:  13 (▼27%*)   $14,004,573 (▲ 16%*)
  • Single Family Homes Sold: 10 (▼23%*)   $13,529,573 (▲ 22%*)
  •  Single Family Average Sale Price $1,352,957 (▲ 61%*)
  • # Active Single Family Homes as of 3/31/2014: 65 (▼35%*)
  • Vacant Land Sold: 2 (▼100%*)   $475,000 (▼93%*)
  • # Active Vacant Land as of 3/31/2014: 70 (▼15%*)

Hailey – 2014 1st Q

  • Total Residential Properties Sold:  30 (▼37%*)  $7,127,700 (▼25%*)
  • Single Family Homes Sold:  19 (▼47%*)   $5,861,000  (▼19%*)
  • Single Family  Average Sale Price $308,474 (▲ 20%*)
  • # Active Single Family Homes as of 3/31/2014: 46 (▼47%*)
  • Condos & Townhomes Sold:  8 (▼50%*)   $1,089,700 (▼23%*)
  • Condos & Townhomes Average sale price $136,212 (▲ 18%*)
  • # Active Condos & Townhomes as of 3/31/2014: 17 (▼10%*)
  • Vacant Land Sold: 3 (▼167%*)    $177,000 (▼254%*)
  • # Active Vacant Land as of 3/31/2014: 44 (▼21%*)

Bellevue & South Blaine County – 2014 1st Q

  • Total Residential Properties Sold:  10 (▼110%*)  $2,324,500 (▼228%*)
  • Single Family Homes Sold:  7 (▼157%*)   $1,541,500 (▼351%*)
  • Single Family  Average Sale Price $220,214 (▼75%*)
  • # Active Single Family Homes as of 3/31/2014: 33  (▼75%*)
  • Vacant Land Sold: 1 (▼200%*)    $782,500 (▲ 80%*)
  • # Active Vacant Land as of 3/31/2014: 42 (▼54%*)

* Comparison to same time period in 2013