Is Real Estate in Ketchum Idaho Sustainable?
Due to significant growth in real estate in Ketchum, Idaho we are beginning to see changes within the community. Soaring real estate prices in the entire Sun Valley area have created significant displacement among area residents and the creation of new developments to accommodate demand.
Multiple building projects take hold within the valley.
Due to soaring demand and an over 10% increase in our local population, building projects across the valley are underway. Projects range from apartments airmed at affordable housing to custom estates.
New construction is welcome for many in the Sun Valley.
Until recently, real estate in Ketchum Idaho was largely outdated with the bulk of resort area developments built in the 80’s.
Think baseboard heat, tile countertops and dark wood siding as the predominant features in a Sun Valley condo. Many of these properties are undergoing significant upgrades fueled by strong buyer demand for modern properties.
Growth in Hailey Idaho Expected to Surge
Hailey’s housing is expected to grow from 3700 to 4700 units within the next 10 years. Hailey offers a wide range of residences from affordable housing to luxury estates. Most residences in Hailey offer easy access to downtown, local schools and recreation.
Several subdivisions take hold in Hailey
New subdivisions in Hailey Idaho offer park access, modern architecture and hopefully, lower maintenance living. As of spring 2022, demand for homes in Hailey outpaces new construction.
Quigley Farms offers direct access to local nordic, hiking and biking trails. It is adjacent to the high school and downtown creating a prime location. Quigley Farms.
Sunbeam Hailey offers access to downtown Hailey, recreation, Hailey’s largest park and is close to schools. Sunbeam Hailey
Hailey Idaho is host to several high density projects.
High density apartments are aimed at providing affordable housing for seniors and workforce housing. Many of these multifamily projects offer a percentage of rent-restricted units to accommodate lower income residents.
New Subdivisions in Ketchum are underway.
Warm Springs Ranch is moving forward with 35 single family homesites off Warm Springs Road.
Phase IV of Weyyakin is set to begin with development of 6 luxury homes. Phase IV Weyyakin
Contact Kirsten DeHart for additional projects within Ketchum and Sun Valley. 208-721-4131.
Affordable housing projects in Ketchum remain controversial.
After much debate, Bluebird Village was approved in downtown Ketchum for 51 new, affordable apartments. Ideally these deed restricted apartments will keep rents at rates workers can afford.
Due to soaring prices for real estate in Ketchum Idaho, affordable housing remains a challenge.
What are some considerations when purchasing a new home?
- Get a home inspection. Just because it is a new home doesn’t mean you should skip the home inspection. New builds can have their share of defects.
- Ensure all permits for construction were pulled and are correct.
- You may consider paying for additional title insurance. The Title Company will collect receipts from all tradespersons involved in the construction of your home to ensure there are no outstanding debts. If a mechanics lien surfaces after your purchase, the Title Company is liable for the debts.
Call us today to set up your first appointment in the Sun Valley area: (208) 721-4131
See All The New Listings This Week Here: Real Estate Roundup