Fourth quarter stats are in and sales remain strong for Sun Valley, Ketchum and Hailey. 2021 has been marked as a Seller’s market and I expect that to continue into 2022. Real estate sales in Hailey, Ketchum and Sun Valley are strong with marked median sales price increases. Sales for single family homes, condominiums and vacant land are all strong.
Sun Valley Real Estate Market Report 2021, 4th Quarter
Sun Valley Median Sales Price
When compared to 2020, median sales price is up a whopping 39% in Sun Valley! Median sales price for residential sales in Sun Valley for 2020 was $650k and ended 2021 at $906k. Sales are exceptionally strong in the $2M-$3.5M segment of the market.
Sun Valley Days on Market
Average days on market for 2021 was 71 days in Sun Valley compared to 109 days in 2020. This places average days on market down by 29%.
Sun Valley Active Listings
The number of active listings in Sun Valley for the 4th quarter of 2021 was 217, which is down 16% compared to the previous year. A low number of active listings will continue to fuel the Seller’s market. While winter listings are typically slower in Sun Valley, ID, we typically see an uptick in listings come April and May.
Ketchum Real Estate Market Report, 4th Quarter 2021
Ketchum Median Sales Price
Median sales price for residential listings in Ketchum, Idaho was $1.17M in 2021.
This marks a 24% increase in price when compared to 2020.
Real estate residential sales in 2021 were exceptionally strong in the $1.5M-$2M range.
Ketchum Days On Market
The average time a property was on the market in 2021 was 65 days which is down 25% from 2020.
This continues to demonstrate strong buyer demand and low inventory.
Ketchum Number of Active Listings
There were 271 active residential listings in Ketchum, Idaho for 2021 compared to 437 in 2020.
Low inventory in Ketchum combined with continued buyer demand continues to create a strong Seller’s market.
Real Estate Market Report for Hailey, Idaho 2021
Hailey Median Sales Price
Hailey includes properties within the Mid-Valley. Median sales price in Hailey, Idaho for 2021 was $515k which is up from $434k in 2020.
Historically Hailey, Idaho has offered more affordable housing for the Wood River Valley, unfortunately we are seeing this change as prices skyrocket. Median sales prices in Hailey are up 19% for 2021.
Average Days on Market for Hailey, Idaho
The average time a home was on the market for 2021 in Hailey, ID was 97 days which is down 20% from 2020.
Number of Active Listings in Hailey, ID
Hailey, Idaho has 235 active listings in 2021 compared to 333 in 2020 which is down 29%.
The Seller’s market is strong throughout the Wood River Valley.
What sells in winter in Sun Valley, Idaho?
Sales for single family homes typically slow in the winter months but condominium and resort area sales remain strong.
We typically see a spike of listings April-June that coincides with high Buyer demand after the snow melts.
Real Estate Trends for Sun Valley Area 2021
In 2021, strong Buyer demand in the spring and early summer escalated prices faster than Realtors and appraisers could keep track of.
By mid-summer, Buyer demand remained strong but prices began to plateau.
Overall Where Are We Headed?
The million dollar question. If we could accurately predict the future of real estate we would all be millionaires.
I believe the 2022 real estate market in Sun Valley, Ketchum and Hailey, Idaho will primarily be shaped by interest rates and corporate leniency on remote work. If large employers continue to allow remote work, areas such as Sun Valley, Idaho will continue to see growth and high real estate prices. A large portion of our new residents are working remotely from west coast employers. Many have purchased homes in Sun Valley, Idaho and Ketchum, Idaho and are enjoying mountain life with their families.
As an Associate Broker of Keller Williams Sun Valley, Kirsten DeHart is here to answer your questions and will be available every step of the way with market expertise and boutique, one-on-one personal attention with every transaction.
Check out the most recent listings below and explore everything the Wood River Valley has to offer.
https://www.woodriverproperties.com/your-sun-valley-real-estate-roundup/
