2021 MARKET REPORT FOR REAL ESTATE IN SUN VALLEY, IDAHO It was another record-setting year for real estate in Sun Valley, Idaho. New highs for sold dollar volume and average sales price were set in 2021. Learn how each area's market performed, as well as how every area and property type fared versus 2020’s unprecedented numbers.
A LOOK AT SELECTED SALES IN SUN VALLEY IN 2021 With over 200 sales in 2021, our agents made a lot of clients very happy. Our goal is to create better real estate experiences for our buyers and sellers. We would love to help you in 2022!
IN 2021, SUN VALLEY DIDN'T HAVE TO DREAM OF A WHITE CHRISTMAS!
A SUN VALLEY INSIDER'S GUIDE TO SKIING & RIDING BALDY LIKE A LOCAL
The snow is here, now make the most of it. Take a look at this Sun Valley Insider's Guide to learn how to ski and ride Baldy like you were born here!
SUN VALLEY HOLIDAY CALENDAR
In our Idaho winter wonderland that is Sun Valley, there is so much going on during the week leading up to Christmas. Here's a peek at a few of the events you might enjoy. And go to visitsunvalley.com for more events and information.
20-23 Greetings - A Live Holiday Reading | Community Campus (H) 21 Winter Solstice Party | Ketchum Town Square 21-22 Tuna Christmas | Argyros (K) 22 Holiday Sweater Party | Duchin Room (SV) 23 SV Culinary Institute Tour 21-28 Sun Valley Carolers | SV Village 24 Christmas Eve Celebration | SV Village & Dollar 26 Zoso (Led Zepp Cover Band) | Argyros (K)
Our November market report is live and ready for readers to dive into; click here or on the image below to learn what happened in November. 2021's numbers continue to run virtually neck-and-neck with 2020's record pace--as we hit the last month of the year, it will be interesting to see whether 2021 finishes as the busiest, or second busiest, year on record. Either way, it's been quite a year. Call or text to discuss any of the numbers more in depth.
Given how little snow as fallen so far this fall, you might also want to find time to do a snow dance or two (at the very least it will help you shed some calories after Thursday!).
Happy Thanksgiving to all!
GET READY FOR THE SKI SEASON BY... READING SOME SUN VALLEY BOOKS!
Not only was Sun Valley the first destination resort in the US (1936), it also has arguably the most fascinating history of any ski resort in the country. Many books detail the history of the area and the people who have made this place so special over the decades (Miller, Hemingway, Harriman, Schwarzenagger, etc), and there is perhaps no better way to get yourself excited for the winter than by reading one (or two or several) of these books.
Here are three that truly capture the spirit of Sun Valley: Freedom Found by the late Warren Miller (link) A compelling and often hilarious autobiography from the trail-blazing filmmaker who truly got his start (and perhaps his moxie) in Sun Valley in the late 40's. Skiing Sun Valley by John Lundin (link) Just published in 2020, this history has so many stories about the mountain and its denizens, many of which are not well-known. A must read for long-time locals and those new to town! Sun Valley Ski Guide by Andy Hennig (link) This is a terrific relic from 1948. Your jaw will drop when you learn how many runs there were out of the Dollar base. Great photography too!
Freedom Found and Skiing Sun Valley are both available locally; please support our local businesses like Chapter One and Iconoclast. The Sun Valley Ski Guide can be found online or at the awesome Community Library in Ketchum (where you can also find many of Warren Miller's illustrated books, available to view but not check out).
Happy reading! FOR THE SECOND YEAR IN A ROW, SUN VALLEY IS RANKED #1!
The readers of industry-leader SkiMagazine have voted, and for the second year in a row, Sun Valley has been named the #1 Resort in the West! Here is the full list of rankings (you have to scroll waaaaayyy down to get to Sun Valley at #1!). Here is the Sun Valley site for the rankings. Congratulations to all the crew at Sun Valley, from ownership to management to lifties and patrol and SnowSports to service to groomers and on and on and on. With the recent new snow hitting the mountains, we are all more fired up than ever for the 2021-22 season!
ARCHIVED BLOG POSTS BELOW 25TH ANNUAL TRAILING OF THE SHEEP IS BACK!
After a one-year hiatus, the sheep and all the Trailing of the Sheep festivities are back! The world-renowned festival starts on Wednesday, October 6, with the popular Folk Life Fair on Saturday at McKercher Park in Hailey, and the "you gotta see it to believe it!" running of the sheep down Main Street in Ketchum happening Sunday at noon. Great food events, speakers, music, and so much more than just some sheep running through the town!
WAGON DAYS IS A'COMIN'!
After a 1-year absence, the beloved Wagon Days Festival is back on track to enthrall us and remind us of the mining history of the area. This year's events will take place on Saturday and Sunday, Sept 4-5. The Big Hitch Parade is Saturday at 1:00 along Sun Valley Rd and through downtown Ketchum. Whether you've seen it 25 times or never before, the parade is always stunning! Here's a sneak peak of what to expect (though it's no substitute for the real thing!).
THE SYMPHONY IS IN FULL SWING!
After a year of virtual performances, the Sun Valley Summer Music Festival is playing at the Sun Valley Pavilion this summer, and the crowds are loving it! Here's a look at the rest of the schedule, which runs until August 19th. THE SECOND HALF OF JULY IS BUSY BUSY!
Here is a video compilation of some of the 180 closings our agents and their clients have completed in the first six months of 2021.
WHY WE LOVE SUMMER IN SUN VALLEY!
OUR ARTS DISTRICT BLOCK PARTY! | JUNE 17, 2021
We had a great opening to summer at our Ketchum Arts District Block Party, which our brokerage co-hosted with Maude's, Cozy, The Open Room, and Premier Cleaners. Four of these businesses are new to the First Ave & Sun Valley Rd area, so we wanted to take the chance to introduce ourselves to the neighborhood.
Our raffle collected nearly $1500 for the Hospice and Palliative Care of the Wood River Valley organization, which is housed in the Arts District. To donate to their awesome work,click here.
After a year where almost no events or festivals happened (was going to say "virtually" but realized that would have been incorrect because there were some virtual events last year!), our summer calendar for 2021 is taking shape and man, there is a lot going on! Here are some highlights for the end of June and first part of July.
So great to have an arts and culture-filled summer. Enjoy yourself whether you are at an event, out on a trail, or just strolling through town. It's bound to be busy this summer, so let's all lead with kindness!
GOLF SEASON BEGINS
There are five golf courses in the Wood River Valley, and now that the snow has melted and the weather is warming, locals and visitors are getting their swings into shape. Here is a breakdown of the area's five courses; not all are public so please call ahead for information. From north to south:
The Bigwood Golf Course This public 9-hole course, a local's favorite since 1971, offers views of the north side of Baldy from almost every hole. 208-726-4024 | Bigwood Golf Course
White Clouds Course The newest course in the Wood River Valley, White Clouds is a 9-hole course on the north side of the Sun Valley Resort. Its elevated setting ensures that golfers will be looking at the 360-degree mountain views as much as they are looking for the pins! 208-622-2251 | White Clouds
Sun Valley/Trail Creek This 18-hole course, designed by Robert Trent Jones Jr in 1980, is the Sun Valley Resort's signature course. Also featuring an 18-hole putting course, and the always-popular Sun Valley Clubhouse. 208-622-2251 | Trail Creek Course
Elkhorn Course Also designed by Robert Trent Jones Jr (with the help of his more famous father), Elkhorn opened in 1974. The hilly course has many sand and water hazards, challenging all levels of golfer. The views of the Boulders are also exceptional. 208-622-2251 | Elkhorn Golf Club
The Valley Club Located directly between Ketchum and Hailey, this private course offers a great design and fabulous mid-valley mountain views. 208-788-5400 | thevalleyclub.org
"SLACK-TIVITIES" TO KEEP YOU BUSY FOR SHOULDER SEASON
First of all, what is "Shoulder Season" (also known in mountain towns like ours as "Slack")? Historically, the month or two after the ski area closes, and before summer hits its stride, is known as Shoulder Season.
Here are some options to help keep you active and occupied through the down time between winter and the summer. If you have any other recommendations, let our office know and we'll include them! For more information on these selected "Slack-Tivities," click on the images.
Whatever you do in April and May, play it safe and take advantage of all the wonderful things to do in Central and Southern Idaho!
CELEBRATING INTERNATIONAL DARK SKY WEEK You can learn more about our designation as an International Dark Sky Community by clicking here. And since it is International Dark Sky Week (April 5 thru 12), make sure to get out one of these evenings and enjoy our sky's tapestry of stars.
-The overall market is still tracking well ahead of 2020’s pace; expect this to continue until June or July, when last year’s record activity began -Home and Condo/TH sales were both flat this month versus March of 2020, due to an historically low amount of residential properties for sale -Vacant Land sales continue to be astonishing; sales are up 337% over last year, and sold dollar volume is up 262% -Hailey and Bellevue are the most active micro-markets in the valley, especially Bellevue, which has seen an increase of over 300% for both sales and sold dollar volume versus 2020 -There are only 81 residential properties available (not under contract) as of April 1, 2021 -Highest Residential Sale (List Price): $6,900,000 -Highest Vacant Land Sale (List Price): $3,500,000
BHHS CONVENTION HIGHLIGHTS Some highlights from the convention include: -CEO Chris Stuart introduced the IQ Influencer Network, a system exclusive to Berkshire Hathaway HomeServices agents designed to elevate agents' skills and influences in real estate locally and globally. -Vernice "Flygirl" Armour, the first female African American combat pilot, delivered a stirring keynote address on Day 2, articulating how the last year has felt almost like being in a combat mission, as the playing field and strategies shift daily and what you knew yesterday might not be relevant today. Armour's messages have relevance and resonance no matter what field someone works in or where they live. I encourage you to learn more about her here. (And here is her instagram account.) -Our office was recognized a couple of times in the awards section of the convention. Along with our Boise-area partner BHHS Silverhawk Realty, BHHS Sun Valley Properties was named as the #37 most productive company in the entire BHHS network (some 1500 companies), making us part of the Elite Circle. We also had one of our agents in the Top 10 for agent production (out of 60,000 agents)! -Finally, one of our owners and an agent led a breakout session called "Resort Market Boom," with more than 250 guests attending to learn how and why Mountain Resort markets like Sun Valley, Park City, Jackson, and so on have seen such massive upticks in activity in the last 10 months.
Lots of other moments of note, including having John Legend play for us from his living room in support of Sunshine Kids, BHHS's preferred charitable organization. In 2020 BHHS raised $1.645M for Sunshine Kids, and since 1991 has raised a total of $35.5M!
L to R: Vernice Armour, John Legend, BHHS SVP and Silverhawk being recognized as Company #37
There are many stores in the valley who carry gear for purchase or rent, including a couple of second-hand stores. Rather than list them all here, call, email, or text for a recommendation.
SKIING & SNOWBOARDING SUN VALLEY
For those who haven't ever been here, take a look at this brief slideshow video demonstrating what skiing and snowboarding on Baldy and Dollar looks like. Visit Sun Valley's website for info about accommodations, tickets, and the like.
PROPOSED CAMPGROUND WEST OF HAILEY SPARKS CONTROVERSY
The city of Hailey is nearing agreement on the development of a 33-site campground on a city-owned parcel of land on the south side of Croy Canyon Road, between Lions Park and Mountain Humane. Currently, there are no official or federal campgrounds near Hailey, the closest being sout of Bellevue or north and east of Ketchum. The city has requested just over $730,000 in funds for this campground.
There are varied opinions about the site that has been chosen for the campground. While most people seem to agree that a campground near the Hailey city limits is a good idea, the location of it is causing the controversy. The parcel of land where the campground is proposed has a lot of animal traffic, and the potential for evironmental damage or human-started fires is too high to risk, according to those who oppose the project.
From Wednesday morning, Jan 27, through Friday afternoon, Baldy received about 51" of snow, according to the mountain's snowstake. While it doesn't appear that this is a 48-hour record, many locals confirm that they can't remember a storm that brought this much snow to the mountain in such a short period.
A REVIEW OF REAL ESTATE IN SUN VALLEY FOR 2020
Any review of 2020 has to acknowledge that the year was an anomaly in almost every sense. Records were set in almost every category and local micro-market, and the dearth of inventory (both existing and new builds) makes it fairly certain that the market will struggle to keep pace with 2020's activity this year.
That being said, here is a link to the complete report, which attempts to paint an overall picture as well as show the activity for all property types in the area's nine micro-markets (Custer County, North of Ketchum, Ketchum, Warm Springs, Sun Valley Village, Elkhorn, South of Ketchum, Hailey, and Bellevue & Beyond).
Here are just a few of the record-breaking numbers for the entire market: • Sales........................................1286 • Sold Dollar Volume.....................$1,244,014,821 • Sales Price for a Home................$18,000,000 • Sales Price for Vacant Land..........$23,000,000 • Average Sales Price....................$967,352
To get the most out of this report, please don't hesitate to reach out--let's have a conversation about 2020, and what to expect for local real estate in 2021.
Here is a look at the cover of the report as well as the first page of figures: