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Hello Cheryl,
Please find enclosed the 23rd anniversary edition of Windermere Real Estate’s Market Review, which has earned its reputation as one of the most accurate sources for data in the Blaine County housing market.
In the simplest of terms, the Sun Valley real estate market experienced a 40/30/20 year. The number of closed sales was down 40 percent, the total dollar volume was down 30 percent and the median sales price climbed upward 20 percent.
But since this is real estate, nothing is truly that simple. In the resort area single family market, sales fell 60 percent, while the median price per livable square foot climbed 26 percent. Lack of inventory was the culprit. Of the 39 single family homes currently available, only 3 are listed for sale below $2 million.
In the north valley condo market, 172 sales were recorded in 2022, compared to 288 a year earlier. So while the number of closings fell 40 percent, the median price paid climbed 26 percent. As 2023 began, there were 24 resort condos available for under $1 million.
In the Hailey market, 107 homes sold in 2022, about 21 percent fewer than as a year earlier, although the median sales price per foot climbed 22 percent higher. The price increase was driven largely by a decline in available inventory and a spike in the cost of building materials. Bellevue saw a bigger decrease in sales activity at 30 percent and a 28 percent increase in sold price per foot.
We expect 2023 to be a slower year in Sun Valley real estate, with tight inventory levels driving residential real estate prices upward in certain price points, but the likelihood for continued higher interest rates may curtail some buyers enthusiasm.
If you or someone you know have questions or need professional real estate advice, please don’t hesitate to call me. In the meantime, I hope you find the “23rd Windermere Report” informative and I look forward to working with you in 2023.
For a detailed snapshot of market activity, please click on the link HERE.
Cheers to another great year! .
Sincerely,
Cheryl Concannon, M.A., SRS
Resort & 2nd Home Specialist
208.720.4806
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Ketchum Signs on to Resort City Lobbying Group | |
Last week, the Ketchum City Council approved a memorandum of understanding detailing the city’s intention to foot the majority of the bill for operations of the Idaho Resort Cities Coalition, a state-level lobbying group.
The bill will be split by Ketchum, Bellevue, Kellogg, McCall, Riggins and Stanley. Ketchum’s net contribution will be $12,500. The other cities have given close to $3,500 collectively.
Full Story Here
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BMT Champions Reception
Celebrating 50 years of the Boulder Mountain Tour
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Join us as we celebrate 50 years and honor BMT champions. All are welcome to meet and mingle with past champions while enjoying complimentary food and beverages at The Elephant's Perch.
Full BMT Schedule Here
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Sun Valley to Host
U.S. Alpine National Championships
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In partnership with U.S. Ski And Snowboard, Sun Valley Resort is thrilled to announce the hosting of the 2023 & 2024 U.S. Alpine Championships. From April 2-5, 2023 Sun Valley will welcome both men and women competing in slalom, giant slalom and super-G events. The course in Sun Valley has a storied history of alpine racing, along with technical and challenging terrain, and will feature local U.S. Alpine Ski Team athletes such as Ryder Sarchett, Jack Smith and Dasha Romanov.
"We last hosted the U.S. Alpine Championships in 2018, and we are looking forward to welcoming back
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athletes to our beautiful community, where people have come to enjoy the incredible terrain and experience since 1936," said Sun Valley Resort Director of Marketing & PR, Bridget Higgins. | | |
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What is Windermere Ready?
Improvement money to prepare your home for resale.
Simply repay the loan from sales proceeds!
A small upfront investment can yield a big payoff when selling your home. To help with that process, we provide the funds to help cover the costs of things like painting, landscaping, cleaning, and staging. I will work with you to determine which improvements will get the biggest return. Then I’ll connect you with preferred local service providers to arrange to have the work done.
SIMPLE, SPEEDY APPLICATION PROCESS
QUICK FUNDING
NO PAYMENTS DUE BEFORE CLOSING
CONCIERGE-LEVEL SERVICE
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921 E Myrtle Street
.23 Acres
$309,500
| Corner Lot. Welcome Home to Old Cutters. This quintessential community-centric neighborhood provides an active lifestyle. Endless opportunities with a 5-acre park, views, direct access to BLM trails, adjacent bike path & minutes to downtown Hailey. Graced with custom architecture, inviting front porches, & a sense of connection, Old Cutters will appeal immediately! Accessory Dwelling Unit Allowed. Details | |
120 Flower Drive #E
3 BD - 2.5 BA
1,248 Sq Ft - $925,000
| Welcome home! Natural light pours into this condo thanks to its southern exposure. Radiant floor heat throughout. A main floor primary bedroom with two bedrooms upstairs make for an ideal layout. The Fields HOA has a new hot tub, a work out facility and is located halfway between downtown Ketchum and Skiing at the Warm Springs Base area. Details | |
70 Cold Springs Gulch
4 BD - 3.5 BA
5,471 Sq Ft - $8,395,000
| Magnificent views! This rare parcel is unique in the market place. The privacy is superb and the mountain-top home is only 10 minutes from downtown Ketchum. The only large ski-in ski-out home/parcel at the #1 Ski Resort in North America. The 1992 Lodge is 5,471 sq.ft. and is comprised of 4 bedrooms. 2 kitchens, 3.5 bathrooms, and many more features. Details | |
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The Argyros Presents
AILEY II - Feb 3 & 4 7:30pm
| Ailey II is universally renowned for merging the spirit and energy of the country’s finest dance talent with the passion and creative vision of today’s most outstanding and emerging choreographers. Founded by Alvin Ailey, the company embodies his pioneering mission to establish an extended cultural community that provides dance performances, training, and community programs for all people. Tickets from $50 WEBSITE | |
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February 25, 2023 • 7:30pm
Attend Gautier’s second winter concert in Sun Valley.
The Argyros
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